HARDI Partners on J.P. Morgan HVAC Distributor Survey

The Heating, Airconditioning and Refrigeration Distributors International (HARDI) has partnered with J.P. Morgan Equity Research in their latest proprietary HVACR distributor survey released in July, which collected market projections for this cooling season. This is the first time that the firm's research department has worked with HARDI to survey its U.S. HVACR equipment distributors.

Ninety-three HVACR equipment distributor HARDI-member companies contributed to this report intended to overview and forecast the HVACR equipment market for the summer of 2009. J.P. Morgan states that results were largely in line with their expectations, though there were interesting comments surrounding price, inventories and stimulus. They continue to see a difficult 2009, with a recovery in 2010 for residential driven by pent-up replacement demand.

Additional key points from the 45-page report were highlighted including:

  • Residential end markets weak, with cooler weather and a soft start to the summer selling season.

  • Increased repair rates appear to continue near-term, but these systems likely to be replaced in coming years, key to J.P. Morgan's view of sustainable long-term recovery.

  • Commercial likely down, worse than residential in 2010.

Although the report is for J.P. Morgan clients only, HARDI has made the initial report available to all member companies. (Members can contact the association to receive a copy.) The next HARDI-J.P. Morgan collaboration will be a post-season survey and report later this year.

Visit www.hardinet.org for additional information.

TAGS: Archive
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.