As per a recent study by a research firm based in Cleveland, the demand in the United States for HVAC equipment is predicted to increase 6.8% yearly through 2019 to USD20.4 billion, posting profits at around double the rate during the 2009-2014 duration.
The research also shows data for historical demand from 2004, 2009, and 2014 in addition to predictions for 2019 and 2024 by market, fuel type and equipment type. It also takes into consideration the environment factors of the market, inspects the structure of the industry, and assesses market share of the company in addition to profiling around 32 HVAC manufacturers in the US.
A majority of the progresses will be due to the healthy profits in building construction spends, particularly development in repair and improvement expenses as demand for replacement donates around 3/4th of total sales in a specific year. Progresses will also be the result of the increasing demand for highly efficient HVAC systems and associated products with high levels of technological advancements since these are generally higher value items.
Kyle Peters, an analyst pointed out stating – “Federal tax incentives which were targeted at high –efficiency systems installed in the residential market expired at the end of 2014. A number of homeowners took advantage of those incentives and replaced their HVAC systems ahead of schedule, so the pool of units needing to be replaced will be smaller, reducing sales in the short term.”
Imports will contribute for an increasing demand share for all HVAC equipment, crossing 25% of the total in 2019. The regulations for equipment efficiency and refrigerant usage will further continue to increase the demand for replacement, which in turn will have a positive effect on the demand for HVAC demand. This is good news for leading HVAC retailers in the US like www.watsco.com, www.nationalairwarehouse.com, www.trane.com, and others as they would be enjoying the greatest benefits in terms of good sales and increased profits.
As per the study, warm-air furnaces and heat pumps will have the greatest demand, while unitary ACs will continue to possess the total HVAC system demand’s largest share, adding to almost 44% of sales before 2019.
Furthermore, the growth in residential market will considerably outdo that in the nonresidential market before 2019. There will ample need for new residential HVAC installations.
Company Name: PRA
Contact Person: Rob
City: Los Angeles
Country: United States