Issues that affect the HVAC industry are not singular in scope: it’s not just the technology, or the environment or new energy requirements, or the improving economy. In fact, all of these considerations are driving the growth in this sector, according to a recent global industry analysis.
Furthermore, the expected compound annual growth rate, or CAGR, expected for worldwide in this equipment market is expected to hit 8.9% from 2012 to 2018. That should translate to an expenditure in the range of $139 billion,
The healthy commercial market is riding on high in certain regional markets, again being driven by not only the manufacturer’s contributions in technology, but also new energy regulations. The non-residential area of this sector is affected, in part, by the uptick in tourism activity.
Overall, the commercial HVAC industry worldwide accounted for around 40% of total market share in 2012. Part of this growth is attributed to increases in urbanization, as well as the consumer’s spending on “luxury goods and services.”
Too, …”growth across North America is showing signs of recovery, particularly in the residential sector. “
The survey drilled down on a number equipment segments, such as:
* Heat pumps, furnaces, unitary heaters and boilers.
* Room AC, unitary AC and coolers.
* Ventilation: Fans/Air pumps
The survey pointed out how competitive the HVAC market is throughout the entire supply chain.
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