These 10 largest HVAC companies in the USA on our list are hot when it comes to keeping individuals and commercial spaces cool and ventilated. In this article, we will present to you why we say these 10 are largest HVAC companies and also some important aspects that helped them make it to our list. We will focus on HVAC equipment manufacturing companies (OEMs, neither ancillaries nor accessory manufacturers) only. Before we start with our rankings, let’s spend some more time learning what these companies do and why they are so essential that we wrote one whole article on them.
HVAC stands for Heating, Ventilation and Air Conditioning. From being considered just a luxury, HVAC has become a critical element in the functioning of modern day facilities. According to TechSci Research, the global HVAC market will be USD 207 billion in 2022. In the USA itself, this market is worth USD 88 billion and is expected to grow at a CAGR (Compound Annual Growth Rate) of 4%. As the name implies it deals with maintaining ambient temperature within a closed space inside the allowable limits. It can achieve this by raising or lowering the air temperature inside the room, naturally or artificially ventilating the space. It ensures better air quality by removal of dust, bacteria, and odor. Such qualities are essential in hospitals, research laboratories, and commercial establishments having a large working population like IT companies or sales lounges. According to many studies, good air quality can improve employee productivity, and as such, it indirectly contributes to the performance of an organization.
An aspect that would define the growth of HVAC industry as whole and largest HVAC companies in the world are the issues related to climatic change. Green energy will become increasingly relevant and integral concept in building designs. Role of HVAC engineers will be vital in designing efficient HVAC systems that can adhere to the green building concepts. Another profession that is involved in increasing process efficiency and thereby cost optimisation is the Industrial Engineering. Our article 10 Top Companies and Best Jobs for Industrial Engineers will throw some light on growth prospects for industrial engineers and companies that require their services. Similarly, through this article, we would try to understand which of these HVAC companies got their acts right and climbed to the top. To learn more about fastest growing HVAC companies in the USA, check out Plumbing Marketing.
So, in order to compiling this list of HVAC companies in USA, we have considered primarily two parameters, revenues generated from the sales of HVAC and allied equipment. The latest data for these are sourced from annual reports of respective companies, financial information websites like D&B Hoovers, and ranking agencies like Fortune 500. We have provided links to these annual reports wherever the same were available. The financial year 2016 is taken as the reference year. Revenues were given a weight of 70% in final ranking score. The second parameter utilized in ranking these companies is the market share of these companies specifically in USA market. This data was sourced from Statista – the portal for statistics. Market share was given the weight of 30% in final ranking score. However, it should be noted here that, as many of the information like market capitalization, as well as stand-alone financial and market share data is not available, certain assumptions are incorporated to arrive at realistic information. While ranking the largest and probably the best HVAC companies in US, we are not separating largest residential HVAC companies and largest commercial HVAC companies, as most of these companies cater to both the segments.
Based on these parameters, here is the list of 10 largest HVAC companies in the USA.