Aug. 29, 2014: HVAC Service Franchises Industry Forecast to See Growth
Strong Performance from 2012 to 2014 Is Not Anticipated to Fully Bring the Industry to Pre-Recessionary Levels
NEW YORK — The HVAC service franchises market has seen improved performance over the last two years, and can expect industry growth to 2019, according to a report from IBISWorld.
As IBISWorld notes, after the housing bubble burst, both nonresidential and residential construction plummeted, pushing industry revenue down from 2009 to 2010. Furthermore, demand for maintenance and upgrades waned as well, due to declining corporate profit and per capita disposable income. Since then, demand for HVAC services has quickly picked up as construction expenditures recovered. In 2014, industry revenue is expected to rise as demand fully recovers. Overall, IBISWorld projects annual growth of 3.6 percent from 2009 to 2014, though growth is partly due to the recovery from recession lows.