The modern lifestyle helps people to improve their living standards by making changes in their homes. One of the ways to do so is by installing the HVAC systems in homes. Due to the growing urbanization, it has now become imperative for residents to install heating, ventilation, and air conditioning systems to live a comfortable lifestyle.
In the US, the demand for HVAC systems and services is enjoying a boom at a good rate. According to ResearchAndMarkets, the US HVAC services market is expected to witness a hike in its revenue from $25.6 billion in 2019 to the value of $35.8 billion in 2030. This growth is expected to come at a CAGR of 3.1% during the forecast period, 2020-30.
One of the biggest reasons for the increasing demand for HVAC systems across the globe is the rising urbanization at a global level. Due to this, people are now looking for the installation of modern HVAC systems in their homes to live a modern & urban lifestyle.
The increasing disposable income of people is leading to the adoption of urbanization among people. And it has led to a boom in the demand for HVAC services for the installation, repair, and replacement of HVAC systems.
Booming Construction Activities
The second reason for it is a boom in construction activities. Due to this, people are focusing on installing HVAC systems in their houses to improve the overall internal atmosphere. Home remodeling is also an important subject that has led to the high growth of HVAC systems & services.
Willingness to Live a Smart and Comfortable Lifestyle
People are now focusing on living a smart and comfortable lifestyle. In order to improve their home environment, they are now consulting HVAC services to install high-quality HVAC systems. The availability of smart HVAC systems has made it quite possible for people to live a smart lifestyle without any discomfort.
Energy Saving and Improved Results
HVAC systems help in saving a lot of energy in a house and they contribute to reducing energy bills. Due to the installation of modern thermostats & comfort monitoring systems, modern HVAC systems ensure automated scheduling depending on the use of such systems. It prevents the wastage of electricity and also limits the chances of the wear & tear of HVAC systems.
Hence, the availability of modern HVAC systems and the growing urbanization are the two crucial factors responsible for the booming demand for HVAC systems in both residential & commercial sectors.