Why the Global HVAC Industry Is Expected to Grow 6.1% by 2024
May 23, 2019
The HVAC industry is expected to grow by 6.1% globally from 2019 to 2024. If you ask Anderson heating and cooling experts, this projection will benefit both equipment manufacturers and service markets. Below are the two key drivers of high global HVAC demand.
More Properties Mean More HVAC Systems
Strong economic growth in different regions across the world inspires greater construction activity. Many people are migrating to existing and newly emerging cities, stimulating direct real estate investment.
Most of these positive developments are happening in the Asia-Pacific region. Increasing wealth and prosperity throughout the region will keep manufacturers and service technicians of HVAC systems busy for the foreseeable future.
Regulation Fuel Upgrades
Local HVAC industries in North America and Europe are also going to explode. However, unlike the Asia-Pacific region and other areas of growth around the planet, such as Latin America and the Middle East, these continents will see more maintenance and replacement services.
Government regulation is compelling property owners to rethink their heating and cooling systems and forcing HVAC companies to innovate. For instance, the United States is currently transitioning from the use of R-22 to R-410A, a refrigerant that won’t deplete the ozone layer.
Upgrades to high-efficiency furnaces, boilers and air conditioners are in vogue too. We now have heating technologies that convert almost 100% of fuel into thermal energy.
Invest In an Energy-Efficient Anderson Heating and Cooling System Now
Adopt the latest HVAC technologies with Anderson heating and cooling solutions. Anderson Air Corps offers a broad selection of units suitable for residential and commercial properties. From emergency repair service to installation, we do everything to keep any HVAC equipment functional, energy-saving and long-lasting.
Discuss your heating and cooling needs with us now. Call (505) 855-9028 to learn about our products, services and financing options and to receive a free estimate.