Steam & Air-Conditioning Supply in the US - Industry Market Research Report

Steam & Air-Conditioning Supply in the US

Steam and air-conditioning suppliers provide district energy for heating and cooling. Through the end of 2023, sustained growth in the commercial utilities real estate segment, the industry's largest market, buoyed suppliers. Still, the COVID-19 pandemic significantly halted activity within the nonresidential building market and forced businesses to revise construction plans amid the plummeting economic environment. The suppressed nonresidential market will continue declining throughout 2023, attributable to the long-lead times associated with the larger nonresidential building projects. Still, heightened activity within the residential construction market and an anticipated recovery in corporate profit due to the widespread distribution of the COVID-19 vaccine will significantly offset the stifled commercial market. Revenue for steam and air-conditioning suppliers has been expanding at a CAGR of 1.5% over the past five years and is expected to total $1.8 billion in 2023, when revenue will fall an estimated 1.9%. Profit will also increase due to declining wage costs.

Operators in this industry supply district energy for heating and cooling. Typically, they generate hot and cold water or steam via closed mains systems to cool or heat commercial or residential buildings. Only companies whose primary operations involve steam and air-conditioning supply are included in the industry; large utility companies that provide steam and air-conditioning in addition to other more extensive operations are not included in the industry.

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.