The Verified Market Research Report shows that the heat pump market is valued at$74.73 billion in 2024 and is expected to reach $167.32 billion by 2031.
As more and more companies are being acquired by private equity, the market is drastically changing, meaning the smaller contractors need to learn to adapt to survive.
Despite running into the same root cause over and over again, the industry still hasn’t learned that HVAC equipment and an HVAC system are two very different things.
The report estimates that the global HVAC market is valued at $218.32 billion now and is expected to reach $338.62 billion by the end of the forecast period.
The 27,000-square-foot Jackson, Tennessee, location will have five team members, including a branch manager, salespeople, and warehouse personnel, and is expected to open by the end of the year.
If you’re thinking about selling your business within the next year, interest rates will have a definite impact on the number of buyers who will be able to offer top dollar for your company.
“We have sales declines during two of the first three months of cooling season versus the boom times of 2022,” said Brian Loftus, macroeconomic and residential market analyst at HARDI.