$133.7bn
$X.Xbn
568k
114k
$XX.Xbn
Having seen slight growth through the end of 2024, revenue for the heating and air-conditioning contractors industry is influenced by changes in per capita disposable income, interest rates, consumer spending and a host of other drivers. HVAC contractors operate a steady business thanks to the necessity of their services and regular repair and maintenance work. Government support, including Qualified Improvement Property (QIP) tax write-offs, has aided revenue growth.
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $133.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Emcor Group, Inc. | 5,037.7 | 289.1 | 5.7 | |
Comfort Systems Usa, inc. | 3,687.7 | 279.4 | 7.6 | |
Acco Engineered Systems, Inc. | 713.2 | 37.8 | 5.3 |
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Industry revenue is measured across several distinct product and services lines, including New construction HVAC installations, Existing structure HVAC installations and HVAC maintenance and repairs. New construction HVAC installations is the largest segment of the Heating & Air-Conditioning Contractors in the US.
Spending on new HVAC installations follows trends in the housing market
Heating and air-conditioning contractors in the United States install and service heating, ventilation, air-conditioning (HVAC) and refrigeration equipment. Companies perform new installations, additions, alterations, maintenance and repairs. Contractors also repair various structures, including homes, office buildings, manufacturing plants and educational facilities.
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NAICS 238220 - Heating & Air-Conditioning Contractors in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Climate change is driving up HVAC demand. Hotter summers mean households and businesses increasingly rely on HVAC systems to stay comfortable.
Learn about an industry's products and services, markets and trends in international trade.
Nonresidential Construction Faces Mixed Fortunes. While inflation and remote work challenges hurt HVAC needs in office buildings, healthcare facilities and manufacturing plan...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Large cities attract contractors to the Mid-Atlantic. New York and Philadelphia contain big apartment complexes requiring intricate HVAC systems, contributing to the high con...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Start-up costs are low for HVAC contractors. The ease of entry leads to a high concentration of smaller companies and stiff competition in local markets.
Learn about the performance of the top companies in the industry.
The largest contractors offer various services. The two biggest HVAC maintenance companies, Comfort Systems and EMCOR, provide additional services such as plumbing, encouragi...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Environmental regulations influence HVAC contractors. Contractors must abide by environmental regulations such as the CERCLA and Title VI of the Clean Air Act, which regulate...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit isn't that volatile. Maintenance of HVAC systems is a required expenditure for households, so profit doesn't fluctuate much during recessions or expansions.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Heating & Air-Conditioning Contractors in the US industry in United States is $133.7bn in 2024.
There are 114k businesses in the Heating & Air-Conditioning Contractors in the US industry in United States, which has grown at a CAGR of 2.1 % between 2019 and 2024.
The market size of the Heating & Air-Conditioning Contractors in the US industry in United States has been growing at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Heating & Air-Conditioning Contractors in the US industry in United States is expected to grow.
The biggest companies operating in the Heating & Air-Conditioning Contractors market in United States are Emcor Group, Inc., Comfort Systems Usa, inc. and Acco Engineered Systems, Inc.
New construction HVAC installations and Existing structure HVAC installations are part of the Heating & Air-Conditioning Contractors in the US industry.
The company holding the most market share in United States is Emcor Group, Inc..
The level of competition is high and increasing in the Heating & Air-Conditioning Contractors in the US industry in United States.