The U.S. market for HVAC manufacturing is recovering from a period of economic setback that started in 2008. HVAC manufacturers had previously enjoyed a period of steady growth between 1997 to 2006, when equipment sales for heating systems and air conditioners increased 41% and 45%, respectively.
But the economic downturn led to a depressed real estate selling market, a reduction in homeowner remodeling, and a virtual stoppage of new residential and commercial construction. This trend eventually led to layoffs and temporary work stoppages at factories that manufacture HVAC equipment.
“Growth of the industry will begin to accelerate by 2015,” says Darren Bosik, analyst with SBI market research publishing, “when the impact of government-funded initiatives is felt in U.S. construction and housing industries, most notably the movement to construct zero-energy buildings (ZEB).” Critical to the growth of HVAC manufacturing is the resurgence of U.S. household remodeling and the recovery of new construction and housing and related industries such as steel.
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). The two categories are characterized by lower unit costs, and demand will increase with an expected boom in construction projects that require replacements of these products.
Sustainable technologies and products, including electric air source and geothermal heating pumps, and a trend toward constructing ZEBs – buildings that produce as much energy and they consume – will further fuel a return to growth in the HVAC market. SBI Energy projects the total shipment value of HVAC manufacturing products to reach $14.5 billion in 2012, growing to nearly $17 billion by 2017.
HVAC, 3rd Edition from heavy industry and energy market research publisher SBI analyzes products, manufacturers and trends in the U.S. market for heating, ventilation and air conditioning (HVAC). The report contains comprehensive data on U.S. shipments, imports and exports, and end-use markets, and the growing market for high efficiency, green HVAC equipment such as geothermal units, remote monitoring and control devices, programmable thermostats, and smart cooling fans. It also identifies key issues and trends affecting the marketplace. The report profiles major manufacturers and includes market projections and expected growth rates for the period 2012 to 2023. For more information on HVAC, 3rd Edition, please visit: http://www.sbireports.com/
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit www.sbireports.com