AHRI Research Report: HVACR & Water Heater Industry Generated $211B+ for US Economy in 2021
The Air-Conditioning, Heating, and Refrigeration Institute released the results of 2021 economic analysis conducted on its behalf by the research firm Inforum. Using detailed census data, researchers concluded that HVACR and water heater manufacturers made significant contributions to the nationwide economy, directly and indirectly supporting 704,400 U.S. jobs, with a total economic output of $211.3 billion.
These figures demonstrate that, despite the economic challenges of the Covid-19 pandemic, the industry maintained its status as a strong job creator. Direct employment increased by more than 10,000 jobs between 2017 and 2021, growing from 125,900 to 137,300, reversing a trend that began during the Great Recession of 2008-09. This number excludes jobs created by other segments of the supply chain such as materials, energy or shipping.
The report found that manufacturers are, “especially important to states where activity is concentrated.” Texas accounted for the most direct and total output, generating $6.2 billion and $17.8 billion, respectively. Other states with sizable output included Missouri, Georgia and Ohio. California mainly benefited from total output, with the industry generating $8.3 billion in the state through manufacturing jobs, supplier jobs and spending from industry wages. The 52-page research report is available here.
