With the days short and the nights long you might think that there isn’t much to report to HVAC industry leaders and consumers on, but this couldn’t be further from the truth! The industry is a dynamic commerce that everyone relies on most days throughout the year. As we finish out the winter months, HVAC systems keep us warm right up until the change in seasons. In the spring and summer months we turn to HVAC systems to keep us comfortable and cool.
The ever growing industry is in demand for new structure increases, along with a need for the components that make up the system. A new report from Frost & Sullivan finds that the global HVAC market is expected to grow $108.93 billion in 2020, up from the $80.67 billion in earned revenues in 2014. The growth trends are attributed to smart technologies and energy efficient requirements.
A recent AHR Expo survey found that 86% of respondents are confident that business will be good in 2016. This optimism spread to expected sales growth and a positive outlook for the industry. The best overall outlook for market segments in the coming year are listed as data and telecom centers, hospitals, and healthcare facilities.
The HVAC industry seems to be in good shape and is expected to get even better as the year progresses forward. With construction starts picking up, the housing market continuing to recover, and the economy strengthening, we expect to see positive growth in equipment sales and systems.
As specialists in manufacturing customized products for the HVAC industry, Alan Manufacturing will be there to support the industry’s growth with the highest quality, 100% U.S. made components.
Contact us today to learn more about our products and services.