During the recession, as residential construction collapsed and consumer income weakened, demand for HVACR systems decreased. However, since 2010, the industry experienced several years of revenue growth, offsetting steep revenue declines in 2009. Consequently, over the five years to 2019, demand for the industry's heating, ventilation, air-conditioning and refrigeration (HVACR) products is expected to increase, driven by strong residential and nonresidential construction growth. In addition, concerns about climate change and energy consumption will stimulate demand for newer, environmentally friendly systems to replace less efficient ones.
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.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.