U.S. HVAC Industry – 2013 Review and 2014 Outlook

Climate Conversations

2013_2014

As we kick off 2014, it is important to look at the past year in review, as well as consider the economic outlook as it applies to the U.S. HVAC industry.  The unitary market segment did very well in 2013, led by strength in new construction, replacement/add-on, and unitary system exports.  Overall, unitary shipments were up 9 percent and production was up 8 percent.

Historically, there are a variety of key economic indicators which affect the HVAC industry, including housing starts, real GDP (gross domestic product), residential fixed investment, prime interest rates and the unemployment rate.  With the exception of the prime rate and GDP, all of the indicators trended favorably in 2013 and many economists are expecting these trends to continue into 2014.  The economy is expected to see a moderate GDP increase which will help the HVACR industry to continue its recovery, with moderate growth in the…

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