Plumbing & HVAC Contractors Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 7/18/2022
SIC Codes: 1711
NAICS Codes: 23822
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Plumbing & HVAC Contractors Industry Profile

Companies in this industry install and service plumbing, heating, and air-conditioning equipment. Major companies from the US include ARS/Rescue Rooter, Comfort Systems USA, EMCOR, and TDIndustries.

Global demand for plumbing and HVAC services is increasing as economies progress and rising consumer inclination for comfort and luxury. The global market is projected to reach about $370 billion by 2030 with a compound annual growth rate (CAGR) of 3.9% between 2020 and 2030, according to Statista. Plumbing and HVAC contractors typically operate regionally, but some large companies are beginning to expand globally.

The US plumbing and HVAC contractors industry includes about 105,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $120 billion.

COMPETITIVE LANDSCAPE

New technology for HVAC and plumbing applications are driving growth in the industry. Systems that connect HVAC, lighting, and security elements as well as tools to monitor energy use and efficiency are popular in residential and commercial installations. The growing use of voice-control devices like Amazon's Alexa or Google Home is also driving residential demand for newer HVAC systems. Smart tech is also driving plumbing demand with personalization of shower and toilet function key for home markets and water efficiency for toilets and faucets important to larger installations. Some smart fixtures can also diagnose problems and alert for needed maintenance. Contractors experienced in new technology can benefit from new construction and remodeling demand as well ...

 
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