A study released by Cleveland-based industrial market research firm The Freedonia Group, Inc. reports that demand for HVAC equipment in the US is forecast to increase 3.2% per year – reaching $14.3 billion in 2009.
According to the study, advances will be driven primarily by a projected recovery in nonresidential construction, along with ongoing strength in residential remodeling. Growth in the replacement sector will benefit from the rising interest in replacing older HVAC equipment with newer, more energy efficient building systems.
The study also reports that shipments of unitary air conditioners amounted to $5.5 billion in 2004, representing 79% of all cooling equipment shipments.
To obtain the study, contact Corinne Gangloff at The Freedonia Group, at 440/684-9600, or visit www.freedoniagroup.com.