US demand to rise 5.4% annually through 2015 Demand in the US for heating, ventilation and air conditioning (HVAC) equipment is projected to rise 5.4 percent annually to $17.2 billion in 2015, spurred by a projected recovery in construction from a low 2010 base. Demand will also benefit from interest in more energy efficient HVAC systems driven by volatile energy prices.
Hvac equipment to 2015 (heating, ventilation & air conditioning)
1. HVAC Equipment to 2015 (Heating, Ventilation & Air Conditioning)
Published:November 2011
No.Of Pages:329
Price:US $ 5100
Report Summary
US demand to rise 5.4% annually through 2015 Demand in the US for heating, ventilation
and air conditioning (HVAC) equipment is projected to rise 5.4 percent annually to $17.2
billion in 2015, spurred by a projected recovery in construction from a low 2010 base.
Demand will also benefit from interest in more energy efficient HVAC systems driven by
volatile energy prices. Public and private rebates, credits and other incentives will
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
with chlorine will also favorably affect sales of HVAC
equipment.
Although HVAC shipments are forecast to advance somewhat faster than demand at 5.7
percent per year to $15.8 billion in 2015, imports will account for two-thirds of demand as
producers outsource manufacturing to lower cost facilities, mainly in China and Mexico. In
addition, rising competition from producers based in low cost countries and the recovery in
the US HVAC market will both lead to growing imports.
Natural gas, geothermal
systems to grow at above average annual rates The choice among various fuels used in
HVAC systems is largely influenced by the convenience, environmental friendliness,
availability and price of the fuels, as well as the initial costs, operational costs and efficiency
of the systems that use the fuels. In 2010, electric-powered HVAC systems accounted for 77
percent of US sales value and natural gas-burning systems accounted for another 16
percent. Through 2015, systems operating on natural gas and geothermal energy will post
above average gains.
Furnaces to be fastest
growing heating equipment In 2010, heat pumps accounted for the largest share of heating
equipment value demand. However, because of the rebound in residential construction and
their low initial cost, furnaces are expected to post the strongest gains through 2015, rising
seven percent annually. Furnaces will also benefit from their amenability to installation with
other central home comfort systems.
Browse All Manufacturing & Construction Market Research Reports
Unitary air conditioners
to post solid gains Unitary air conditioners are by far the most widely used product in the
cooling equipment market, accounting for over 70 percent of total value demand in 2010
2. and will remain the leading type for the foreseeable future. Through 2015, these cooling
systems will also post above average gains, supported by the rebound in new building
construction and by the rising share of residences with central air conditioning. The cooling
equipment industry is affected by a variety of regulations, including those involving ozone-
depleting hydrochlorofluorocarbon refrigerants.
New building markets to
post above average gains Both the residential and nonresidential markets for HVAC
equipment are expected to recover from weak 2010 levels. In both markets, the new
building segment is expected to post above average gains as building construction activity
rebounds. However, the larger improvement and replacement segment will also provide
solid growth opportunities through 2015.
Study coverage
This new Freedonia industry study, HVAC Equipment, is priced at $5100. It presents historic
US demand data (2000, 2005, 2010) plus forecasts for 2015 and 2020 by fuel type,
equipment type and market. The study also considers market environment factors,
evaluates company market share and profiles 34 US industry competitors.
Table Of Contents
INTRODUCTION
I.EXECUTIVE SUMMARY 1
II.MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 4
Demographic Trends 8
Population 9
Households12
Consumer Trends13
Personal Income & Expenditures13
Consumer Financing16
Building Construction19
Residential22
New Housing25
Housing Stock30
Improvements & Repairs34
Nonresidential35
New35
Improvements & Repairs38
Regulations & Standards39
Refrigerants40
Efficiency44
Pricing Trends46
World Market49
Foreign Trade53
Exports54
Imports57
4. Room Air Conditioners 153
Supply & Demand 153
Characteristics 156
Types 159
Manufacturers 159
Chillers 160
Supply & Demand 160
Characteristics 163
Absorption Liquid Chilling Systems 164
Supply & Demand 165
Characteristics 167
Dehumidifiers 167
Supply & Demand 168
Characteristics 170
Manufacturers 172
Packaged Terminal Air Conditioners 172
VI.MARKETS 175
General 175
Residential 178
New Building 182
Heating Equipment 186
Cooling Equipment 188
Replacement 190
Heating Equipment 194
Cooling Equipment196
Nonresidential 197
New Building 201
Replacement 203
VII.INDUSTRY STRUCTURE 207
General 207
Industry Composition 207
Market Share 211
Competitive Strategies 217
Research & Development 219
Distribution 221
Marketing 224
Mergers & Acquisitions 226
Cooperative Agreements 227
Company Profiles 232
AAON Incorporated 233
Airedale International Air Conditioning, see Modine Manufacturing
Airwell-Fedders North America, see Elco Holdings
Allied Air Enterprises, see Lennox International
American Standard Heating and Air Conditioning, see
Ingersoll-Rand
Bradford White Corporation 236
Bryan Steam, see Burnham Holdings
5. Burnham Holdings Incorporated 238
Carrier, see United Technologies
Circul-Aire, see Dectron Internationale
ClimaCool, see LSB Industries
Climate Energy, see ECR International
ClimateCraft, see LSB Industries
ClimateMaster, see LSB Industries
Crown Boiler, see Burnham Holdings
Daikin Industries Limited 243
Danfoss A/S 247
Dectron Internationale Incorporated 249
Dunham-Bush Holding Berhad 252
Dunkirk, see ECR International
Ecosaire, see Dectron Internationale
ECR International Incorporated 254
Elco Holdings Limited 257
Electrolux AB 259
Emerson Electric Company 260
Enviromaster International, see ECR International
Friedrich Air Conditioning Company 262
Fusite, see Emerson Electric
GD Midea Holding Company Limited 265
GeoSystems, see Research Products
Goodman Global Holdings LP 267
Governale, see Burnham Holdings
Haier Group Company 269
Hartford Compressors, see Dunham-Bush Holding Berhad
Heat Controller Incorporated 271
Ingersoll-Rand plc 273
International Environmental, see LSB Industries
Johnson Controls Incorporated 277
LAARS Heating Systems, see Bradford White
Lennox International Incorporated 281
LG Electronics Incorporated 285
LSB Industries Incorporated 286
McQuay International, see Daikin Industries
Mestek Incorporated 289
Modine Manufacturing Company 294
New Yorker Boiler, see Burnham Holdings
Nordyne, see Nortek
Nortek Incorporated 297
Olsen/Airco Heating & Cooling Products, see ECR International
Paloma Company Limited 301
Panasonic Corporation 304
PB Heat LLC 306
Raypak, see Paloma Industries
RefPlus, see Dectron Internationale
Research Products Corporation 308
Rheem Manufacturing, see Paloma Industries
SANYO Electric, see Panasonic
Sharp Corporation 310
6. Tecumseh Products Company 311
Thermal Solutions Products, see Burnham Holdings
Thermo Products, see Burnham Holdings
Therm-O-Disc, see Emerson Electric
Thermoplus Air, see Dectron Internationale
Thomas & Betts Corporation 313
Trane, see Ingersoll-Rand
United Technologies Corporation 316
US Boiler, see Burnham Holdings
Vilter Manufacturing, see Emerson Electric
Whirlpool Corporation 323
White-Rodgers, see Emerson Electric
York International, see Johnson Controls
Additional Companies in HVAC Equipment 325
LIST OF TABLES
TABLE NUMBER PAGE
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 8
2 Population & Households 9
3 Personal Consumption Expenditures15
4 Consumer Financing Environment, 2000-201019
5 Building Construction Expenditures22
6 Residential Building Construction Expenditures25
7 New Housing Indicators30
8 Housing Stock by Type33
9 Residential Improvement & Repair Expenditures35
10 Nonresidential Building Construction Expenditures38
11 Nonresidential Building Improvement & Repair Expenditures39
12 HVAC Equipment Prices49
13 US Foreign Trade in HVAC Equipment54
SECTION III -- HEATING & COOLING FUEL TYPES
1 HVAC Equipment Demand by Fuel Type61
2 Electric HVAC Equipment Demand65
3 Natural Gas-Burning HVAC Equipment Demand68
4 Geothermal Energy HVAC Equipment Demand71
5 Heating Oil-Burning HVAC Equipment Demand74
6 Other Energy-Powered HVAC Equipment Demand77
SECTION IV -- HEATING EQUIPMENT
7. 1 Heating Equipment Supply & Demand82
2 Heating Equipment Shipments by Type84
3 Heat Pump Supply & Demand90
4 Heat Pump Shipments by Type92
5 Air Source Heat Pump Shipments94
6 Geothermal Heat Pump Shipments99
7 Warm Air Furnace Supply & Demand 105
8 Warm Air Furnace Shipments by Type 107
9 Natural Gas-Burning Warm Air Furnace Shipments by Type 111
10 Electric-Powered Warm Air Furnace Shipments by Type 114
11 Heating Oil-Burning Warm Air Furnace Shipments 117
12 Boiler Supply & Demand 120
13 Boiler Shipments by Type 121
14 Cast Iron Boiler Shipments by Fuel Type 123
15 Steel Boiler ShipmentS by Fuel Type 128
16 Room & Zone Heating Equipment Supply & Demand 131
17 Humidifier Supply & Demand 135
SECTION V -- COOLING EQUIPMENT
1 Cooling Equipment Supply & Demand 141
2 Cooling Equipment Shipments by Type 144
3 Unitary Air Conditioner Supply & Demand 148
4 Room Air Conditioner Supply & Demand 156
5 Chiller Supply & Demand 163
6 Absorption Liquid Chiller Supply & Demand 166
7 Dehumidifier Supply & Demand 170
8 Packaged Terminal Air Conditioner Supply & Demand 174
SECTION VI -- MARKETS
1 HVAC Equipment Demand by Segment & Market 177
2 Residential HVAC Equipment Demand by Market & Type 181
3 New Residential HVAC Equipment by Type & Building 185
4 Replacement Residential HVAC Equipment Demand
by Type 194
5 Nonresidential HVAC Equipment by Market & Type 200
6 New Building Nonresidential HVAC Equipment Demand
by Type 203
7 Replacement Nonresidential HVAC Equipment Demand
by Type 206
SECTION VII -- INDUSTRY STRUCTURE
1 US HVAC Equipment Sales by Company, 2010 210
2 Selected Cooperative Agreements 230
LIST OF CHARTS
CHART NUMBER PAGE
8. SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 201033
2 US HVAC Equipment Exports by Destination, 2000-201057
3 US HVAC Equipment Imports by Source, 2000-201059
SECTION III -- HEATING & COOLING FUEL TYPES
1HVAC Equipment Demand by Fuel Type, 201062
SECTION IV -- HEATING EQUIPMENT
1Heating Equipment Shipments by Type, 201085
SECTION V -- COOLING EQUIPMENT
1 Cooling Equipment Shipments by Type, 2010 145
SECTION VI -- MARKETS
1 HVAC Equipment Demand by Market, 2000-2020 178
2 Residential HVAC Equipment Demand by Market,
2000-2020 182
3 New Residential HVAC Equipment Demand by Building
Type, 2010 186
4 Heating Equipment Installed in New Single Unit Housing
by Type, 2010 188
5 Share of New Housing Units with a Central Air Conditioning System, 2000-2010 190
6 Nonresidential HVAC Equipment Demand by Market,
2000-2020 201
SECTION VII -- INDUSTRY STRUCTURE
1 US HVAC Equipment Market Share, 2010 213
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