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Research on Global & US HVAC (Heating Ventilation and Air Conditioning) Industry, 2015

Published By :

Chisult Insight Co., Limited

Published Date : Jul 2015

Category :

Consumer Electronics

No. of Pages : 251 Pages

The global HVAC equipment market is positioned for another year of above-average growth, with a fundamental setup for the US that is the best in over 10 years. On this front, the stars aligning for residential on employment, lower gas, and higher consumer confidence, all on an easy weather comparison with better price/mix and lower raw materials costs, while commercial markets face a steady nonresidential recovery.

The underlying trends here are now firmly above the EE/MI sector average and, importantly, should be sustainable. From a macro perspective, the industry is mostly immune to concerns around currency-related competitive risks.

Potential upside from continued release of pent-up demand and an easy weather comp from a cool summer in 2014. While the pre-buy impact from 13 SEER should reduce reported AHRI volume numbers by 8% in 2015. 14 SEER is positive with less risk around share shift and a positive benefit to margins and sales from mix up, which comes, for some, on a similarly priced cost base.

US Commercial HVAC market remains a more straightforward call, where about 5% growth in 2015/16 based on an ongoing non-res construction recovery (6-7% growth) and stable 4% replacement. Ductless continues to be the talk of the industry, a market that could come to represent 15% of the industry for both residential (~10%) and commercial (~5%).

OEMs were able to realize solid pricing gains in 2014, with most companies announcing low- to mid-single- digit price increases for 2015.

1 Introduction 
1.1 Abstract
1.2 HVAC Technology
1.2.1 Cooling Basics
1.2.2 Residential Cooling Applications
1.2.3 Commercial Cooling Applications

2 Summary
2.1 Global Market Overview
2.2 Residential HVAC 
2.3 Commercial HVAC
2.4 Market Landscape
2.5 Snapshot & Key Players

3 Residential HVAC Market
3.1 Near-term Ourlook
3.1.1 Market Size
3.1.2 Replacement Demand
3.1.3 AC/Heat Pump Unit
3.2 Long-term Outlook
3.2.1 New Construction
3.2.2 Non-construction Adoption
3.2.3 Replacement Demand
3.2.4 Regulation: Look Ahead 14 SEER Transition
3.3 Residential HVAC Market Landscape
3.3.1 Market Share
3.3.2 Supply
3.3.3 Distribution

4 Commercial HVAC Market
4.1 Outlook
4.1.1 Construction Trends
4.1.2 Market Size
4.1.3 Market Landscape
4.2 Ductless Market in North America
4.1 Introduction
4.2 Competitive Landscape
4.3 Industry Consolidation Outlook

5 Sub-Markets
5.4.1 Compressors
5.4.2 Thermostats
5.4.3 Refrigerants
5.4.4 Motors
5.4.5 Restructuring Opportunity

6 Research on HVAC Margins
Global HVAC Equipment Market Breakdown, 2014
Global HVAC Equipment Market Share, 2014
Global HVAC Equipment Sales, 1986-2016
HVAC OEM Announced Price Increases
Residential Unitary AC/Heat Pump Shipments, 2013-2014
Growth Rate of Windows Units by AHAM & AHRI, 2003-2014
Reported & Underlying Volume Growth Estimates, 2015-2016
Residential Unitary Shipments, 2014-2016
Market Share of Key Players across Various HVAC Market Segments, 2014
Distribution of Global HVAC Market Sales by Segments (including Aftermarket & Services), 2014
Distribution of Global HVAC Market Sales by Segments (excluding Aftermarket & Services), 2014
AC/Heat Pump Units for New Residential Construction in the US, 2004-2016
Growth in Occupied Homes with AC in the US, 1974-2014
Annual Replacement Shipments & Approximated Units Installed Base in the US, 1975-2014
Annual Cooling Degree Days Y/Y vs. Replacement (Non-New Housing) Shipments Y/Y
EMR US Climate Sales versus AHRI Unit Shipments in the US, 2007-2014
AHAM Window Unit Shipments versus AHRI Unitary Shipments in the US, 1985-2014
Percentage of Occupied Homes with Window A/C in the US, 1985-2014
HVAC Replacement Economic Index in the US, 1989-2016
Global HVAC Industry Approximate Revenue Mix, 2014
Global HVAC Units Mix by SEER, 2009-2016
Ratio of Furnace Shipments to AC/Heat Pump Shipments in the US, 1976-2014
OEM Hedging Strategies
AHRI Annual Unitary Shipments in the US, 1974-2014
Annual Housing Completions in the US, 1974-2014
Occupied Homes with Central Air Conditioning in the US, 1974-2014
Penetration Rates of Central A/C in the US, 1974-2014
Replacement Demand Estimates, 1973-2014
Replacement Shipments as % of 12- to 18-Year-Old Shipments in the US, 1991-2014
Historical % of Installed Base Replaced and Implied Life in the US, 1990-2014
Historical Replacement Rates versus Consumer Confidence in the US, 1990-2014
Historical Replacement Rates versus Unemployment Rates in the US, 1990-2014
Historical Replacement Rates versus Existing Home Sales in the US, 1990-2014
Historical Replacement Rates versus Case-Shiller Index in the US, 1990-2014
Historical Replacement Rates versus Housing Starts in the US, 1990-2014
Historical Replacement Rates versus NAHB Survey in the US, 1990-2014
Cost of A/C Replacement in the US by SEER
Medium-Term Replacement Demand in the US, 2015-2017
13 SEER Pre-build and Pre-buy Estimates
Monthly AHRI AC/heat Pump Shipments in the US, 2014
US OEM Organic Revenue Growth versus AHRI Shipments by Quarter, 2014
Annual AHRI AC/Heat Pump Shipments Growth Forecast, 2012-2016
Quarterly AHRI AC/Heat Pump Shipment Growth Forecast, 2014-2015
Industry unit shipments analysis, 2013-2016
Residential Unitary Market Share by Enterprises, 2014
Reported Quarterly Revenue Growth of Major Residential Players, 2011-2014
Distribution Breakdown by OEM
Ranking of Top 30 HVAC/R Distributors in the US, 2013
Key Acquisitions since 2000 (Excluding Carrier Enterprises)
Global Scroll Compressor Market Unit Split by Region, 2014
Global Market Share of Inverter ACs, 2008-2014
Smart Thermostat Market Units, 2013-2018E
North America Control Revenues
Leaderboard Grid Thermostats
Smart Thermostat Unit Forecast, 2014-2017
Smart Thermostat Unit Forecast, 2014-2018
ADT Pulse Take Rates
R-22 Production Allocations, 2015-2020
Quarterly R-22 Refrigerant Prices (Industry Average), 2013-2014
Evolution of Refrigerant Regulations and HON Products
US Non-Residential Construction Sales, 2002-2015
Categories (Shaded) Included in EE/MI Non-Res Index, 2015
Total Non-Res Construction versus EE/MI Non-Res Index, 2003-2015
Residential & Non-Residential Construction Growth in the US, 2003-2015
Non-Res Construction versus Related Company Revenue Growth, 2011-2014
Growth of commercial HVAC Orders of Major Players, 2008-2014
Commercial HVAC Revenues of Major Public Players, 2008-2014
Key Qualitative Differences between Commercial Unitary and Applied HVAC
Replacement Demand versus Capacity Utilization, 1992-2014
Replacement Demand versus Vacancy Rates, 1992-2014
Proxy for US Commercial HVAC Construction, 2014
New Construction Growth (Based on Weighted Index), 2003-2016
Non-Res Put-in-Place Data by Vertical, 2004-2016
US Equipment Growth Forecasts-Applied Versus Unitary, 2002-2016
Market Share of Ductless Commercial VRF in the US, 2008-2016
Retail Sales of RACs in China, 2008-2013
BSRIA Estimates of Global Chiller and Airside Equipment, 2008-2013
US Versus Global Equipment Growth for US OEMs, 2002-2016
Global HVAC/Controls Growth, 2011-2020
Global Chiller Market Share by Region, 2014
Global VRF Market Share by Region, 2014
China Centrifugal Chiller Shipments, 2008-2013
Daikin China Commercial HVAC Growth Rates, 2010-2014
US ESCO Revenues by Contract Type, 2014
US ESCO Revenues by Vertical, 2014
US ESCO Revenues by Function, 2014
Summary of Key Global HVAC Players

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