HVAC industry remains fragmented with 50,000-100,000 independent operators

Despite extensive consolidation, the U.S. HVAC industry remains substantially fragmented at the establishment level with approximately 50,000 to 100,000 independently owned operators and $159.4 billion in industry revenue.

“the U.S. HVAC industry remains substantially fragmented at the establishment level (approximately 50,000 to 100,000 independently owned operators, with IBISWorld 2026 reporting industry revenue of 159.4 billion U.S. dollars)”

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