It’s no secret that Americans have spent more time at home during the COVID-19 pandemic and as a result, they’ve put more pressure on their homes’ systems, thereby increasing the demand for home services like HVAC. According to a report on Fox Business from last fall, HVAC technicians saw a nearly 109% increase in service requests — and this demand shows no sign of slowing down, especially in the midst of peak heating repair season this winter and a residential construction boom. That said, it’s obvious that businesses in this industry are primed to scale and grow.
However, while growth may be the case for a number of these businesses, it’s not necessarily the future of every HVAC business. In fact, because of several driving factors, businesses in the HVAC space are best positioned for market consolidation.