HVAC solutions are imperative for commercial and residential buildings around the globe. As technology and economic trends shift, more opportunities are rising in the marketplace. From increased housing demand to innovation in refrigerant applications, there are a medley of advancements and changes that are occurring. To thrive in the contemporary economic landscape, consider these trends that are transforming the industry.
Residential Construction Demand
As the demand for residential housing increases, so is the demand for HVAC solutions. Population demographics are increasing throughout the country and the world for the matter. People are earning more money and buying homes and second properties. Recent data reflects an upward trend for HVAC manufactured products and equipment in residential applications. Large contractors and manufacturers will benefit greatly from this upward trend in development.
Technology Advances
Innovative products in the HVAC sector are rejuvenating the industry. Some of these new innovations include advanced thermostats and cooling processors. These applications are more energy-efficient and cost less to maintain and install. They further help automate many HVAC applications, thereby reducing labor costs for manufacturing companies.
Refrigerant Innovation
Variable refrigerant applications have gained popularity in Asia, especially Japan and China recently, and is now gaining momentum in the United States as well. This technology enables several indoor fan coils to connect together with a single outdoor condensing system. This trend continues to grow and is expected to increase for years to come.
Industrial Expansion
As the global economy grows and more countries develop, higher demand for HVAC systems will result. Demand has been strong in places like China, Russia, Brazil and India where a growing middle class has both contributed to and benefited from industrial expansion. Production facilities and factories are investing in HVAC technology to enhance their production systems in an effort to bolster their balance sheets.