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2025 U.S. Industry Statistics & Market Forecast - Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing:
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 | 2020 2021 2022 2023 2024 | |
|---|---|---|
| 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 | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing industry include:- Increased focus on energy efficiency and sustainability
- Shift towards smart and connected HVAC systems
- Rising demand for indoor air quality systems
- Growth in residential and commercial construction activities
- Stringent environmental regulations driving innovation
- Adoption of environmentally-friendly refrigerants
- Expansion of geothermal and solar HVAC systems
- Integration of AI and IoT for predictive maintenance
- Increasing adoption of heat pumps
- Fluctuations in raw material prices
- Impact of global trade policies and tariffs
- Expansion in retrofitting and renovation markets
- Growth in data centers requiring precision climate control
- Heightened demand due to climate change and extreme weather conditions
- Shift towards subscription and service-based business models
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 Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing 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 Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing 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 Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing 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. |
|
| 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 | 7% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Business and Financial Operations Occupations | 6% | |||
| Architecture and Engineering Occupations | 11% | |||
| Engineers | 8% | |||
| Office and Administrative Support Occupations | 9% | |||
| Production Occupations | 50% | |||
| Assemblers and Fabricators | 16% | |||
| Miscellaneous Assemblers and Fabricators | 12% | |||
| Metal Workers and Plastic Workers | 20% | |||
| Machinists | 6% | |||
| Machinists | 6% | |||
| Welding, Soldering, and Brazing Workers | 7% | |||
| Welders, Cutters, Solderers, and Brazers | 6% | |||
| Other Production Occupations | 10% | |||
Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing 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 Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing 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 Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing industry. |
Source:
Latest Industry News
- Northeast Ohio Top Workplaces 2025: See the rankings for all 188 employers - Cleveland.com and The Plain Dealer are honoring 188 companies, nonprofits, schools and organizations in the 2025 Top Workplaces rankings. (06/29/2025)
- John W. Danforth Company opening Vermont office - Vermont Business Magazine John W. Danforth Company, one of the largest mechanical contractors in the northeast, is establishing an official presence in Vermont, with the opening of a new office in Williston. The office is Danforth’s sixth regional office and its first in Vermont. (06/27/2025)
- AC in the DMV: Laws around air conditioning vary in the DC region - A spokesperson for DC's Department of Consumer and Regulatory Affairs told WUSA9 that D.C. landlords are not required to offer AC Units. Developers are also not required to offer AC in new units. The DCRA spokesperson said that D.C. law does require that landlords maintain AC Units to a quality level, if they are offered to the tenant. (06/26/2025)
- 2 Air Conditioner & Heating Stocks to Watch in a Booming Industry - MSN - Air conditioning and heating equipment are sold in residential replacement, commercial and industrial HVAC (heating, ventilation and air conditioning), as well as residential new construction markets. (06/12/2025)
- Nano-engineered Thermoelectrics Enable Scalable, Compressor-Free Cooling - Researchers have developed a new, easily manufacturable solid-state thermoelectric refrigeration technology made with nano-engineered materials that is twice as efficient as current devices. (05/21/2025)
- A/C repair and installation may see an increase in prices because of tariffs - Tariffs on imported materials are driving up prices for air conditioning systems and components ... affected too much," Swanson said. However, commercial projects face more significant challenges ... (05/21/2025)
- Torin Celebrates 60 Years of British Manufacturing with Company Rebrand - Torin, a leading producer of energy-efficient fan technology to the global air movement industry, has celebrated six decades of British manufacturing with a company rebrand to reflect the forward-thinking business of today. (05/19/2025)
- The U.S. Air Conditioning Industry Crisis: A $25 Billion Problem - SKYROCKETING COSTS: A refrigerant crisis is straining budgets—and threatening public health. (Courtesy of iGas) (05/16/2025)
- Tariffs are threatening your air conditioning bill this summer - HVAC contractors are warning of shortages with temperatures already breaking records and summer utility bills on track to hit 12-year highs. (05/16/2025)
- Trump tariffs set to hike up the cost of air conditioning this summer - HVAC businesses say tariffs, a coolant shortage, record utility bills and forecasts for scorching summer temperatures are expected to add to the price hikes (05/15/2025)
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