A ban on the installation of natural gas infrastructure in new buildings is coming soon to a town near you, and the local HVAC industry needs to be prepared — or maybe not.
According to the “Heating Equipment Market in the U.S.” study from The Freedonia Group, forced-air heating is the preferred comfort delivery method in the U.S. Of those, warm-air furnaces comprise the vast majority of the overall demand with 64 percent of the total value of sales in 2016.
The global heat exchangers market was valued $12.61 billion in 2015 and is projected to reach $20.12 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.9 percent from 2016 to 2022, according to Heat Exchangers Market Report published by Allied Market Research. The shell and tube heat exchanger segment held approximately one-fourth of the total market share in 2015.
Crude oil, from which heating oil is refined, is set to average $34.60 per barrel in 2016, representing a steep drop from the $93.17-per-barrel average of 2014.
According to estimates, customers can save up to $1,262 on space heating and more than $300 on water heating costs annually by using appliances powered by natural gas instead of other common energy choices.
Chesapeake Utilities Corp. announced that it has acquired the operating assets of Austin Cox Home Services Inc. Based in Salisbury, Md., Austin Cox provides HVAC, plumbing, and electrical services to residential and commercial customers throughout the lower Delmarva Peninsula.