A recent survey by the American Society of Heating, Refrigeration and Air-conditioning Engineers (ASHRAE) Journal publication and the AHR Expo, reveals growing optimism among HVACR manufacturers heading into 2015.
The survey found 87% of respondents said their prospects for business were "excellent"(26%) or "good" (61%). Thirteen percent said prospects look to be "fair" for 2015.
The results represents a whopping improvement over last year, 98% in the positive category.
It also represents a 17% increase in optimism over the 2014 survey, when 70% of the respondents thought 2013 would be better than 2012.
- 96% of the HVACR manufacturers surveyed believe sales will continue to increase.
- 47% expect sales increases of between 5% and 10%.
- 29% forecast sales increases of more than 10%
- 20% expect increases of less than 5%.
- 3% said they expect sales to be unchanged over 2014
Most Promising Segments
Survey respondents said they expected to see the most "excellent" and "good" growth in the "Hospital/Healthcare" segment of the HVACR industry. Next were "Light Commercial," "Heavy Commercial," "Data/Telecom Center," "Manufacturing/Industrial," and "Office Buildings."
Positive outlook in heavy commercial, light commercial and data/telecom showed the biggest increases over last year's survey, with double digit increases.
Best Prospects for Business in New Construction
Regarding the industry categories where HVACR manufaturers see the best prospects for business, "New Construction" was mentioned by 40% of respondents, and climbed to number one, gaining 11 percentage points from the 2014 forecast.
"Maintenance/Replacement" was second at 32%. Retrofit/Renovation: 32%.