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HVAC Market Forecast ๐Ÿ“ˆ

Published on July 4, 2024

Today’s HVAC services market is more competitive than ever. Experts project steady market growth throughout a ten-year forecast period but businesses must accommodate the evolving market dynamics to achieve success. Discover what the HVAC market forecast entails and how you can cater your business to these changes.

Learn key details in this guide and let Rival Digital lead your HVAC company to success with proven marketing strategies that capitalize on what customers want.

Key HVAC Market Trends in North America and Beyond ๐Ÿ“ˆ

In the upcoming forecast period, experts notice a unique set of trends taking over the market. From Asian manufacturers like Daikin Industries and Johnson Controls International PLC contributing to a large percentage of the market share and advancements with HVAC equipment, business owners must take note of these changes. Adjusting your business plan based on the HVAC market forecast benefits you and your customers.

Smart HVAC Systems That Affect Indoor Air Quality ๐Ÿƒ

Customers running their heating or cooling systems constantly miss out on the advantages of smart technology that improves their comfort level and energy usage. Many of today’s heating and air conditioning systems connect with programmable thermostats so property owners can have greater control over their air quality.

For example, if you want to improve your indoor air and make it less humid by keeping the air conditioning running, a smart thermostat can cause the system to run at a higher temperature when you’re not home and then automatically adjust at the time you schedule. The technology often connects to a smart device so you can change your settings with the touch of a button.

HVAC Industry Focusing on Residential, Commercial, and Industrial Spaces ๐Ÿข

Much of the market share lies within the residential sector, though market segmentation shows a need for high-quality equipment in industrial and commercial spaces. Manufacturers like LG Electronics and other reputable brands must continue to produce residential HVAC systems that meet the needs of today’s consumers.

For business owners, it’s crucial to have variety in the HVAC systems available to them, including:

  • Air conditioners
  • Furnaces
  • Heat pumps

Whether someone wants to invest in a ductless mini-split or a heat pump, HVAC professionals must broaden their expertise and services to include these systems.

Energy-Efficient HVAC Systems

The HVAC market forecast continues to show a high demand for energy-efficient systems. Contractors offering HVAC services should turn their focus to HVAC systems that limit one’s energy consumption. Thanks to improved energy efficiency standards set by the International Energy Agency, property owners can save on their heating and cooling costs by investing in state-of-the-art equipment.

Let Rival Digital Guide You Through Today’s HVAC Market ๐Ÿค

Take advantage of these insights into the HVAC market forecast and advertise your business accordingly. Let Rival Digital take charge of your HVAC marketing efforts and gain customers within the residential and commercial sectors. Our experts understand the many changes occurring in the HVAC services market and help your business grow with the times.

To schedule a consultation with our marketing professionals, call (800) 674-9823 or submit our convenient online contact form.

Eric is the Founder & President of Rival Digital. He has been doing HVAC digital marketing for several years and brings a wide range of knowledge to the table.

HVAC Market Forecast ๐Ÿ“ˆ

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