HVAC Residential Market

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The global market for air conditioning systems was valued at $104.4 billion in 2015 and is projected to reach $167 billion by the end of 2024, expanding at a 5.1 percent compound annual growth rate (CAGR) from 2016 to 2024.

Nationwide, this summer has been one of the hottest in recorded history. Per the National Oceanic and Atmospheric Administration (NOAA), the June temperature for the contiguous U.S. was 71.8°F, or 3.3° above the 20th century average. The busy summer season has seen its fair share of ups and downs so far, but overall, HVACR distribution is in a good place.

The term radiant heating makes most people think about warm floors. Although it’s true there are many excellent applications for radiant floor heating, it’s not the only type of radiant panel that can deliver excellent comfort. 

The two-day event, which focused on helping dealers strengthen and grow their businesses, featured presentations on WaterFurnace products, marketing tools, training, financing, and more. Attendees also heard updates from the Geothermal Exchange Organization (GEO) and the International Ground Source Heat Pump Association (IGSHPA) regarding the geothermal tax credits.

Homeowners who have comfort problems often call HVAC contractors. There is a lot of opportunity here, though the road to success is crowded with barriers. But having a way to truly verify the operation of HVAC installations will overcome many of those barriers. 

Industry figures are estimates that are derived from the best available figures supplied by a sample of AHRI member companies.