Market Overview
Representative HVAC Services Investment Thesis Driving Increased Levels of Investment
- Recurring demand growth driven by maintenance, repairs, and replacements of aging residential and commercial HVAC systems, largely consisting of nondiscretionary spend.
- Regional brand strength and strong online ratings drive customer acquisition and retention, enhancing sales through targeted marketing.
- Fragmented industry presents value-creation opportunities through consolidation, operational efficiencies, and service line expansion.
Industry Snapshot
~150k
HVAC Companies in the U.S.
10-20 Years
Average HVAC System Lifespan
<90%
Of households in the U.S. utilizing HVAC equipment
~50%
Of commercial buildings in the U.S. rely on outdated HVAC Systems (>20 years)
