Thanks to the prevalent use of online search engines like Google, consumers everywhere are becoming more educated on the products they buy, and HVAC systems are no exception. Homeowners are learning all about efficiency ratings and connectivity — and they want it. The global condensing unit market is projected to grow from an estimated $21.94 billion in 2017 to $32.47 billion by 2022, at a compound annual growth rate of 8.2 percent from 2017 to 2022, according to a report from MarketsandMarkets.
“The most significant trend we are seeing across the condensing unit category is the growth in residential new construction and add-on replacement categories,” said Pam Hoppel, senior director, product marketing, Carrier Corp. “Homeowners are choosing higher-efficiency, single-stage condensing units, including 16 SEER/13 EER and 17 SEER/13 EER, and are becoming increasingly aware that an investment in higher SEER can lead to long-term savings in lower energy bills.”