In a new report examining the Canadian HVAC industry in Q4 2021, Baker Tilly Canada Capital Corporation analyzes the industry’s strong performance. Industry fundamentals remain solid due to growing investment in non‑residential construction, despite a decrease in both the number of housing starts and investment in construction (which is due to seasonality). Inflation rates through the pandemic were high, with fiscal policies that injected cash into the economy. As a result, interest rates are on the rise following the global recovery.
Demand for HVAC mergers and acquisitions remains healthy, as evidenced by the many deals which were closed, and which helped make 2021 the best year for Canadian deals in the last decade. Meanwhile, in the public markets, both HVAC manufacturers and installers have seen revenues recover from the downturn caused by the pandemic. As the government tackles climate change with initiatives that support growth, the HVAC industry is expected to continue performing strongly.
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