US HVAC Industry to Get Higher Demands in 2019
The future of the HVAC industry is said to be much better in the coming years. Recent studies show that the HVAC equipment market can expect a lot more years of having above-average growth, especially in the United States where it is anticipated to have an estimated 6.8% increase every year starting in 2019. Some experts forecast that the overall revenue in this industry may reach the $20 billion mark, almost twice as the total income of the industry from 2009-2014.
Positive Effects of Regulations on HVAC Industry
Implementing new regulations especially in the equipment efficiency and use of refrigerants will give a positive impact on the industry. It may also lead to better chances for contractors and manufacturers to attain higher sales in the next few years. For example, due to the continuous changes in the regulations, owners may be obliged to replace a lot of their HVAC appliance to conform to the set standards and at the same time, upgrade their equipment.
Take for instance the case of R-22 refrigerants that will be completely phased out due to its ozone depletion potential and high global warming potential. Before 2020, owners of R-22 refrigerants must change their units and favor latest models that conform to the newest standards and regulations.
Better Future for Warm Air Furnaces and Heat Pumps
With the increase in the number of housing units projected in 2019, numerous residential HVAC equipment installations will be required and will mainly contribute to the cost increase of individual residential HVAC units. However, non-residential HVAC market will continue to soar high due to the higher costs and larger size of HVAC systems used in this category. It will also reign supreme when it comes to the overall share of HVAC equipment demand.
A 5 percent growth in 2015 to 2016 is expected for the US Commercial HVAC market grounded on a growing non-residential construction recovery with 7 percent increase and 4 percent replacement.
Additional Details on the Research
The research primarily covered the HVAC industry in the United States, which included the residential and non-residential units and equipment. Portable forms of heaters, dehumidifiers, humidifiers, and other ventilation systems were not integrated into this study.
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