$74.3bn
$X.Xbn
76,711
2,118
$X.Xbn
Heating and air conditioning wholesalers have enjoyed growth. During the pandemic, the residential market boomed thanks to low interest rates, which drove housing starts and home improvement projects. Wholesalers thrived because of this, with substantial demand for HVAC systems. However, interest rate hikes have since cooled this surge, leading to a drop in single-family home construction. In contrast, the apartment building market has remained resilient, buoyed by high homeownership costs pushing more people towards rentals. Wholesalers have also benefited from the commercial market's recovery, particularly renovations of existing properties and the expansion of warehousing driven by e-commerce. Industry revenue has been increasing at a CAGR of 0.7% over the past five years to total an estimated $74.3 billion in 2024, including an estimated increase of 4.9% in 2024.
Industry revenue has grown at a CAGR of 0.7 % over the past five years, to reach an estimated $74.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Watsco, Inc. | 6,684.9 | 645.7 | 9.7 | |
Lennox International Inc. | 4,827.1 | 672.8 | 13.9 | |
Linde Plc | 3,446.3 | 144.7 | 4.2 |
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Industry revenue is measured across several distinct product and services lines, including Central AC Units, Forced-air heating systems and Registers, grills, duct insulation and preformed ductwork. Central AC Units is the largest segment of the Heating & Air Conditioning Wholesaling in the US.
Demand for central AC units increased alongside housing growth
Industry wholesalers engage in buying, selling and distributing heating, ventilation and air conditioning equipment. This industry excludes in-room and in-window air conditioners and hydronic equipment (IBISWorld report 42372). Installation is also excluded; however, service and repair work are part of this industry, but these services account for only a small portion of industry revenue.
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NAICS 42373 - Heating & Air Conditioning Wholesaling in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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Changing interest rate levels induced volatility. Low rates led to strong growth in residential construction, but as rates climbed, growth slowed.
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Profit has remained stable. Despite significant supply chain issues increasing purchase costs, wholesalers have managed to pass these higher expenses onto customers and maint...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Heating & Air Conditioning Wholesaling in the US industry in United States is $74.3bn in 2024.
There are 2,118 businesses in the Heating & Air Conditioning Wholesaling in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
The market size of the Heating & Air Conditioning Wholesaling in the US industry in United States has been growing at a CAGR of 0.7 % between 2019 and 2024.
Over the next five years, the Heating & Air Conditioning Wholesaling in the US industry in United States is expected to grow.
The biggest companies operating in the Heating & Air Conditioning Wholesaling market in United States are Watsco, Inc., Lennox International Inc. and Linde Plc
Wholesaling central air conditioners (excluding in-room and in-window units) and Wholesaling forced-air furnaces are part of the Heating & Air Conditioning Wholesaling in the US industry.
The company holding the most market share in United States is Watsco, Inc..
The level of competition is high and steady in the Heating & Air Conditioning Wholesaling in the US industry in United States.