Industry Analysis & Industry Trends
Similar to most industries within the construction sector, the Heating and Air Conditioning industry has been quite volatile over the past five years. In 2009, new residential and nonresidential construction went into historic decline. Business expansion plans were also halted and cut into new commercial construction, while the large number of unsold homes on the market discouraged new residential construction. At the same time, falling per capita disposable income prevented consumers from upgrading heating, ventilation and air-conditioning (HVAC) systems. Nevertheless, demand for industry services is projected to heat up over the next five years... purchase to read more
Industry Report - Industry Products Chapter
HVAC installations are expected to account for about 66.3% of industry revenue in 2014, up from 64.0% in 2009. The historic decline in new construction activity led HVAC installation work to shrink as a share of revenue from 2009 to 2010. Maintenance services (which are somewhat more resistant to economic downturns) grew as a share of revenue in turn. In 2011, construction markets began to recover; with rapid growth expected in 2014, IBISWorld expects that installation work will return to historical portions of revenue.
The decline in installation activity was driven by the collapse of the real estate market during the recession... purchase to read more