US Leads in Imports of Commercial and Industrial HVAC and Refrigeration Equipment
In 2015, U.S. imports of air conditioning, heating, and refrigeration equipment totaled $15.44 billion
DOUGLAS, Scotland — The United States is the leader in global imports of commercial and industrial air conditioning, heating, and refrigeration equipment, accounting for a 15 percent share (based on U.S. dollars), according to a new report from IndexBox Marketing. The U.S. was followed by Germany (7 percent) and China (7 percent). In 2015, U.S. imports of air conditioning, heating, and refrigeration equipment totaled $15.44 billion, which was $204 million (1 percent) higher than the year before.
From 2007 to 2015, U.S. imports showed mixed dynamics. A significant drop in 2009 was followed by steady growth over the next six years, with a deceleration in 2015. There was an annual increase of 11.7 percent throughout the period, since imports started an upward trend.
In 2011, U.S. imports of commercial and industrial air conditioning, heating, and refrigeration equipment surpassed the pre-recession level of 2007.
With imports growing rapidly in recent years, the U.S. continues to be one of the biggest markets for global exporters.
Mexico, China, and Japan were the main suppliers of commercial and industrial air conditioning, heating, and refrigeration equipment into the U.S., with a combined share of 69 percent of total U.S. imports in 2015. Mexico was the fastest growing supplier (8.6 percent per year) from 2007 to 2015, while imports from China and Japan grew by 5.8 percent per year and 4.1 percent per year, respectively. Mexico significantly strengthened its position in the U.S. import structure, from 28 percent in 2007 to 36 percent in 2015. The shares of other major supplying countries remained relatively stable over the same period.
From 2007 to 2015, the U.S. was a net importer of commercial and industrial air conditioning, heating, and refrigeration equipment. Moreover, imports grew at a faster average rate than exports over the period under review.
After several fluctuations, the U.S. trade deficit in this sector worsened over the period under review, growing from $2.35 billion in 2007 to $5.52 billion in 2015. The negative trend accelerated sharply in 2014, following rising imports.
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Publication date: 7/1/2016
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