BSRIA’s presentation will highlight the latest global trends and drivers for HVAC equipment, including intelligent buildings and homes, air conditioning and traditional heating products. The presentation will identify the global areas of growth and forecasts for the markets.
Despite the economic downturn, HVAC industry revenue from 2009 to 2014 increased at an annualized rate of 2.4 percent. With the positive developments now seen in the market, industry revenue is forecast to rise over the next five years, with significant growth in 2014.
Weakened demand for HVAC services in the United States during the recession intensified price-based competition and put pressure on profit margins. According to a new industry report from IBISWorld, the HVAC industry is forecast to return to growth this year and continue to grow for the next five years.