Market Insights Consumer DIY & Hardware Store

Heating & Cooling - United States

United States

In 2024, the revenue in the Heating & Cooling market in the United States amounted to a staggering €117.10bn.
This market segment is projected to experience an annual growth rate of 2.75% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries around Worldwide, in the United States leads in terms of revenue generation, with €117.10bn expected in 2024.
Considering the total population figures, the per-person revenue generated in the United States in 2024 is €342.50.
The United States is experiencing a growing trend in the adoption of smart thermostats for energy-efficient heating and cooling solutions.

Key regions: India, Japan, China, Turkey, Worldwide

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Comparaison de régions

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Analyst Opinion

The DIY & Hardware Store market in the United States is facing minor growth, influenced by factors such as the availability of online services, consumer interest in health, and the spread of digital technologies. This market has not seen significant growth, but rather a slow increase in recent years.

Customer preferences: As consumers become more environmentally conscious, the demand for energy-efficient heating and cooling products is on the rise in the US DIY & Hardware Store Market. Additionally, there is a growing preference for smart home technology in heating and cooling systems, allowing for remote control and monitoring. This trend is driven by the desire for convenience and cost-savings, as well as the increasing use of mobile devices and home automation. As a result, retailers are expanding their offerings to cater to this evolving consumer preference.

Trends in the market: In the United States, the Heating & Cooling Market within the DIY & Hardware Store Market is seeing a growing demand for smart thermostats and energy-efficient HVAC systems. This trend is driven by consumers' desire for cost savings and convenience. Additionally, the market is also seeing an increase in DIY installation of these systems, with more homeowners willing to take on home improvement projects. This trend is expected to continue as the technology becomes more accessible and affordable, presenting opportunities for industry stakeholders to innovate and stay ahead of the competition.

Local special circumstances: In the United States, the Heating & Cooling Market within the DIY & Hardware Store Market is largely influenced by the country's climate and regulatory standards. Due to varying weather patterns and energy efficiency requirements, products and services in this market must cater to specific regional needs. For example, some states have stricter building codes that mandate the use of energy-efficient HVAC systems, resulting in a higher demand for these products in those regions. Additionally, cultural preferences for DIY home improvement projects drive sales in this market, making it important for companies to understand and adapt to these local factors.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in the United States is influenced by several macroeconomic factors. With the increasing focus on energy efficiency and sustainability, there is a rising demand for energy-efficient heating and cooling systems. Additionally, changing climatic conditions and extreme weather events are driving the need for reliable and efficient heating and cooling solutions. Moreover, government initiatives, tax incentives, and public awareness campaigns promoting energy-efficient alternatives are further contributing to the growth of this market. Overall, the strong economic health, favorable regulatory environment, and increasing consumer focus on sustainability are key factors driving the growth of the Heating & Cooling Market in the US.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.