Researchers of Navigant Research have found that the residential HVAC market is picking up pace due to the introduction of new regulatory and technological reforms in this sector. And in the years to come, various drivers such as changes in regulations, advancement in energy efficient HVAC technologies and carbon fuel efficiency will play a significant role in this change.
With the increasing use of heat pump systems for heating and cooling at home, the manufacturers are findings ways to increase the efficiency of such systems. Due to the improvement in the capability of heat pumps for transferring heat from inside and outside, their demand is increasing even in the colder regions. Hence, the demand for technicians for the repair service of such HVAC systems has also increased significantly over the last few years.
Regulatory influence has also impacted the HVAC market to a great extent. The setting of building codes, standards for efficiency and deciding the type of equipment to use in residential structures are the other areas which are altering the HVAC market. And there is a significant impact of this market change on HVAC air conditioning repair service as they are hiring certified technicians for repair services in order to maintain their brand value in the market. 1st Class Air Service is one such AC repair service unit which has made its name by providing excellent repair service to customers.
Regulators also want to promote HVAC systems with less carbon after taking into consideration the bad impact of global warming on the environment. The research highlights that the revenue for residential HVAC equipment is likely to increase from $136.4 billion in 2019 to $199.3 billion in 2028 with a growth rate of 4.3%.