United States. According to the market report published by Ibis World international, HVAC industry profits have fallen by an annual average of -1.4%, to US$61 billion in the period between 208 and 2013.
According to the analysis, this industry includes 78,002 companies and employs 263,741 people in the United States.
Ibis World International says the total collapse of the housing market and the subsequent economic downturn caused new construction activity to decline dramatically.
Moreover, as unemployment increased and businesses reduced operations, more vacancies appeared in commercial buildings and demand for new non-residential structures weakened. These factors hurt the demand for HVAC installations in all construction markets.
