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A just
released study by the Freedonia Group and reported by the HVAC News forecasts strong growth in the
global HVAC industry led by a projected 7.6
percent growth rate in North America over the next four years.
The global
demand for HVAC equipment is projected to rise 6.1 percent per year through 2016 to
$107 billion. Asia/Pacific region will outpace the global average, increasing
6.4 percent per year through 2016 with China posting the largest growth.
Heat pumps
are expected to post the highest growth rates reflecting growing acceptance of
these heating and
cooling units. Reliability and performance have increased dramatically from
their checkered past when the extended application range of these products
outpaced their capabilities to provide reliable operation at acceptable
performance levels. Advances in technology have evolved these products into
state of the art units that can now perform at ambient temperatures of 125 F
down to -15F and lower in some cases.
Editor's Note: CR4 would like to thank Larry Butz, President and CEO of GEA Consulting, for contributing this blog entry.
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