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2024 U.S. Industry Statistics & Market Forecast - Steam and Air-Conditioning Supply
Market Size & Industry Statistics
The total U.S. industry market size for Steam and Air-Conditioning Supply:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Steam & Air-Conditioning Supply industry is undergoing significant shifts, largely driven by advancements in technology, regulatory shifts, rising demand for energy-efficient solutions, and a commitment towards environmental sustainability.One notable trend is the growing preference for advanced building management systems (BMS) that enable precise control over heating, ventilation and air conditioning (HVAC) systems. Another trend emerging is an increasing focus on sustainability with the introduction of green HVAC systems such as solar-powered air conditioning.
The industry is also witnessing rapid growth in demand for smart and connected solutions, which offer remote access to vital information on energy consumption, temperature and humidity levels, and predictive maintenance. This allows for early detection of system malfunctions and timely resolution of issues.
Furthermore, advancements in sensors, IoT and AI are changing the way in which HVAC systems are designed, operated and monitored. This has opened up endless possibilities for optimizing energy usage, reducing carbon emissions and enhancing overall system performance. Issues like energy efficiency and air quality are driving investment and innovation in this industry, as the systems are required to match the evolving needs of building owners and managers.
The rise of eco-friendly refrigerants, such as hydrofluoroolefins and refrigerants with low global warming potential, is another key trend. Many countries are phasing out high global warming potential (GWP) refrigerants, and this has led to the development of more environmentally friendly alternatives.
Overall, as technology continues to transform the way in which buildings are designed, operated and maintained, it is clear that the Steam & Air-Conditioning Supply industry will continue to evolve and adapt to meet the demands of a rapidly changing market.
Product & Services Breakdown
Research products and services in the Steam and Air-Conditioning Supply industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Natural Gas Distribution To Final Consumer |
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Steam And/Or Air-Conditioning |
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Water |
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Electricity - Generation |
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Other Products |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Steam and Air-Conditioning Supply company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Steam and Air-Conditioning Supply industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Steam and Air-Conditioning Supply measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
|
| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
|
| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 9% | Order at top of page |
||
| Top Executives | 6% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 6% | |||
| General and Operations Managers | 6% | |||
| Office and Administrative Support Occupations | 23% | |||
| Other Office and Administrative Support Workers | 6% | |||
| Office Clerks, General | 5% | |||
| Office Clerks, General | 5% | |||
| Construction and Extraction Occupations | 9% | |||
| Construction Trades Workers | 7% | |||
| Installation, Maintenance, and Repair Occupations | 12% | |||
| Other Installation, Maintenance, and Repair Occupations | 10% | |||
| Maintenance and Repair Workers, General | 5% | |||
| Maintenance and Repair Workers, General | 5% | |||
| Production Occupations | 32% | |||
| Plant and System Operators | 27% | |||
| Water and Wastewater Treatment Plant and System Operators | 26% | |||
| Water and Wastewater Treatment Plant and System Operators | 26% | |||
Steam and Air-Conditioning Supply Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Steam and Air-Conditioning Supply industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Steam and Air-Conditioning Supply industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Steam and Air-Conditioning Supply industry. |
Source:
Innovation News
- May 10, 2023: Air Source America trademarks "BUEHLER AIR CONDITIONING" - Advisory services relating to the installation of heating and cooling apparatus; Air conditioning contractor services; Air duct cleaning services; Heating contractor services; HVAC contractor services; Installation, maintenance and repair of heating, cooling, HVAC systems and equipment; Installation, maintenance and repair of heat pumps, air ducts, ductless mini-split HVAC systems, air filters, air purifiers, dehumidifiers, energy recovery ventilators; Providing information related to the installation, maintenance and repair of heating, cooling, HVAC systems and equipment
- May 10, 2023: Air Source America trademarks "BUEHLER AIR CONDITIONING" - Advisory services relating to the installation of heating and cooling apparatus; Air conditioning contractor services; Air duct cleaning services; Heating contractor services; HVAC contractor services; Installation, maintenance and repair of heating, cooling, HVAC systems and equipment; Installation, maintenance and repair of heat pumps, air ducts, ductless mini-split HVAC systems, air filters, air purifiers, dehumidifiers, energy recovery ventilators; Providing information related to the installation, maintenance and repair of heating, cooling, HVAC systems and equipment
- May 10, 2023: Air Source America trademarks "STAY COOLER WITH BUEHLER" - Advisory services relating to the installation of heating and cooling apparatus; Air conditioning contractor services; Air duct cleaning services; Heating contractor services; HVAC contractor services; Installation, maintenance and repair of heating, cooling, HVAC systems and equipment; Installation, maintenance and repair of heat pumps, air ducts, ductless mini-split HVAC systems, air filters, air purifiers, dehumidifiers, energy recovery ventilators; Providing information related to the installation, maintenance and repair of heating, cooling, HVAC systems and equipment
Recent Federal Contracts for Steam and Air-Conditioning Supply- Mar 28, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,950
- Mar 27, 2024: GEOTHERMAL SOLUTIONS INCORPORATED (Hankinson, ND) awarded $25,138
- Mar 08, 2024: COMMERCIAL AIR, INC. (Little Rock, AR) awarded $9,867
- Feb 29, 2024: BACO LLC (Springfield, OH) awarded $2,146,167
- Feb 27, 2024: ALLIED AIR COMPRESSOR, INC. (Glen Burnie, MD) awarded $592,837
- Feb 26, 2024: CPF, LLC (Prince Frederick, MD) awarded $8,886,106
- Mar 28, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,950
- Mar 27, 2024: GEOTHERMAL SOLUTIONS INCORPORATED (Hankinson, ND) awarded $25,138
- Mar 08, 2024: COMMERCIAL AIR, INC. (Little Rock, AR) awarded $9,867
- Feb 29, 2024: BACO LLC (Springfield, OH) awarded $2,146,167
- Feb 27, 2024: ALLIED AIR COMPRESSOR, INC. (Glen Burnie, MD) awarded $592,837
- Feb 26, 2024: CPF, LLC (Prince Frederick, MD) awarded $8,886,106
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