Heating and Air Conditioning in the US Industry Market Research Report from IBISWorld Has Been Updated

Similar to most industries within the construction sector, the Heating and Air Conditioning industry has been quite volatile over the past five years; nevertheless, demand for industry services is projected to heat up over the five years to 2019 as pent up demand across the construction sectors, which began to slacken quickly in 2012 and 2013, is forecast to boost demand for new HVAC installations, the industry's primary service segment. For these reasons, industry research firm IBISWorld has updated a report on the Heating and Air Conditioning industry in its growing industry report collection.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This
As more homes and commercial structures are built, demand for industry technicians will increase.

New York, NY (PRWEB) May 12, 2014

The Heating and Air Conditioning industry is heavily influenced by activity in the construction market, with the majority of income generated from heating, ventilation and air-conditioning (HVAC) installations in new residential and nonresidential structures. Maintaining, monitoring and repairing existing equipment also accounts for a significant share of revenue, lending stability to the industry due to the volatile construction markets of recent years. These service segments also make the industry susceptible to changes in levels of disposable income. Ultimately, in the five years to 2014, Heating and Air Conditioning industry revenue is expected to increase at an annualized rate of 4.1% to $70.8 billion.

According to IBISWorld Industry Analyst Omar Khedr, “The collapse of the housing market and subsequent economic recession caused new construction activity to dramatically decrease.” Between 2009 and mid-2011, demand for new housing was hampered by an oversupply of existing homes and declining property values. Nonresidential building construction activity also declined, as the economic downturn caused a contraction in the business sector. As unemployment increased and businesses reduced operations, more vacancies in commercial buildings appeared and demand for new nonresidential structures weakened. Consequently, these factors hurt demand for HVAC installations across the construction markets.

After revenue declined from 2009 to 2010, the industry rebounded in 2011 and recorded growth of 13.0% in 2012, followed by a 3.7% increase in 2013. “Positive signs in the housing market indicate the construction sector's burgeoning return to strength,” says Khedr. As more homes and commercial structures are built, and require HVAC system installations, demand for industry technicians will strongly increase. Furthermore, national standards for energy efficiency and a growing trend toward lowering household and business energy use, is projected to encourage building owners to upgrade to more efficient systems.

For more information, visit IBISWorld’s Heating and Air Conditioning in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

The Heating and Air Conditioning 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).

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


Contact

  • Gavin Smith
    IBISWorld
    +1 310-866-5042
    Email