February 7, 2006—The market supply for HVAC equipment experienced double-digit growth in 2005 reaching a value of $13.3 billion. A new report from market research firm SBI, shows the market supply surpassing $18 billion by 2010.
Unitary air conditioners and ground source heat pumps lead growth in domestic shipment values, with unitary air conditioners — making up a 68% share of total market shipment values — growing 16% in 2005 to reach $8.5 billion. Conversely, room air conditioners and dehumidifiers declined in both volume and value, with volume declining 11% in 2005.
SBI projects the market will continue to see annual increases in value due primarily to continued growth in the residential and non-residential construction markets. New construction, reconstruction and remodeling were key influences on increases in HVAC system retrofits and upgrades in 2006.
Containing comprehensive data on US shipments, imports and exports, end-use markets, purchaser demographics, and the competitive environment, the report identifies key issues, regulations and trends affecting the marketplace, and profiles major marketers along with manufacturer and retailer strategies. The report can be purchased online from SBI.
