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U.S. Residential Heating and Air Conditioning Equipment Market
Frost & Sullivan, April 2010, Pages: 84
The U.S. residential heating and air-conditioning equipment market has reached saturation levels with stabilized equipment prices, established market participants and high degree of customer satisfaction. The study analyzes the sub-segments in heating and air-conditioning market segments identifying key trends, market dynamics and provides a forecast across 2006 to 2016 for each of the sub-segments. A detailed company profiling, competitive landscape and market share analysis has been done. A couple of emerging trends such as technology, regulatory, climate, consolidation and pricing trends have been discussed.
This research service titled U.S. Residential Heating and Air conditioning Equipment Market provides a detailed scenario in terms of market dynamics, end-user segments, and the competitive landscape of the companies operating in this segment. The research also offers qualitative market projections from 2006 to 2016. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: heating (gas furnace, oil furnace, boiler space heating, and electric space heating) and air conditioning (unitary systems, heat pumps, and room AC).
Federal Incentives Heat up the North American Market for Heating and Air-conditioning Equipment
End-user concerns about energy conservation and the federal drive toward energy sustainability have given a shot in the arm for the North American heating and air-conditioning market. Federal incentives and tax rebates for energy-efficient equipment have greatly helped improve replacement sales, which account for the major share of market revenues. “Between 2006 and 2007, the Energy Policy Act of 2005 made available tax credits for energy-efficient technologies such as water heaters, furnaces, boilers, heat pumps, air conditioners, building insulation, roofing, and circulating fans in the residential segment,” says the analyst of this research. “The 2009 stimulus funding to revive the U.S. economy has further expanded the tax credit, fueling sales of HVAC equipment.” Apart from the boost from the federal government, the market has also benefited from an increased environmental consciousness. Consumers’ demand for higher energy efficiency has compelled manufacturers to hike their R&D spending to enhance equipment efficiency and control functionalities to withstand competition. Volatile fuel prices have also played a huge part in driving the demand for energy-efficient systems.
The 2010 regulation for refrigerant change is expected to cause the air conditioning market to shift from R-22 to the ozone-friendly R410A refrigerants, reducing the footprint of HVAC equipment. This is likely to have an effect on the equipment prices for the next couple of years. “Striking a balance between customer demand for high efficiency and cost is critical, as the competitive environment forces companies to reduce cost, increase efficiency, and show product differentiation to retain and enhance market share,” notes the analyst. “Manufacturers have to find new avenues for innovation and product differentiation.” While customers evaluate systems based on longevity, product quality, and price points, participants could also offer value-added services through service contracts, extended guarantee, warranty, and security agreements to differentiate themselves. Companies are looking to achieve economies of scale across R&D, production, and distribution to offer attractive prices and stay competitive.
Companies are designing equipment to ensure maximum convertibility of fuel into energy to address the issue of residue deposits after burning fuel. They are making efforts to integrate renewable energy technologies into heating equipment to make them more environment friendly. Active solar heating not only helps slash consumers' budgets, but also reduces the greenhouse gases emitted from traditional systems. Meanwhile, in the air conditioning market, climate change, carbon footprint, and environmental consciousness have been the buzzwords that are pushing the market toward a greener environment. They are also simultaneously speeding up technological developments and expansion opportunities.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Heating:
- Gas Furnace
- Oil Furnace
- Boiler Space Heating
- Electric Space Heating
Air conditioning:
- Unitary Systems
- Heat Pumps
- Room AC
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