Residential and Commercial Air Conditioning Research
To understand what the current market drivers, constraints and opportunities that exist within both the residential and then the commercial air conditioner markets. Specifically to understand what is important for manufacturers, as well as contractors within HVAC space.
- Over the five years to 2019, the Heating and Air-Conditioning Contractors industry has expanded alongside broad construction trends.
- Private spending on home improvements includes homeowner and residential building owners spending on property upgrades and maintenance, such as the repair and installation of HVAC equipment. Since heating and air-conditioning is typically considered essential to a household's quality of life, the maintenance of working HVAC systems is more resistant to economic downturns than other types of home improvement activities.
- Industry contractors derive a substantial share of revenue from installing HVAC equipment and ducting in new residential buildings and structures, which include single-family homes and multifamily residences, such as apartment buildings. Consequently, growth in housing starts will benefit the industry. Therefore, the rebound of the residential construction market over the past five years has helped industry operators. Housing starts are expected to increase in 2019, presenting a potential opportunity for the industry.
- Replacement of aging systems represents a huge market opportunity for HVAC firms.
Residential Drivers of Growth
- Advances in monitoring systems and intelligent technology are a driving force for HVAC services.
- Improved cooling, built-in tech, a zone plan, going duct free, and efficiency are five trends that are driving the growth and affecting changes in the residential HVAC industry.
Challenges to the HVAC Industry as a Whole
Summary Of Our Early Findings Relevant To The Goals
- Our first hour of research reassured us that there is plenty of publicly available information to fully answer all the questions. However, we did note that the residential and commercial air conditioner markets are very distinct and separate, so that will be reflected in our scoping.
- A geographic focus was not provided to us, so we assumed a United States focus. If a more broad approach is desired, for example, a global focus, this would have to be clearly communicated to us in any reply.
- Our first hour of research focused mainly on the residential side of things and we provided a few insights surrounding opportunities and drivers of growth. We also provided overall challenges (agnostic to residential and commercial) to the HVAC industry.
- Please select one or more of the options provided in the proposed scoping section below.
Proposed next steps:
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