Similar to most industries within the construction sector, the past five years for the Heating and Air Conditioning industry has been quite volatile. In 2009, new residential and nonresidential construction slipped into historic decline. At the same time, falling per capita disposable income prevented consumers from upgrading heating, ventilation and air-conditioning (HVAC) systems. Nevertheless, demand for heating, ventilation and air conditioning (HVAC) services is projected to heat up in the next five years to 2019. Pent up demand across the construction sectors, which began to loosen in 2012 and 2013, is forecast to boost demand for new HVAC installations, the industry's primary service segment. Moreover, improving per capita disposable income, and the growing popularity of energy efficient systems that also lower operating costs for businesses and households, will drive demand for installations in existing structures, boosting industry revenue in turn.
This industry comprises companies that primarily install and service heating, ventilation, air-conditioning (HVAC) and refrigeration equipment. The tasks operators perform include new installations, additions, alterations, maintenance and repairs. Plumbing and related activities are not included in this report (see IBISWorld report 23822b).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.