HVAC Companies Growth Data and Trends (USA Data Factoring In Performance and Trends From Over 1000 Companies)
This BuildOps study sought to analyze data from 1000 companies to uncover insights into employment trends & growth rates in the HVAC industry.
SANTA MONICA, CALIFORNIA, UNITED STATES, May 18, 2023/EINPresswire.com/ — A New Study Conducted By BuildOps Reveals a Changing Landscape of Commercial Growth Throughout the HVAC Industry
A comprehensive study conducted by BuildOps has shed new light on the evolving business growth patterns within the commercial HVAC industry over the past two years. The study sought to analyze data from a diverse sample of 1000 companies—consisting of small, midsize, and large businesses—and uncover valuable insights into employment trends and company growth rates.
Their research, which focused on tracking employee headcount and related insights obtained through LinkedIn profiles, examined three different periods of time: six months, eleven months, and two years. This timeframe captured the second part of the COVID-19 pandemic and the subsequent recovery phase thereafter. These insights give us a unique perspective on the industry’s recent performance.
The Impact of Field Service Management Software
An in-depth analysis of these 1000 businesses revealed a significant advantage for companies leveraging the BuildOps platform. On average, businesses using BuildOps grew 10.6% faster compared to other companies using competing field service management software—or no software at all. These findings further illustrate the critical role technology plays within the commercial HVAC industry.
Growth Rate Observed By Company Size
Out of the 1,000 HVAC companies sampled, 34% expanded and moved out of the small business segment (20 employees or less) over a two-year period. Furthermore, companies experiencing a growth rate of 10-20% accounted for approximately 16-18% of the total sample, while those with modest 1% to 5% growth tripled in number over the past two years.
Companies with 100 employees or more showed the highest growth potential, with 80% experiencing growth in the past six months and 91% over the past two years. Midsize companies (20-100 employees) exhibited a 60% growth rate in the past six months and 81% over the past two years. However, small businesses with fewer than 20 employees experienced a decline in growth probability, reaching only 22% in the last six months and 45% over the past two years.
Headcount Stability and Volatility
Companies with 100 employees or more showed the highest growth potential, with 80% experiencing growth in the past six months and 91% over the past two years. Midsize companies (20-100 employees) exhibited a 60% growth rate in the past six months and 81% over the past two years. However, small businesses with fewer than 20 employees experienced a decline in growth probability, reaching only 22% in the last six months and 45% over the past two years.
These findings underscore the dynamic nature of the commercial HVAC industry and highlight the need for companies to adapt to emerging technological trends. The study serves as a valuable resource for business owners, industry professionals, and stakeholders seeking to navigate the evolving landscape and make informed decisions regarding their own growth strategies.
You can read the full report here.
About BuildOps
BuildOps is a fast-paced, high-growth technology company committed to transforming a $300B+ industry through an innovative all-in-one SaaS platform. We’re taking commercial specialty contractors from the world of pen and paper and legacy platforms to world-class cloud-based, data-driven operations. Our leadership team has decades of experience in the Construction and SaaS technology industries. BuildOps has raised over $100M in funding from some of the largest and most reputable venture capital investors, including Founders Fund, 01 Advisors, Next47, and Fika Ventures.
Ivan Roubtsov
BuildOps
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