Heating & Air Conditioning Equipment Manufacturing in the US
Over the five years to 2018, US residential and nonresidential construction steadily expanded due to strong underlying drivers, including increasing employment and historically low interest rates. These trends bolstered Heating and Air-Conditioning Equipment Manufacturing industry sales, as HVACR equipment is typically installed in new buildings to regulate climate and provide ventilation. In addition, government regulations, tax incentives and realized savings from replacing old HVACR systems with new energy-efficient equipment led to increasing demand for HVACR replacements during the period. Moving forward, industry revenue is expected to modestly increase over the five years to 2023. Much of this growth will be driven by a persistent increase in US construction activity, which will boost demand for HVACR installations, upgrades and retrofits. Continued strength in consumer spending will also drive demand for industry products, especially among downstream industries.
Companies in this industry manufacture residential, commercial and industrial heating, ventilation, air-conditioning and refrigeration (HVACR) equipment. Industry revenue includes miscellaneous receipts for the resale of products without further manufacturing, contract work done for others on respective items and acknowledgements for repair, scrap and refuse sales. Automotive units are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.