HVAC Equipment

As Quoted In Trade Arabia

Advances will be the result of robust gains in building construction spending, and by rising demand for increasingly efficient HVAC systems and other products that have greater technological sophistication.

US demand to rise 6.8% annually through 2019

Demand for HVAC equipment in the US is forecast to increase 6.8 percent annually through 2019 to $20.4 billion, recording gains over twice the rate of the 2009-2014 period. In large part, advan-ces will be the result of robust gains in building construction spending, especially growth in improvement and repair expenditures as replacement demand contributes approximately three-quarters of total sales in a given year. Advances will also be propelled by rising demand for increasingly efficient HVAC systems and other products that have greater technological sophistication, as these are typically higher value systems. However, federal tax incentives which were targeted at residential high-efficiency systems expired at the end of 2014. Because a number of homeowners took advantage of those incentives and replaced their HVAC systems ahead of schedule, the pool of units needing to be replaced will be smaller.

Heat pumps, warm air furnaces to grow fastest

Unitary air conditioners will continue to comprise the largest share of total HVAC equipment demand. Advances will benefit from the projected rebound in nonresidential construction spending and the continued improvement in residential construction activity. In addition, the improved economy will enable some homeowners to install central air conditioning systems. However, heat pumps and warm air furnaces will both post faster gains. Demand for heat pumps, which have both heating and cooling capabilities, will be supported by rising sales in markets where efficiency gains are of primary importance, particularly as more high-value geothermal types are installed, often in the nonresidential segment. On the other hand, growth of warm air furnaces will largely be in the residential market.

Electricity is by far the leading fuel source used to power HVAC equipment. Geothermal energy will post the strong-est gains of any fuel source through 2019 from a low 2014 base. This is partly due to efforts of building owners seeking to stabilize their utility costs.

Residential market to outpace nonresidential

The nonresidential market accounts for the larger share of HVAC equipment demand in value terms, due to the larger size of HVAC systems used in these buildings and their consequently higher cost. However, growth in the residential market will significantly outpace that in the nonresidential market. The number of new housing units will increase substantially, providing ample opportunities for new residential HVAC equipment installations. However, in both residential and nonresidential markets, replacement purchases will continue to account for the bulk of sales.

Study coverage

Details on these and other key findings are offered in HVAC Equipment, a Freedonia industry study. It presents historical demand data (2004, 2009 and 2014) and forecasts (2019 and 2024) by fuel type (e.g., electricity, natural gas, geothermal energy, heating oil), product (e.g., unitary air conditioners, heat pumps, warm air furnaces, room air conditioners) and market (e.g., residential, nonresidential). The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 32 industry players, including Daikin Industries, United Technologies, and Ingersoll-Rand.

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  1. HVAC Equipment

    $5,300.00

    1. 1 INTRODUCTION

      $123.00

    2. 2 EXECUTIVE SUMMARY

      $137.00

      1. Table | HVAC EQUIPMENT SUPPLY & DEMAND

    3. 3 MARKET ENVIRONMENT

      $2,336.00

      1. 3.1 General

        $82.00

      2. 3.2 Macroeconomic Environment

        $214.00

        1. Table | MACROECONOMIC INDICATORS

      3. 3.3 Demographic Trends

        $203.00

        1. Table | POPULATION & HOUSEHOLDS

        2. 3.3.1 Population

          $126.00

        3. 3.3.2 Households

          $82.00

      4. 3.4 Consumer Trends

        $278.00

        1. 3.4.1 Personal Income & Expenditures

          $119.00

          1. Table | PERSONAL CONSUMPTION EXPENDITURES

        2. 3.4.2 Consumer Financing

          $138.00

          1. Table | CONSUMER FINANCING ENVIRONMENT, 2004-2014

      5. 3.5 Building Construction

        $747.00

        1. Table | BUILDING CONSTRUCTION EXPENDITURES

        2. 3.5.1 Residential

          $492.00

          1. Table | RESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES

          2. Table | NEW HOUSING INDICATORS

          3. Table | HOUSING STOCK BY TYPE

          4. CHART II-1 YEAR OF CONSTRUCTION OF HOUSING STOCK, 2014

          5. Table | RESIDENTIAL IMPROVEMENT & REPAIR EXPENDITURES

        3. 3.5.2 Nonresidential

          $158.00

          1. Table | NONRESIDENTIAL BUILDING CONSTRUCTION EXPENDITURES

          2. Table | NONRESIDENTIAL BUILDING IMPROVEMENT & REPAIR EXPENDITURES

      6. 3.6 Regulations & Standards

        $322.00

        1. 3.6.1 Refrigerants

          $145.00

        2. 3.6.2 Efficiency

          $105.00

      7. 3.7 Pricing Trends

        $105.00

        1. Table | HVAC EQUIPMENT PRICES

      8. 3.8 World Market

        $198.00

      9. 3.9 Foreign Trade

        $240.00

        1. Table | US FOREIGN TRADE IN HVAC EQUIPMENT

        2. 3.9.1 Exports

          $106.00

          1. CHART II-2 US HVAC EQUIPMENT EXPORTS BY DESTINATION, 2014

        3. 3.9.2 Imports

          $82.00

          1. CHART II-3 US HVAC EQUIPMENT IMPORTS BY SOURCE, 2014

    4. 4 FUEL TYPES

      $723.00

      1. 4.1 General

        $101.00

        1. Table | HVAC EQUIPMENT DEMAND BY FUEL TYPE

        2. CHART III-1 HVAC EQUIPMENT DEMAND BY FUEL TYPE, 2014

      2. 4.2 Electricity

        $164.00

        1. Table | ELECTRIC HVAC EQUIPMENT DEMAND

      3. 4.3 Natural Gas

        $105.00

        1. Table | NATURAL GAS-BURNING HVAC EQUIPMENT DEMAND

      4. 4.4 Geothermal Energy

        $154.00

        1. Table | GEOTHERMAL ENERGY HVAC EQUIPMENT DEMAND

      5. 4.5 Heating Oil

        $131.00

        1. Table | HEATING OIL-BURNING HVAC EQUIPMENT DEMAND

      6. 4.6 Others

        $82.00

        1. Table | OTHER ENERGY-POWERED HVAC EQUIPMENT DEMAND

    5. 5 PRODUCTS

      $3,579.00

      1. 5.1 General

        $82.00

      2. 5.2 Demand by Type

        $111.00

        1. Table | HVAC EQUIPMENT DEMAND BY TYPE

        2. CHART IV-1 HVAC EQUIPMENT DEMAND BY TYPE, 2014

      3. 5.3 Shipments by Type

        $87.00

        1. Table | HVAC EQUIPMENT SHIPMENTS BY TYPE

      4. 5.4 Unitary Air Conditioners

        $403.00

        1. 5.4.1 Supply & Demand

          $105.00

          1. Table | UNITARY AIR CONDITIONER SUPPLY & DEMAND

        2. 5.4.2 Characteristics

          $163.00

        3. 5.4.3 Types

          $117.00

          1. CHART IV-2 UNITARY AIR CONDITIONER DEMAND BY TYPE, 2004-2014

      5. 5.5 Heat Pumps

        $733.00

        1. 5.5.1 Supply & Demand

          $128.00

          1. Table | HEAT PUMP SUPPLY & DEMAND

        2. 5.5.2 Types

          $567.00

          1. Table | HEAT PUMP DEMAND BY TYPE

          2. Table | AIR SOURCE HEAT PUMP DEMAND

          3. Table | GEOTHERMAL HEAT PUMP DEMAND

      6. 5.6 Warm Air Furnaces

        $564.00

        1. 5.6.1 Supply & Demand

          $164.00

          1. Table | WARM AIR FURNACE SUPPLY & DEMAND

        2. 5.6.2 Types

          $382.00

          1. Table | WARM AIR FURNACE DEMAND BY TYPE

          2. Table | NATURAL GAS-BURNING WARM AIR FURNACE DEMAND

          3. Table | ELECTRIC POWERED WARM AIR FURNACE DEMAND

          4. Table | HEATING OIL-BURNING WARM AIR FURNACE DEMAND

      7. 5.7 Room Air Conditioners

        $372.00

        1. 5.7.1 Supply & Demand

          $146.00

          1. Table | ROOM AIR CONDITIONER SUPPLY & DEMAND

        2. 5.7.2 Characteristics

          $160.00

        3. 5.7.3 Types

          $82.00

      8. 5.8 Other HVAC Equipment

        $1,266.00

        1. Table | OTHER HVAC EQUIPMENT SUPPLY & DEMAND

        2. 5.8.1 Room & Zone Heating Equipment

          $142.00

          1. Table | ROOM & ZONE HEATING EQUIPMENT SUPPLY & DEMAND

        3. 5.8.2 Humidifiers

          $190.00

          1. Table | HUMIDIFIER SUPPLY & DEMAND

        4. 5.8.3 Dehumidifiers

          $184.00

          1. Table | DEHUMIDIFIER SUPPLY & DEMAND

        5. 5.8.4 Boilers

          $263.00

          1. Table | BOILER SUPPLY & DEMAND

          2. Table | BOILER DEMAND BY TYPE

        6. 5.8.5 Packaged Terminal Air Conditioners

          $144.00

          1. Table | PACKAGED TERMINAL AIR CONDITIONER SUPPLY & DEMAND

        7. 5.8.6 Absorption Liquid Chilling Systems

          $141.00

          1. Table | ABSORPTION LIQUID CHILLING SYSTEM SUPPLY & DEMAND

        8. 5.8.7 Chillers

          $161.00

          1. Table | CHILLER SUPPLY & DEMAND

    6. 6 MARKETS

      $875.00

      1. 6.1 General

        $107.00

        1. Table | HVAC EQUIPMENT DEMAND BY MARKET

        2. CHART V-1 HVAC EQUIPMENT DEMAND BY MARKET, 2004-2024

      2. 6.2 Residential

        $429.00

        1. Table | RESIDENTIAL HVAC EQUIPMENT DEMAND BY SEGMENT

        2. CHART V-2 RESIDENTIAL HVAC EQUIPMENT DEMAND BY SEGMENT, 2004-2024

        3. 6.2.1 New Building

          $119.00

          1. Table | NEW RESIDENTIAL HVAC EQUIPMENT BY BUILDING TYPE

          2. CHART V-3 NEW RESIDENTIAL HVAC EQUIPMENT DEMAND BY BUILDING TYPE, 2014

        4. 6.2.2 Replacement

          $199.00

          1. Table | REPLACEMENT RESIDENTIAL HVAC EQUIPMENT DEMAND

      3. 6.3 Nonresidential

        $339.00

        1. Table | NONRESIDENTIAL HVAC EQUIPMENT DEMAND BY SEGMENT

        2. CHART V-4 NONRESIDENTIAL HVAC EQUIPMENT DEMAND BY SEGMENT, 2004-2024

        3. 6.3.1 New Building

          $97.00

          1. Table | NEW BUILDING NONRESIDENTIAL HVAC EQUIPMENT DEMAND

        4. 6.3.2 Replacement

          $87.00

          1. Table | REPLACEMENT NONRESIDENTIAL HVAC EQUIPMENT DEMAND

    7. 7 INDUSTRY STRUCTURE

      $5,333.00

      1. 7.1 General

        $82.00

      2. 7.2 Industry Composition

        $129.00

        1. Table | US HVAC EQUIPMENT SALES BY COMPANY, 2014

      3. 7.3 Market Share

        $145.00

        1. CHART VI-1 US HVAC EQUIPMENT MARKET SHARE, 2014

      4. 7.4 Competitive Strategies

        $108.00

      5. 7.5 Research & Development

        $94.00

      6. 7.6 Distribution

        $115.00

      7. 7.7 Marketing

        $140.00

      8. 7.8 Mergers & Acquisitions

        $100.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      9. 7.9 Cooperative Agreements

        $91.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      10. 7.10 Company Profiles

        $5,333.00

        1. 7.10.1 AAON Incorporated

          $188.00

        2. 7.10.2 ABB Limited

          $82.00

        3. 7.10.3 Bradford White Corporation

          $179.00

        4. 7.10.4 Burnham Holdings Incorporated

          $386.00

        5. 7.10.5 Daikin Industries Limited

          $311.00

        6. 7.10.6 Danfoss A/S

          $153.00

        7. 7.10.7 Dectron Internationale Incorporated

          $161.00

        8. 7.10.8 Dunham-Bush Holding Berhad

          $104.00

        9. 7.10.9 ECR International Incorporated

          $240.00

        10. 7.10.10 Elco Limited

          $82.00

        11. 7.10.11 Electrolux AB

          $134.00

        12. 7.10.12 Emerson Electric Company

          $123.00

        13. 7.10.13 Friedrich Air Conditioning Company

          $129.00

        14. 7.10.14 Haier Group Company

          $117.00

        15. 7.10.15 Ingersoll-Rand plc

          $240.00

        16. 7.10.16 Johnson Controls Incorporated

          $272.00

        17. 7.10.17 Lennox International Incorporated

          $415.00

        18. 7.10.18 LG Electronics Incorporated

          $114.00

        19. 7.10.19 LSB Industries Incorporated

          $185.00

        20. 7.10.20 Mestek Incorporated

          $323.00

        21. 7.10.21 Midea Group Company Limited

          $82.00

        22. 7.10.22 Modine Manufacturing Company

          $205.00

        23. 7.10.23 Motors and Armatures Incorporated

          $153.00

        24. 7.10.24 Nortek Incorporated

          $548.00

        25. 7.10.25 Paloma Company Limited

          $160.00

        26. 7.10.26 Panasonic Corporation

          $82.00

        27. 7.10.27 PB Heat LLC

          $87.00

        28. 7.10.28 Research Products Corporation

          $90.00

        29. 7.10.29 Sharp Corporation

          $82.00

        30. 7.10.30 Tecumseh Products Company

          $85.00

        31. 7.10.31 United Technologies Corporation

          $432.00

        32. 7.10.32 Whirlpool Corporation

          $82.00

      11. 7.11 Additional Companies in US HVAC Equipment

        $168.00

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