Study #: 3730 | Published: 04/2019 | Pages: 257 | Individual User License: US$ 5,600

US demand for heating, ventilation, and air conditioning (HVAC) equipment is forecast to reach $25.1 billion in 2023 on increases of 3.9% per year, a deceleration from the rate of the 2013-2018 period due to two main factors:

  • moderating replacement sales, as pent-up demand following the Great Recession has been alleviated
  • slowing building construction, which will reduce the number of HVAC systems installed in new buildings

The majority of expected demand increases will continue to stem from the replacement of existing equipment that has reached the end of its operational lifespan with better performing, and typically higher value, equipment.

Key Findings in the HVAC Equipment Study:

Sales of Heat Pumps Tied To Availability of Tax Credits

Heat pump sales have surged since 2013 due to their greater energy efficiency, growing consumer awareness, their ability to control the temperature by room, and the existence of federal tax credits. However, the Residential Energy Efficiency Tax Credit expired at the end of 2017, dampening sales in the short term. The credit was reinstated for geothermal heat pumps in 2018, which will boost sales until its expiration in 2021, after which there is expected to be a drop in geothermal heat pump sales.

The South Will Remain the Largest Regional Market with Best Opportunities

The South accounts for the largest share of US HVAC equipment demand in any given year and had 45% of US sales in 2018. The South has the largest building stock of any region and a warm climate, resulting in the widespread use of nearly all types of HVAC equipment – particularly air conditioning equipment and heat pumps – resulting in a substantial replacement market. Through 2023, the South is forecast to see the fastest sales growth and will account for 47% of all gains due to its large, growing population and building stock.

Lack of Refrigerant Regulations Creating Uncertainty for Industry Participants

Manufacturers of air conditioning equipment and heat pumps are continuing to develop new refrigerants that meet or exceed enforced guidelines for environmental impact. However, the US – which withdrew from the Paris Agreement in 2017 and has not yet ratified the Kigali Amendment – is lagging many other developed nations in the introduction of equipment that utilizes alternative refrigerants. This has prompted certain states in the US – namely California, Maryland, and New York – to propose or enact state regulations concerning refrigerant use.

Such activity at the state level makes it difficult for industry participants to efficiently meet customers’ needs. As a result, many participants are lobbying for a national regulation, as well as the adoption of requirements from the Paris Agreement and Kigali Amendment to stay ahead of a potential change in regulations in the US. If adopted, these regulations will boost the average value of HVAC equipment across the country.

Study Coverage

This Freedonia industry study analyzes the $20.7 billion US HVAC equipment market. It presents historical demand data (2008, 2013, and 2018) and forecasts for 2023 by product (air conditioning equipment, heating equipment, heat pumps, dehumidifiers & humidifiers), market (commercial buildings, residential buildings), and US region (Northeast, Midwest, South, West). The study also evaluates company market and analyzes industry competitors including Daikin Industries, Ingersoll-Rand, Johnson Controls, Lennox, LG Electronics, Nortek, Rheem, SPX, and United Technologies.


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Table of Contents

EXECUTIVE SUMMARY

OVERVIEW

Key Findings

Factors Influencing HVAC Equipment Demand

Considerations Influencing HVAC Equipment Purchases

Energy Costs

Energy Efficiency

Tax Credits

Refrigerant Regulations

Pricing Trends

Historical Demand Trends

HVAC Equipment Supply & Demand

Demand by Product Type

Shipments by Product Type

Trade

Imports by Source

Exports by Destination

Demand by Market

Demand by Region

AIR CONDITIONING EQUIPMENT

Key Findings

Air Conditioning Equipment: Historical Trends

Air Conditioning Equipment: Supply & Demand

Air Conditioning Equipment: Products

Demand by Product

Unitary Air Conditioners

Unitary Air Conditioners: Scope & Product Description

Unitary Air Conditioners: Supply & Demand

Unitary Air Conditioners: Demand by Type (Split vs. Packaged)

Room Air Conditioners

Packaged Terminal Air Conditioners

Packaged Terminal Air Conditioners: Scope & Product Description

Packaged Terminal Air Conditioners: Supply & Demand

Chillers

Absorption Chillers

Air Conditioning Equipment: Markets

Air Conditioning Equipment: Demand by Market & Segment

Air Conditioning Equipment Markets: Commercial Buildings

Commercial Air Conditioning Equipment: Demand by Product

Commercial Air Conditioning Equipment: Demand by Segment (New vs. Existing Buildings)

Commercial Air Conditioning Equipment: Demand by Building Type

Air Conditioning Equipment Markets: Residential Buildings

Residential Air Conditioning Equipment: Demand by Product

Residential Air Conditioning Equipment: Demand by Segment (New vs. Existing Buildings)

Residential Air Conditioning Equipment: Demand by Building Type

Air Conditioning Equipment: Regions

Air Conditioning Equipment: Demand by Region

Air Conditioning Equipment Regional Demand: Northeast

Air Conditioning Equipment Regional Demand: Midwest

Air Conditioning Equipment Regional Demand: South

Air Conditioning Equipment Regional Demand: West

Air Conditioning Equipment: Market Share

HEATING EQUIPMENT

Key Findings

Heating Equipment: Historical Trends

Heating Equipment: Supply & Demand

Heating Equipment: Demand by Energy Source

Heating Equipment: Products

Heating Equipment: Demand by Product

Warm Air Furnaces

Warm Air Furnaces: Supply & Demand

Warm Air Furnaces: Demand by Energy Source

Boilers

Boilers: Supply & Demand

Boilers: Demand by Type (Cast Iron vs. Steel)

Room & Zone Heating Equipment

Room & Zone Heating Equipment: Supply & Demand

Room & Zone Heating Equipment: Demand by Energy Source

Heating Equipment: Markets

Heating Equipment: Demand by Market & Segment

Heating Equipment Markets: Commercial Buildings

Commercial Heating Equipment: Demand by Product

Commercial Heating Equipment: Demand by Segment (New vs. Existing Buildings)

Commercial Heating Equipment: Demand by Building Type

Heating Equipment Markets: Residential Buildings

Residential Heating Equipment: Demand by Product

Residential Heating Equipment: Demand by Segment (Existing vs. New Buildings)

Residential Heating Equipment: Demand by Building Type

Heating Equipment: Regions

Heating Equipment: Demand by Region

Heating Equipment Regional Demand: Northeast

Heating Equipment Regional Demand: Midwest

Heating Equipment Regional Demand: South

Heating Equipment Regional Demand: West

Heating Equipment: Market Share

HEAT PUMPS

Key Findings

Heat Pumps: Historical Trends

Heat Pumps: Supply & Demand

Heat Pumps: Products

Heat Pumps: Demand by Product

Air Source Heat Pumps

Air Source Heat Pumps: Demand by Type (Split vs. Packaged)

Air Source Heat Pumps: Demand by Energy Source

Geothermal Heat Pumps

Scope & Product Description

Demand by Type (Closed vs. Open Loop)

Heat Pumps: Markets

Heat Pumps: Demand by Market

Heat Pump Markets: Commercial Buildings

Commercial Heat Pumps: Demand by Segment (Existing vs. New Buildings)

Commercial Heat Pumps: Demand by Building Type

Heat Pump Markets: Residential Buildings

Residential Heat Pumps: Demand by Segment (Existing vs. New Buildings)

Residential Heat Pumps: Demand by Building Type

Heat Pumps: Regions

Heat Pumps: Demand by Region

Heat Pump Regional Demand: Northeast

Heat Pump Regional Demand: Midwest

Heat Pump Regional Demand: South

Heat Pump Regional Demand: West

Heat Pumps: Market Share

DEHUMIDIFIERS & HUMIDIFIERS

Key Findings

Dehumidifiers & Humidifiers: Historical Trends

Dehumidifiers & Humidifiers: Supply & Demand

Dehumidifiers & Humidifiers: Demand by Product

Dehumidifiers & Humidifiers: Markets

Dehumidifiers & Humidifiers: Demand by Market

Dehumidifiers & Humidifiers: Commercial Buildings

Dehumidifiers & Humidifiers: Residential Buildings

Dehumidifiers & Humidifiers: Demand by Region

Dehumidifiers & Humidifiers: Leading Suppliers

INDUSTRY STRUCTURE

Key Findings & Industry Composition

Market Share

Competitive Strategies

Research & Development

Marketing

Distribution

Cooperative Agreements

Mergers & Acquisitions

List of Industry Participants

APPENDIX

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Climate Zones

Macroeconomic Assumptions

Economic Environment

Demographic Trends

Consumer Spending

Building Construction

Residential Building Construction

Housing Completions

Housing Stock

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs


List of Tables

OVERVIEW

Table 2-1 | Average Retail Energy Costs in the US by Type, 2008 - 2023 (dollars per million Btu)

Table 2-2 | HVAC Equipment Pricing Trends, 2008 - 2023 (dollars per unit)

Table 2-3 | HVAC Equipment Demand by Product Type, 2008 - 2023 (million dollars & thousand units)

Table 2-4 | HVAC Equipment Shipments by Product Type, 2008 - 2023 (million dollars)

Table 2-5 | Foreign Trade in HVAC Equipment, 2008 - 2023 (million dollars)

Table 2-6 | HVAC Equipment Imports by Source, 2008 - 2018 (million dollars)

Table 2-7 | HVAC Equipment Exports by Destination, 2008 - 2018 (million dollars)

Table 2-8 | HVAC Equipment Demand by Market, 2008 - 2023 (million dollars)

Table 2-9 | HVAC Equipment Demand by Region, 2008 - 2023 (million dollars)

AIR CONDITIONING EQUIPMENT

Table 3-1 | Air Conditioning Equipment Supply & Demand, 2008 - 2023 (million dollars)

Table 3-2 | Air Conditioning Equipment Demand by Product, 2008 - 2023 (million dollars & thousand units)

Table 3-3 | Unitary Air Conditioner Supply & Demand, 2008 - 2023 (million dollars)

Table 3-4 | Unitary Air Conditioner Demand by Type, 2008 - 2023 (million dollars & thousand units)

Table 3-5 | Room Air Conditioner Supply & Demand, 2008 - 2023 (million dollars & thousand units)

Table 3-6 | Packaged Terminal Air Conditioner Supply & Demand, 2008 - 2023 (million dollars & thousand units)

Table 3-7 | Chiller Supply & Demand, 2008 - 2023 (million dollars & units)

Table 3-8 | Absorption Chiller Supply & Demand, 2008 - 2023 (million dollars & units)

Table 3-9 | Air Conditioning Equipment Demand by Market & Segment, 2008 - 2023 (million dollars)

Table 3-10 | Commercial Air Conditioning Equipment Demand by Product, 2008 - 2023 (million dollars)

Table 3-11 | Commercial Air Conditioning Equipment Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 3-12 | Commercial Air Conditioning Equipment Demand by Building Type, 2008 - 2023 (million dollars)

Table 3-13 | Residential Air Conditioning Equipment Demand by Product, 2008 - 2023 (million dollars)

Table 3-14 | Residential Air Conditioning Equipment Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 3-15 | Residential Air Conditioning Equipment Demand by Building Type, 2008 - 2023 (million dollars)

Table 3-16 | Air Conditioning Equipment Demand by Region, 2008 - 2023 (million dollars)

Table 3-17 | Northeast: Air Conditioning Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-18 | Midwest: Air Conditioning Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-19 | South: Air Conditioning Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 3-20 | West: Air Conditioning Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

HEATING EQUIPMENT

Table 4-1 | Heating Equipment Supply & Demand, 2008 - 2023 (million dollars)

Table 4-2 | Heating Equipment Demand by Energy Source, 2008 - 2023 (million dollars)

Table 4-3 | Heating Equipment Demand by Product, 2008 - 2023 (million dollars & thousand units)

Table 4-4 | Warm Air Furnace Supply & Demand, 2008 - 2023 (million dollars)

Table 4-5 | Warm Air Furnace Demand by Energy Source, 2008 - 2023 (million dollars & thousand units)

Table 4-6 | Boiler Supply & Demand, 2008 - 2023 (million dollars)

Table 4-7 | Boiler Demand by Type & Energy Source, 2008 - 2023 (million dollars & thousand units)

Table 4-8 | Room & Zone Heating Equipment Supply & Demand, 2008 - 2023 (million dollars)

Table 4-9 | Room & Zone Heating Equipment Demand by Energy Source, 2008 - 2023 (million dollars & thousand units)

Table 4-10 | Selected Commercial & Residential Building Applications for Room & Zone Heating Equipment

Table 4-11 | Heating Equipment Demand by Market & Segment, 2008 - 2023 (million dollars)

Table 4-12 | Commercial Heating Equipment Demand by Product, 2008 - 2023 (million dollars)

Table 4-13 | Commercial Heating Equipment Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 4-14 | Commercial Heating Equipment Demand by Building Type, 2008 - 2023 (million dollars)

Table 4-15 | Residential Heating Equipment Demand by Product, 2008 - 2023 (million dollars)

Table 4-16 | Residential Heating Equipment Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 4-17 | Residential Heating Equipment Demand by Building Type, 2008 - 2023 (million dollars)

Table 4-18 | Heating Equipment Demand by Region, 2008 - 2023 (million dollars)

Table 4-19 | Northeast: Heating Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 4-20 | Midwest: Heating Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 4-21 | South: Heating Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

Table 4-22 | West: Heating Equipment Demand by Product & Market, 2008 - 2023 (million dollars)

HEAT PUMPS

Table 5-1 | Heat Pump Supply & Demand, 2008 - 2023 (million dollars)

Table 5-2 | Heat Pump Demand by Product, 2008 - 2023 (million dollars & thousand units)

Table 5-3 | Air Source Heat Pump Demand by Type, 2008 - 2023 (million dollars & thousand units)

Table 5-4 | Air Source Heat Pump Demand by Energy Source, 2008 - 2023 (million dollars)

Table 5-5 | Geothermal Heat Pump Demand by Type, 2008 - 2023 (million dollars & thousand units)

Table 5-6 | Heat Pump Demand by Market & Segment, 2008 - 2023 (million dollars)

Table 5-7 | Commercial Heat Pump Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 5-8 | Commercial Heat Pump Demand by Building Type, 2008 - 2023 (million dollars)

Table 5-9 | Residential Heat Pump Demand by Segment, 2008 - 2023 (million dollars & thousand units)

Table 5-10 | Residential Heat Pump Demand by Building Type, 2008 - 2023 (million dollars)

Table 5-11 | Heat Pump Demand by Region, 2008 - 2023 (million dollars)

Table 5-12 | Northeast: Heat Pump Demand, 2008 - 2023 (million dollars)

Table 5-13 | Midwest: Heat Pump Demand, 2008 - 2023 (million dollars)

Table 5-14 | South: Heat Pump Demand, 2008 - 2023 (million dollars)

Table 5-15 | West: Heat Pump Demand, 2008 - 2023 (million dollars)

DEHUMIDIFIERS & HUMIDIFIERS

Table 6-1 | Dehumidifier & Humidifier Supply & Demand, 2008 - 2023 (million dollars)

Table 6-2 | Dehumidifier & Humidifier Demand, 2008 - 2023 (million dollars & thousand units)

Table 6-3 | Dehumidifier & Humidifier Demand by Market, 2008 - 2023 (million dollars)

Table 6-4 | Commercial Dehumidifier & Humidifier Demand by Segment & Building Type, 2008 - 2023 (million dollars & thousand units)

Table 6-5 | Residential Dehumidifier & Humidifier Demand by Segment & Building Type, 2008 - 2023 (million dollars & thousand units)

Table 6-6 | Dehumidifier & Humidifier Demand by Region, 2008 - 2023 (million dollars)

INDUSTRY STRUCTURE

Table 7-1 | HVAC Equipment Sales by Company, 2018 (million dollars)

Table 7-2 | Research & Development Spending for Selected HVAC Equipment Companies, 2018 (million dollars)

Table 7-3 | Selected Cooperative Agreements

Table 7-4 | Selected Mergers & Acquisitions

APPENDIX

Table 8-1 | Study Scope: HVAC Equipment Markets

Table 8-2 | Study Scope: US Regions

Table 8-3 | Relevant Industry Codes

Table 8-4 | Relevant HS Codes

Table 8-5 | Acronyms Used in Study

Table 8-6 | US Macroeconomic Indicators, 2008 - 2023 (billion 2012 dollars)

Table 8-7 | US Population & Households, 2008 - 2023 (million persons)

Table 8-8 | US Personal Consumption Expenditures, 2008 - 2023 (billion dollars)

Table 8-9 | Building Construction Expenditures, 2008 - 2023 (billion dollars)

Table 8-10 | Residential Building Construction Expenditures, 2008 - 2023 (billion dollars)

Table 8-11 | New Housing Indicators, 2008 - 2023 (thousand units)

Table 8-12 | Housing Stock by Type, 2008 - 2023 (million units)

Table 8-13 | Residential Improvement & Repair Expenditures, 2008 - 2023 (billion dollars)

Table 8-14 | Commercial Building Construction Expenditures, 2008 - 2023 (billion dollars)

Table 8-15 | Commercial Building Improvement & Repair Expenditures, 2008 - 2023 (billion dollars)


List of Figures

EXECUTIVE SUMMARY

Figure 1-1 | US HVAC Equipment Demand

OVERVIEW

Figure 2-1 | Key Trends in the US HVAC Equipment Market

Figure 2-2 | Average Retail Energy Costs in the US, 2003 - 2018 (dollars per million Btu)

Figure 2-3 | HVAC Equipment Pricing Trends, 2008 - 2023 (% CAGR)

Figure 2-4 | HVAC Equipment Demand, 2005 - 2018 (million dollars)

Figure 2-5 | HVAC Equipment Value Demand, 2006 - 2023 (percent annual change)

Figure 2-6 | HVAC Equipment Shipments Share by Product Type, 2018 (billion dollars)

Figure 2-7 | US Foreign Trade in HVAC Equipment, 2005 - 2018 (million dollars)

Figure 2-8 | HVAC Equipment Imports by Source, 2008 - 2018 (million dollars)

Figure 2-9 | HVAC Equipment Exports by Destination, 2008 - 2018 (million dollars)

Figure 2-10 | US States by Regions & Subregions

AIR CONDITIONING EQUIPMENT

Figure 3-1 | US Air Conditioning Equipment Trends

Figure 3-2 | Air Conditioning Equipment Demand, 2005 - 2018 (million dollars)

Figure 3-3 | US Foreign Trade in Air Conditioning Equipment, 2005 - 2018 (million dollars)

Figure 3-4 | Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars & million units)

Figure 3-5 | Unitary Air Conditioner Value Demand, 2006 - 2018 (percent annual change)

Figure 3-6 | Unitary Air Conditioner Value Demand Share by Type, 2008 - 2023 (million dollars)

Figure 3-7 | Room Air Conditioner Share of Air Conditioning Equipment Demand, 2018 (billion dollars & million units)

Figure 3-8 | Packaged Terminal Air Conditioner Value Demand, 2006 - 2018 (percent annual change)

Figure 3-9 | Chiller Value Demand, 2006 - 2018 (percent annual change)

Figure 3-10 | Absorption Chiller Value Demand, 2006 - 2018 (percent annual change)

Figure 3-11 | Air Conditioning Equipment Demand Value Share by Market, 2008 - 2023 (million dollars)

Figure 3-12 | Commercial Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-13 | Commercial Air Conditioning Equipment Demand, 2005 - 2018 (million dollars)

Figure 3-14 | Commercial Air Conditioning Equipment Demand Share by Building Type, 2018 (billion dollars)

Figure 3-15 | Residential Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-16 | Air Conditioning Equipment Demand in Existing Residential Buildings, 2005 - 2018 (million dollars)

Figure 3-17 | Air Conditioning Equipment Demand in New Residential Buildings, 2005 - 2018 (million dollars)

Figure 3-18 | Residential Air Conditioning Equipment Value Demand Share by Building Type, 2008 - 2023 (million dollars)

Figure 3-19 | Air Conditioning Equipment Value Demand Share by Region, 2008 - 2023 (million dollars)

Figure 3-20 | Northeast: Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-21 | Midwest: Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-22 | South: Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-23 | West: Air Conditioning Equipment Demand Share by Product, 2018 (billion dollars)

Figure 3-24 | Air Conditioning Equipment: Market Share by Company, 2018 (billion dollars)

HEATING EQUIPMENT

Figure 4-1 | US Heating Equipment Trends

Figure 4-2 | Heating Equipment Demand by Product, 2005 - 2018 (million dollars)

Figure 4-3 | US Foreign Trade in Heating Equipment, 2005 - 2018 (million dollars)

Figure 4-4 | Heating Equipment Demand Share by Energy Source, 2018 (billion dollars)

Figure 4-5 | Heating Equipment Demand Share by Product, 2018 (billion dollars & million units)

Figure 4-6 | Warm Air Furnace Value Demand, 2006 - 2018 (percent annual change)

Figure 4-7 | Warm Air Furnace Demand Share by Energy Source, 2018 (billion dollars)

Figure 4-8 | Boiler Value Demand, 2006 - 2018 (percent annual change)

Figure 4-9 | Boiler Value Demand Share by Type, 2008 - 2023 (million dollars)

Figure 4-11 | Heating Equipment Value Demand Share by Market, 2008 - 2023 (million dollars)

Figure 4-12 | Commercial Heating Equipment Demand Share by Product, 2018 (billion dollars)

Figure 4-13 | Heating Equipment Demand in Commercial Buildings, 2005 - 2018 (million dollars)

Figure 4-14 | Commercial Heating Equipment Demand Share by Building Type, 2018 (billion dollars)

Figure 4-15 | Residential Heating Equipment Demand Share by Product, 2018 (billion dollars)

Figure 4-16 | Heating Equipment Demand in Existing Residential Buildings, 2005 - 2018 (million dollars)

Figure 4-17 | Heating Equipment Demand in New Residential Buildings, 2005 - 2018 (million dollars)

Figure 4-18 | Residential Heating Equipment Demand Share by Building Type, 2018 (billion dollars)

Figure 4-19 | Heating Equipment Demand Share by Region, 2018 (billion dollars)

Figure 4-20 | Northeast: Heating Equipment Demand Share by Product, 2018 (million dollars)

Figure 4-21 | Midwest: Heating Equipment Demand Share by Product, 2018 (billion dollars)

Figure 4-22 | South: Heating Equipment Demand Share by Product, 2018 (billion dollars)

Figure 4-23 | West: Heating Equipment Demand Share by Product, 2018 (billion dollars)

Figure 4-24 | Heating Equipment: Market Share by Company, 2018 (billion dollars)

HEAT PUMPS

Figure 5-1 | US Heat Pump Trends

Figure 5-2 | Heat Pump Demand by Product, 2005 - 2018 (million dollars)

Figure 5-3 | US Foreign Trade in Heat Pumps, 2005 - 2018 (million dollars)

Figure 5-4 | Heat Pump Demand Share by Product, 2018 (billion dollars & million units)

Figure 5-5 | Air Source Heat Pump Value Demand Share by Energy Source, 2008 - 2023 (million dollars)

Figure 5-6 | Heat Pump Value Demand Share by Market, 2008 - 2023 (million dollars)

Figure 5-7 | Heat Pump Demand in Commercial Buildings, 2005 - 2018 (million dollars)

Figure 5-8 | Commercial Heat Pump Demand Share by Building Type, 2018 (billion dollars)

Figure 5-9 | Heat Pump Demand in Existing Residential Buildings, 2005 - 2018 (million dollars)

Figure 5-10 | Heat Pump Demand in New Residential Buildings, 2005 - 2018 (million dollars)

Figure 5-11 | Residential Heat Pump Demand Share by Building Type, 2018 (billion dollars)

Figure 5-12 | Heat Pump Demand Share by Region, 2018 (billion dollars)

Figure 5-13 | Share of New Single & Multifamily Building Units with Heat Pumps Installed by Region, 2008 & 2018

Figure 5-14 | Heat Pumps: Market Share by Company, 2018 (billion dollars)

DEHUMIDIFIERS & HUMIDIFIERS

Figure 6-1 | US Dehumidifier & Humidifier Trends

Figure 6-2 | Dehumidifier & Humidifier Demand, 2005 - 2018 (million dollars)

Figure 6-3 | US Foreign Trade in Dehumidifiers & Humidifiers, 2005 - 2018 (million dollars)

Figure 6-4 | Dehumidifier & Humidifier Demand Share, 2018 (million dollars & million units)

Figure 6-5 | Dehumidifier & Humidifier Demand in Existing Commercial Buildings, 2005 - 2018 (million dollars)

Figure 6-6 | Dehumidifier & Humidifier Demand in Existing Residential Buildings, 2005 - 2018 (million dollars)

Figure 6-7 | Dehumidifier & Humidifier Demand in New Residential Buildings, 2005 - 2018 (million dollars)

Figure 6-8 | Dehumidifier & Humidifier Demand Share by Region, 2018 (million dollars)

INDUSTRY STRUCTURE

Figure 7-1 | US HVAC Equipment Market Share by Company, 2018 (billion dollars)

Figure 7-2 | HVAC Equipment: Leading Supplier

Figure 7-3 | HVAC Equipment: Second Leading Supplier

Figure 7-4 | HVAC Equipment: Third Leading Supplier

Figure 7-5 | HVAC Equipment: Fourth Leading Supplier

APPENDIX

Figure 8-1 | Continental US Climate Zones

Figure 8-2 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 8-3 | Annual Population Growth, 2003 - 2018 (percent)

Figure 8-4 | Housing Stock Share by Decade of Construction, 2018 (million units)


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