Danfoss Presents 2019 Business Outlook, Regulatory Update
Danfoss held its 24th annual press conference at the Georgia Aquarium. Against the backdrop of beluga whales swimming by, the company offered its business outlook for 2019, as well as a regulatory update.
John Galyen, president-North America, started off by stating that in 2018, Danfoss's North American business experienced 12 percent growth.
"The HVACR markets were solid," he said. "For 2019, we expect to see 3 percent growth overall and high single digit growth in HVAC for the year. There will likely be some softening in the second half of the year. Rising material costs and tariffs will weigh on the U.S. market, and higher interest rates will temper the residential market."
Director of public affairs, Mark Menzer, noted that from a regulation standpoint, 2018 was a tough year. With the lack of direction from the federal government regarding HFCs, the action is moving to the states and cities, he said. California is leading the way by adopting EPA SNAP rules and banning service refrigerants that have GWPs greater than 2,500, as well as new R-410A equipment in 2023.
"We want to avoid a patchwork of state regulations," he said. "But we are ready to help customers move into a low GWP future."