Heating and Air-Conditioning Contractors in Canada Industry Market Research Report Now Available from IBISWorld
New York, NY (PRWEB) November 03, 2014 -- The Heating and Air-Conditioning Contractors industry is heavily impacted by activity across Canada's construction markets, with the majority of revenue generated from heating, ventilation, and air-conditioning (HVAC) installations in new residential and nonresidential buildings. “Maintaining, monitoring, and repairing existing equipment also accounts for a significant share of revenue, lending stability to the industry during periods of heightened volatility in construction markets,” Omar Khedr. These service segments, however, also make the industry susceptible to changes in levels of disposable income. Ultimately, in the five years to 2014, industry revenue is expected to increase at an annualized rate of 3.2% to $16.5 billion.
The quick rebound of the housing market and subsequent economic growth caused new construction activity to dramatically increase. From 2010 until 2013, demand for new housing grew due to rapidly increasing property values. In the five years to 2014, the value of residential construction is expected to increase at an annualized rate of 3.8%, including increases of 8.9% in 2010 and 6.2% in 2012. “Nonresidential construction activity also experienced strong growth, as the economic recovery spurred growth in the business sector,” says Khedr. As businesses increased operations, fewer vacancies in commercial buildings appeared and demand for new nonresidential structures rose. Consequently, these factors boosted demand for HVAC installations across construction markets.
Despite cooling in 2013 due to a contraction in downstream construction markets, demand for industry services has already begun to heat up in 2014. Positive signs in the housing market indicate the construction sector's burgeoning return to strength, with housing starts expected to increase over the next five years. 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 trend toward lower household and business energy use are projected to encourage building owners to upgrade to more efficient systems.
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IBISWorld industry Report Key Topics
This industry installs and services heating, ventilation, air-conditioning and refrigeration equipment. The work performed includes new installations, additions, alterations, maintenance and repairs. Plumbing-related information is not covered in this report.
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
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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 and Canadian 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.
Gavin Smith, IBISWorld Inc., http://www.ibisworld.com, +1 (310) 866-5042, [email protected]
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