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HVAC Equipment
US industry forecasts for 2013 & 2018

  • Publication Date:October 2009
  • Publisher:Freedonia Group
  • Product Type: Report
  • Pages:218

HVAC Equipment US industry forecasts for 2013 & 2018

US demand to increase

4.5% annually through 2013 Demand in the US for heating, ventilation and air conditioning (HVAC) equipment is forecast to increase 4.5 percent per year to $17 billion in 2013. Advances will be driven by a recovery in residential construction spending from a low 2008 base. Demand will also benefit from interest in more energy efficient HVAC systems, caused by volatile energy prices.

Public and private rebates, credits and other incentives will also encourage owners to upgrade to models with efficiency ratings that are at or above ENERGY STAR levels. Ongoing changes in federal regulations regarding minimum efficiency requirements for many of these systems and the phase-out of ozonedepleting refrigerants will also favorably affect sales of HVAC equipment. HVAC shipments are forecast to advance somewhat slower than demand at 4.0 percent per year to $15.2 billion in 2013, as import growth from Asia and Mexico continues, particularly for more basic systems, and domestic production continues to shift outside the US.

Small geothermal category to be fastest growing

The choice among various fuels used in HVAC systems is largely affected by the convenience, environmental friendliness, availability and price of the fuels, and the initial costs, operational costs and efficiency of the systems that use the fuels. In 2008, electric powered HVAC systems accounted for 83 percent of US sales value and natural gas-burning systems accounted for 14 percent of sales. Systems operating on geothermal energy will post the strongest gains, albeit from a very small base, driven by the tax credits available for such systems installed between 2009 and 2016.

Heat pumps to remain dominant heating equipment

In 2008, heat pumps accounted for the largest share of heating equipment value demand and will account for 52 percent in 2013. Additionally, heat pumps are expected to post the strongest gains through 2013. Heat pump demand benefits from the ability of these units to provide efficient heating and cooling in moderate climates, as well as the increasing availability of more efficient innovations in low temperature and geothermal versions. While warm air furnaces will continue to account for the second largest share of heating equipment sales through 2013, this segment is expected to lose market share over the period. Sales of warm air furnaces will be supported by their relatively low initial cost, availability using most fuel types and amenability to installation with other central home comfort systems.

Room air conditioners to pace cooling equipment

Unitary air conditioners will remain the largest segment in the cooling equipment industry, accounting for 71 percent of total value demand in 2013. Gains are expected to be slightly above average over this period. Room air conditioners are expected to post the strongest gains through 2013 as quieter and more efficient units become available and residential construction recovers from depressed 2008 levels. Most other types of cooling equipment will be hampered by their widespread use in nonresidential applications, a market which is due to slow from a high 2008 base. The cooling equipment industry is affected by a variety of regulations, including those on ozone-depleting refrigerants. As a result, the chlorine-free refrigerant HFC-410A is being phased in across a variety of price points by most manufacturers.

Study coverage

HVAC Equipment is a new Freedonia industry study priced at $4800. It presents historic demand data (1998, 2003, 2008) plus forecasts for 2013 and 2018 by fuel type, product and market. The study also considers market environment factors, assesses the industry structure, evaluates company market share and profiles 36 US industry players.

  • Introduction
  • I. Executive Summary
  • II. Market Environment
    • General
    • Macroeconomic Environment
    • Demographic Trends
    • Population
    • Households
    • Consumer Trends
    • Personal Income & Expenditures
    • Consumer Financing
    • Building Construction
    • Residential
    • New Housing
    • Housing Stock
    • Improvements & Repairs
    • Nonresidential
    • Office & Commercial Construction
    • Institutional Construction
    • Industrial Construction
    • Transportation & Other Building Construction
    • Improvements & Repairs
    • Regulations & Standards
    • Refrigerants
    • Efficiency
    • Pricing Trends
    • World Market
    • Foreign Trade
    • Exports
    • Imports
  • III. Heating & Cooling Fuel Types
    • General
    • Electricity
    • Natural Gas
    • Heating Oil
    • Geothermal Energy
    • Others
  • IV. Heating Equipment
    • General
    • Supply & Demand
    • Shipments by Type
    • Heat Pumps
    • Supply & Demand
    • Types
    • Air Source
    • Geothermal
    • Warm Air Furnaces
    • Supply & Demand
    • Types
    • Natural Gas
    • Electric
    • Heating Oil
    • Boilers
    • Supply & Demand
    • Types
    • Cast Iron Boilers
    • Steel Boilers
    • Humidifiers
    • Supply & Demand
    • Characteristics
    • Manufacturers
    • Room & Zone Heating Equipment
    • Supply & Demand
    • Types
    • Manufacturers
  • V. Cooling Equipment
    • General
    • Supply & Demand
    • Shipments by Type
    • Unitary Air Conditioners
    • Supply & Demand
    • Characteristics
    • Types
    • Manufacturers
    • Room Air Conditioners
    • Supply & Demand
    • Characteristics
    • Types
    • Manufacturers
    • Chillers
    • Supply & Demand
    • Characteristics
    • Absorption Liquid Chilling Systems
    • Supply & Demand
    • Characteristics
    • Dehumidifiers
    • Supply & Demand
    • Characteristics
    • Manufacturers
    • Packaged Terminal Air Conditioners
  • VI. Markets
    • General
    • Residential
    • New Building
    • Heating Equipment
    • Cooling Equipment
    • Improvement & Replacement
    • Heating Equipment
    • Cooling Equipment
    • Nonresidential
    • New Building
    • Improvement & Replacement
  • VII. Industry Structure
    • General
    • Industry Composition
    • Market Share
    • United Technologies
    • Ingersoll-Rand
    • Lennox International
    • Goodman Global Holdings
    • Other Leaders
    • Competitive Strategies
    • Research & Development
    • Distribution
    • Marketing
    • Mergers & Acquisitions
    • Cooperative Agreements
    • Company Profiles
    • Aaon Incorporated
    • Adams Manufacturing Company
    • Airwell-Fedders North America Incorporated, See Elco
    • Holdings Limited
    • Allied Air Enterprises Incorporated, See Lennox
    • International Incorporated
    • Berjaya Corporation Berhad
    • Bradford White Corporation
    • Broan-Nutone Llc, See Nortek Incorporated
    • Bryan Steam Llc, See Burnham Holdings Incorporated
    • Burnham Holdings Incorporated
    • Carrier Corporation, See United Technologies Corporation
    • Climate Energy Llc, See Ecr International Incorporated
    • Control Techniques, See Emerson Electric Company
    • Crown Boiler Company, See Burnham Holdings Incorporated
    • Daikin Industries Limited
    • Danfoss A/S
    • Dectron Internationale Incorporated
    • Dunham-Bush Holding Berhad
    • Dunkirk, See Ecr International Incorporated
    • Ecr International Incorporated
    • Elco Holdings Limited
    • Electrolux Ab
    • Emerson Electric Company
    • Enviromaster International Llc, See Ecr International
    • Incorporated
    • Fedders North America Incorporated, See Elco Holdings
    • Limited
    • Friedrich Air Conditioning Company
    • Fusite, See Emerson Electric Company
    • Goodman Global Holdings Lp
    • Governale Company Incorporated, See Burnham Holdings
    • Incorporated
    • Haier Group Company
    • Hallowell International Llc
    • Hartford Compressors Incorporated, See Dunham-Bush
    • Holding Berhad
    • Heat Controller Incorporated
    • Ingersoll-Rand Company Limited
    • Johnson Controls Incorporated
    • Lennox International Incorporated
    • Lg Electronics Incorporated
    • Mammoth-Webco Incorporated, See Nortek Incorporated
    • Mcquay International Incorporated, See Daikin Industries
    • Limited
    • Mestek Incorporated
    • Modine Manufacturing Company
    • New Yorker Boiler Company Incorporated, See Burnham
    • Holdings Incorporated
    • Nordyne Incorporated, See Nortek Incorporated
    • Nortek Incorporated
    • Olsen/Airco Heating & Cooling Products, See Ecr
    • International Incorporated
    • Oneida Royal, See Ecr International Incorporated
    • Paloma Industries Limited
    • Panasonic Corporation
    • Pb Heat Llc
    • Raypak Incorporated, See Paloma Industries Limited
    • Research Products Corporation
    • Rheem Manufacturing Company, See Paloma Industries
    • Limited
    • Ruud Air Conditioning, See Paloma Industries Limited
    • Samsung Electronics Company Limited
    • Sanyo Electric Company Limited
    • Sharp Corporation
    • Tecumseh Products Company
    • Therm-O-Disc Incorporated, See Emerson Electric Company
    • Thermal Solutions Products Llc, See Burnham Holdings
    • Incorporated
    • Thermo Products Llc, See Burnham Holdings Incorporated
    • Thomas & Betts Corporation
    • Trane Incorporated, See Ingersoll-Rand Company Limited
    • United Technologies Corporation
    • Whirlpool Corporation
    • White-Rodgers, See Emerson Electric Company
    • York International Corporation, See Johnson Controls
    • Incorporated
    • Other Companies Mentioned in The Study
  • LIST OF TABLES
    • Section I -- Executive Summary
    • Summary Table
    • Section Ii -- Market Environment
    • 1 Macroeconomic Indicators
    • 2 Population & Households
    • 3 Personal Consumption Expenditures
    • 4 Consumer Financing Environment, 1998-2008
    • 5 Building Construction Expenditures
    • 6 Residential Building Construction Expenditures
    • 7 New Housing Indicators
    • 8 Housing Stock by Type
    • 9 Residential Improvement & Repair Expenditures
    • 10 Nonresidential Building Construction Expenditures
    • 11 Nonresidential Building Improvement & Repair Expenditures
    • 12 Hvac Equipment Prices
    • 13 US Foreign Trade in Hvac Equipment
    • Section Iii -- Heating & Cooling Fuel Types
    • 1 Hvac Equipment Demand by Fuel Type
    • 2 Electric Hvac Equipment Demand
    • 3 Natural Gas-Burning Hvac Equipment Demand
    • 4 Heating Oil-Burning Hvac Equipment Demand
    • 5 Geothermal Energy Hvac Equipment Demand
    • 6 Other-Energy Powered Hvac Equipment Demand
    • Section Iv -- Heating Equipment
    • 1 Heating Equipment Supply & Demand
    • 2 Heating Equipment Shipments by Type
    • 3 Heat Pump Supply & Demand
    • 4 Heat Pump Shipments by Type
    • 5 Air Source Heat Pump Shipments
    • 6 Geothermal Heat Pump Shipments
    • 7 Warm Air Furnace Supply & Demand
    • 8 Warm Air Furnace Shipments by Type
    • 9 Natural Gas-Burning Warm Air Furnace Shipments
    • 10 Electric-Powered Warm Air Furnace Shipments
    • 11 Heating Oil-Burning Warm Air Furnace Shipments
    • 12 Boiler Supply & Demand
    • 13 Boiler Shipments by Type
    • 14 Cast Iron Boiler Shipments by Fuel Type
    • 15 Steel Boiler Shipments by Fuel Type
    • 16 Humidifier Supply & Demand
    • 17 Room & Zone Heating Equipment Supply & Demand
    • Section V -- Cooling Equipment
    • 1 Cooling Equipment Supply & Demand
    • 2 Cooling Equipment Shipments by Type
    • 3 Unitary Air Conditioner Supply & Demand
    • 4 Room Air Conditioner Supply & Demand
    • 5 Chiller Supply & Demand
    • 6 Absorption Liquid Chilling System Supply & Demand
    • 7 Dehumidifier Supply & Demand
    • 8 Packaged Terminal Air Conditioner Supply & Demand
    • Section Vi -- Markets
    • 1 Hvac Equipment Demand by Segment & Market
    • 2 Residential Hvac Equipment Demand by Market & Type
    • 3 New Residential Hvac Equipment Demand by Type & Building
    • 4 Improvement & Replacement Residential Hvac Equipment Demand by Type
    • 5 Nonresidential Hvac Equipment Demand by Market & Type
    • 6 New Building Nonresidential Hvac Equipment Demand by Type
    • 7 Improvement & Replacement Nonresidential Hvac Equipment Demand by Type
    • Section Vii -- Industry Structure
    • 1 Hvac Equipment Sales by Company, 2008
    • 2 Selected Acquisitions & Divestitures
    • 3 Selected Cooperative Agreements
  • LIST OF CHARTS
    • Section Ii -- Market Environment
    • 1 Year of Construction of Housing Stock, 2008
    • 2 US-Exported Hvac Equipment by Destination, 2008
    • 3 US Hvac Equipment Exports by Destination, 1998-2008
    • 4 US-Imported Hvac Equipment by Source, 2008
    • 5 US Hvac Equipment Imports by Source, 1998-2008
    • Section Iii -- Heating & Cooling Fuel Types
    • 1 Hvac Equipment Demand by Fuel Type, 2008
    • Section Iv -- Heating Equipment
    • 1 Heating Equipment Shipments by Type in Value & Unit Terms, 2008
    • Section V -- Cooling Equipment
    • 1 Cooling Equipment Shipments by Type in Value & Unit Terms, 2008
    • Section Vi -- Markets
    • 1 Hvac Equipment Demand by Market, 1998-2018
    • 2 Residential Hvac Equipment Demand by Market, 1998-2018
    • 3 New Residential Hvac Equipment Demand by Building Type, 2008
    • 4 Heating Equipment Installed in New Single Unit Housing by Type, 2008
    • 5 Share of New Housing Units with A Central Cooling System, 1998-2008
    • 6 Nonresidential Hvac Equipment Demand by Market, 1998-2018
    • Section Vii -- Industry Structure
    • 1 US Hvac Equipment Market Share, 2008
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