A study from The Freedonia Group Inc., a Cleveland-based industrial market research firm, shows that the demand for HVAC equipment will grow to $14.3 billion in 2009, fueled by the uptick in nonresidential construction and the ongoing strength in residential remodeling.
"Beyond simply replacing heating and cooling units that are no longer functional, energy efficiency is the primary factor driving sales in the replacement market since newer units have much lower operating costs, in terms of maintenance requirements and energy usage, than older units," said Freedonia analyst Jennifer Mapes.