US HVAC Market Enjoys 10 Year High

The HVAC market around the world has been on the rise, especially in the US where ReportsnReports cites 2015 as a 10-year market high for the industry. Above average growth doesn’t do these numbers justice, and market researchers say the US HVAC industry is the healthiest it’s been in years. The full report is available online, including dozens of analysis charts. Overall, the US residential HVAC market is promising lower gas, more consumer satisfaction, and a stable job market for qualified HVAC technicians.

Homeowners are installing greener furnaces and A/C units in new homes, and flipping houses or renovating them has become more common. The housing market is swiftly getting back on track, with home prices increasing in many regions. One of the best ways to improve the value of a home is with an energy efficient HVAC system. You may even score a tax break or incentive, some of which are state- or city-specific, so be sure to check with your CPA before making that final purchase.

A Healthy Market

Overall, consumers report a better selection and more competitive pricing, while experts point out lower raw material costs, and all of these factors contribute to the boost in this market. Analysts say that the current pace should be sustainable, and when it comes to competitive risks around currency, that doesn’t impact the HVAC market. Relatively speaking, weather conditions in many parts of the country have been mild (save for the drought in California). Moderate temperatures lead to smarter HVAC purchases with fewer people rushing out to buy an air conditioner—any air conditioner!—which causes a steadier HVAC market.

It’s estimated that next year, the US HVAC market will enjoy a five percent growth, and ductless will stay at the top of the heap as “most popular.” In fact, it might make up 15 percent of the entire industry including residential and commercial alike. The majority of manufacturers are offering low- and mid-level price increases for the coming year, with the report HVAC Equipment to 2019 expecting the US demand for HVAC to go up 6.8 percent through 2019 to reach an astonishing $20.4 billion total industry.

Cooling Things Down

Considering all aspects of HVAC (heating, ventilation, air conditioning), it’s expected that the air conditioning component will continue to be the most in-demand. Luckily, this is the perfect time of year to replace or service your A/C. Heading into the winter months, you want to make sure your entire system is in great working order. It’s also the last two months to make a savvy tax purchase, so check with your CPA and see if any makes/models will get you a bonus.

Can’t decide if you should repair or replace your HVAC, or a part of it? Rely on an expert who’s on your side and suggests the best, most cost-effective solution. Call Sandy Heating & Air Conditioning today for all your Heating, Ventilation and Air Conditioning (HVAC) needs.