The Rise of HVAC Demand: Its Cause & Effect

A Freedonia Group study showed that heating and cooling demand across the country would rise to 6.8 percent in 2019, with sales amounting to $20.4 billion. That is almost twice the HVAC demand rate during the period from 2009 to 2014. Shipments of heating and cooling equipment will grow to 6 percent, which amounts to $16.5 billion. Read on to find out what’s fueling this rising demand as well as its potential impact on you.

Reasons Behind the Increasing HVAC Demand

• Rising housing market — The market has witnessed steady expansion in the last couple of years. That has led to led to a higher demand for residential heating and cooling products.
• Improved economy — Thankfully, the economy as a whole has been growing since the Great Recession of the late 2000s. With homeowners now having more funds, they’re opting to replace their HVAC systems rather than have them repaired. That’s unlike the harder times when they turned to repair because of affordability.
• New technology — Technological advancements in the HVAC industry have led to the development of high-efficiency systems with cutting-edge features, which significantly boost home comfort. As a result, homeowners are upgrading from their older systems to the newer and more efficient HVAC technology.

Effects of the Rising HVAC Demand

• Demand for more HVAC-related jobs — The demand for HVAC equipment has spurred a surge in need for repair and installation services. This has created more demand for skilled technicians.
• Need for replacements — Improved technology has resulted in the development of greener heating and cooling options. This has led to the enactment of new safety standards and regulations, for example, phasing out of the R-22 refrigerant by 2022. That will encourage most residential and commercial HVAC owners to replace their old systems with modern ones.

Recent research findings point toward HVAC demand continuing to rise. It’s, therefore, an excellent idea for you to keep up with the latest trends and comply with the latest developments in the industry. For more information on any HVAC issue, contact Energy 1 Heating & Air Conditioning. We’re Lorain’s trusted source for high-quality HVAC solutions.