The HVAC industry in the United States continues to be a powerhouse, not just in economic terms but also in shaping the future of heating, ventilation and air conditioning. The air conditioning industry in the US has been a stable market for decades and a reliable economic driver given the high penetration of air conditioning in residential and commercial buildings. The omnipresence of air conditioning in US households is evident as nearly 90% of residential homes are equipped with air conditioning systems. The HVAC industry as a whole generates $150 billion in annual revenue. This thriving industry is also a substantial employer, providing jobs for over 1.5 million individuals across the country. With a Compound Annual Growth Rate (CAGR) of 6.1% projected from 2021 to 2026, the HVAC industry showcases resilience and steady advancement. Annually, more than 3 million heating and air conditioner systems undergo replacement with an accompanying expenditure of $14 billion on HVAC services and repairs. In 2022, the Midwest region claimed over 22.4% of HVAC industry revenue. The construction industry’s growth serves as a catalyst for demand with a focus on indoor air quality, natural ventilation and energy efficiency guiding HVAC system design and installation practices. The southern region emerges as a hotbed for HVAC business revenue growth, recording the highest surge in the HVAC services market over the past three years largely due to soaring temperatures. Smart technologies are reshaping the HVAC landscape and driving consumer interest. The two features that are most sought-after are smart thermostats and indoor air quality (IAQ). The smart thermostat market, valued at $1.2 billion in 2022, is anticipated to reach $3.8 billion by 2029. Simultaneously, the US indoor air quality market, valued at $9.8 billion in 2022, is expected to grow to $11.9 billion by 2027. Smart, connected HVAC systems are also picking up steam.