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Demand for HVAC equipment forecasted to increase 6.8% through 2019

LONDON, April 8, 2015 /PRNewswire/ — Demand for HVAC equipment is forecast to increase 6.8 percent annually through 2019 to$20.4 billion, recording gains at about twice the rate of the 2009-2014 period.

In large part, advances will be the result of robust gains in building construction spending, especially growth in improvement and repair expenditures. Advances will also be propelled by rising demand for increasingly efficient HVAC systems and other types that have a higher degree of technological sophistication, as these are typically higher value systems. However, federal tax incentives targeted at high-efficiency systems installed in the residential market 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 which needs replacement will be smaller, reducing sales in the short term. Shipments of HVAC equipment will grow 6.0 percent per year through 2019 to $16.5 billion. Imports will account for a growing share of demand for all HVAC products, exceeding 25 percent of the total in 2019..

Regulations to continue driving replacement demand

Regulations regarding refrigerant usage and equipment efficiency will continue to have a positive effect on HVAC equipment demand. For instance, the phase-out of R-22, which will be complete by 2020, will spur many HVAC equipment owners to replace their existing units before then. Upgrading current equipment to utilize alternative refrigerants is difficult or impossible and any remaining R-22 will become prohibitively expensive as virgin stocks are depleted. Additionally, incremental increases in minimum efficiency standards will continue to drive sales toward high-efficiency models which generally command a pricing premium.

Heat pumps & warm air furnaces to grow the fastest

Unitary air conditioners will continue to comprise the largest share of total HVAC system demand, accounting for 44 percent of sales by 2019. Advances will benefit from the projected rebound in nonresidential construction spending and the continued improvement in residential construction activity. Heat pumps and warm air furnaces will both post the fastest gains through 2019. Demand for heat pumps, which have heating and cooling capabilities, will be supported by rising sales in the nonresidential market where efficiency gains are of primary importance, particularly as more of the high-value geothermal types are installed. On the other hand, growth of warm air furnaces will largely be in the residential market, where they benefit from low initial costs.

Growth in residential market to outpace nonresidential

The nonresidential market will continue to comprise the larger share of overall HVAC equipment demand in value terms, due to the larger size of HVAC systems used in these buildings and their subsequently higher cost. However, growth in the residential market will significantly outpace that in the nonresidential market through 2019. The number of new housing units will improve substantially through 2019, providing ample opportunities for new residential HVAC equipment installations.

Study coverage

Details on these and other key findings are offered in HVAC Equipment, an upcoming industry study. It presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by fuel type, equipment type and market. The study also considers market environment factors, examines the industry structure, evaluates company market share and profiles 32 US industry competitors, including Daikin, IngersollRand, Lennox and United Technologies.
Download the full report: https://www.reportbuyer.com/product/2831969/

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: query@reportbuyer.com
Tel: +44 208 816 85 48
Website: www.reportbuyer.com

SOURCE: ReportBuyer

FILED UNDER: Press Release
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Tune up your Air Conditioner

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Are you planning to tune up your Air Conditioner this spring?

Spring has arrived – technically – and many homeowners are working on their spring cleaning lists. Homeowners should not forget to include an air conditioner tune-up on the spring cleaning list. Before you know it, the hot weather will arrive and that air conditioner will be put to use in cooling and dehumidifying the home’s air. There are many important reasons and benefits to including a tune-up for the air conditioning system on the year’s spring cleaning list.

What a Tune Up Service Includes

A tune up service for the air conditioning system works like a tuning up service for the family car. It includes:

  • A comprehensive system inspection
  • Cleaning of all coils
  • Lubrication of the moving mechanical parts
  • Air filter replacement
  • Checking of fluid and pressure levels
  • Cleaning and draining of the condensate line
  • Checking of system wiring and thermostat controls
  • Running a system performance test

Most tune up services will also include an inspection of the ductwork to ensure that the conditioned air will reach all areas of the home.

Reasons to Have the Air Conditioning System Tuned Up

A tune up service for the air conditioning system ensures that it will operate efficiently, effectively and safely. A dirty or poorly lubricated motor could overheat, resulting in a system breakdown and costly repair bill. A low coolant level could result in ineffective cooling and dehumidification of the home. A proper tune up service checks for these issues as well as any other potential problems and could prevent them from occurring.

Benefits of Having the Air Conditioning System Professionally Maintained

There are many benefits to professional maintenance of the air conditioning system. These include:

  • Improved energy efficiency. After the system is tuned up, cooling costs could decrease by 5 to 30 percent.
  • Healthier indoor air once the air filter is replaced.
  • Removal of dust from the system results in cleaner indoor air.
  • Lubricating the system reduces noise during each cooling cycle.
  • A well maintained system experiences fewer breakdowns and could last longer.

To be sure that your home is ready for the upcoming heat and humidity of the summer months, a springtime tune up of the air conditioning system is essential.

As the number-one heating and air conditioning company in the tri-state area, Cumberland Valley Heating & Air Conditioning offers this service and many more to ensure your comfort throughout the entire year.

For more information on scheduling a preventive maintenance service visit for your cooling system, give us a call TODAY at (301) 739-3830 .

Cumberland Valley Heating & Air Conditioning services Chambersburg, Greencastle and Waynesboro, Pennsylvania. It serves the Greater Hagerstown, Maryland region and the Greater Martinsburg, West Virginia area as well.

Cumberland Valley Heating & Air Conditioning provides Comfort you can Trust!


And the winners are….

Congratulations to Mary and Jeff B. of Knoxville, Maryland!

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Mary and Jeff won a $25.00 gift from the 30th annual Home Builders Association of Washington County Home Show that was held last weekend at Hagerstown Community College.

Cumberland Valley Heating & Air Conditioning serves the Hagerstown, Maryland area and is the number-one heating, air conditioning dealership in the tri-state area!

 


Cumberland Valley Heating & Air Conditioning to participate in Alpha Media Home Show in Chambersburg

Cumberland Valley Heating & Air Conditioning to Participate in Alpha Media Home Show on March 28 by Ryan Miner