02, November 2017: The growth in the HVAC market is gathering pace rapidly and shows no signs of slowing down anytime soon. In fact, report by TechSci estimated that the market would reach or possibly exceed 44 Billion dollars per annum by 2022. This growth will greatly benefit leading distributors and manufacturers of HVAC systems such as Trane, National Air Warehouse and Carrier.
The reasons behind the growth can be attributed to a wide range of factors including but not limited to global warming, urbanization, and demand for improved living conditions. With people’s increased knowledge and awareness of the global warming phenomenon and the importance of high-quality indoor air, there is no longer an acceptance of making do without air conditioning.
With recent improvements in technology and the efficiency of modern-day HVAC systems, they have become significantly more affordable, which has in turn further increased demand. Customers are also able to research and access significantly more information than in the past, thanks to the internet and numerous HVAC blogs specializing in a wide variety of different subjects. Today’s consumer is certainly a lot more educated than the previous generation when it comes to HVAC solutions.
The only negative that may slow down the growth in HVAC demand is the ever-increasing cost of energy. Although this might seem like a difficult problem to resolve, HVAC manufacturers are continually researching and looking for ways to minimize the cost of operation. If these projections turn out to be true, then the HVAC industry has plenty of growth potential and could present an excellent investment for the shrewd investor, although it is important to conduct due diligence before investing any funds.
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