This Goodway report of February 4, 2013, opens, “Economic prospects are looking up for the HVAC industry in 2013 as those involved in heating, ventilation and air conditioning, and related industries see potential for growth.” This optimism is based on new construction powered by the recovering housing market in addition to heightened public interest in green HVAC technologies.
Goodway Director Tim Robb also predicts the increasing importance of regional energy efficiency standards for 2013. Because HVAC systems account for over half the power usage in southern areas of the country, the demand for the installation of newer, energy-efficient systems will increase. Also, owners of both commercial and residential buildings that continue to use older units will be looking for ways to integrate them with ancillary systems such as solar water heating and house fans to achieve greater efficiency.
Likewise, ReportLinker notes that the worldwide HVAC equipment market should see demand rise at least 6 percent each year through 2014, achieving a total market worth in excess of $88 billion. Further, because of the gradual recovery of the residential housing market from the recent lows of 2009, the United States will lead global demand.
SBI Energy analyst Darren Bosik echoes that prediction, with the additional observation that this industry growth will see an acceleration in 2015, “when the impact of government-funded initiatives is felt in U.S. construction and housing industries.” The report also states, “Driving the total HVAC equipment manufacturing growth to 2017 will be heat transfer equipment (4.4% CAGR) and air source heat pumps (4.9% CAGR).” This growth can also be attributed to the use of this equipment in new construction projects.
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