subject: World Hvac Equipment To 2014 [print this page] World HVAC Equipment to 2014 World HVAC Equipment to 2014
Global HVAC demand to rise more than 6% annually through 2014
Global demand for HVAC equipment is projected to rise over six percent per year through 2014 to more than $88 billion. Demand will benefit from recovery in the key US market, which will rebound from dismal levels in 2009. Demand in the Asia/Pacific region will also outpace the global average, increasing 6.6 percent per year through 2014. China will be the fastest growing national market and comprise the largest share of global demand growth through 2014. Above average growth will also occur in India due to solid gains in the number of households and rising per capita incomes. (http://www.bharatbook.com/detail.asp?id=141425&rt=World-HVAC-Equipment-to-2014.html )
US market to pace growth among developed areas
Despite a modest outlook in the shorter term, US demand for HVAC equipment is expected to rise over seven percent per year through 2014. Gains will result from recovery in residential building construction expenditures, which plummeted in 2009 due to the economic recession. Advances in other developed areas, such as Canada and Japan, will be more modest, reflecting high penetration rates and modest construction gains. Low ownership rates in Western Europe (relative to other industrialized nations) will present opportunities.
Cooling equipment to continue outpacing heaters
Cooling equipment growth will continue to outpace heating equipment gains through 2014, reflecting the lower penetration rates of air conditioning equipment. Among products, room air conditioners will post the strongest gains worldwide. Rising income levels in Asia, especially China, will bolster demand for window-type air conditioners. In Western Europe, mini-split room air conditioners will post solid gains due to the lack of ductwork in most European homes. Gains for other cooling equipment such as chillers will post solid gains due to rising nonresidential construction expenditures.
China has grown into the largest supplier of HVAC equipment due to its inexpensive labor pool, which has made the pricing of Chinese goods especially competitive. China is particularly strong in the room air conditioner segment, exporting products to the US, Western Europe and throughout Asia.
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