Heating & Air-Conditioning Contractors in the US
Maintaining, monitoring and repairing existing equipment also accounts for a significant share of revenue, lending a stable source of revenue to the Heating and Air Conditioning Contractors industry when construction markets fluctuate. These service segments also make the industry susceptible to changes in levels of disposable income. Over the five years to 2018, construction activity has expanded and per capita disposable income has risen. The industry benefited from steady demand in long-term facilities' maintenance and repairs, which consumers generally cannot put off. Along with stronger demand coming from downstream markets, national standards for energy efficiency, as well as a growing trend toward lowering household and business energy use, are projected to encourage building owners to upgrade to more efficient systems. Rising electricity prices are also expected to motivate households to purchase or upgrade to more efficient HVAC systems so that they can lower their electricity bills over the long term. Consequently, over the five years to 2023, industry revenue is anticipated to increase.
This industry comprises companies that primarily install and service heating, ventilation, air-conditioning (HVAC) and refrigeration equipment. Operators perform tasks that include new installations, additions, alterations, maintenance and repairs. Plumbing and related activities are not included in this report (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.