Findings and forecasts
The in-depth CPAC report published in August 2017 showed that market growth for chillers and airside air conditioning remained positive but relatively weak in 2016. The U.S. market is “mature” and driven primarily by the replacement of old units in retrofit and refurbishment.
The market for central plant air conditioning was valued at US$ 3.14 billion in 2016, compared to US$ 3.05 billion the previous year.
“Most” suppliers are optimistic and share the view that the current positive economic cycle is set to continue over the next two years. However, given the fact that business opportunities in emerging countries are depleting and growth is falling in Europe, the US and its solid economy will attract more international competitors.
Raphael Chalogony, general manager at BSRIA said: “The room, packaged, unitary and furnace air conditioning market in the US is also a mature market with most sales coming from replacements and refurbishments. In 2016, sales increased consistently in volume for residential products, although with different growth rates. The commercial market for packaged units consists of VRF, rooftop units and close control units.
“There was a slight drop in the volume of rooftop units, while VRF grew strongly compared to the previous year. The market for packaged air conditioning was valued at US$17 billion in 2016.
These reports provide a comprehensive analysis of the US market for central plant air conditioning and for the packaged air conditioning markets and provide growth opportunities in both markets.”
Trends and drivers
The CPAC report highlights trends and drivers pertaining to products like chillers, air handling units, fan coils and terminal units, and notes the slowdown in investment in industrial new construction and the low growth in healthcare and education restrained market expansion.
At the same time, a sustained demand in the commercial office and hospitality verticals has triggered some growth in the central plant market.
The Room, Packaged, Unitary and Furnaces Air Conditioning report focuses on trends and drivers of windows and through-the-wall units, PTACs and portables, split units, unitary, furnaces, indoor packaged and precision cooling products. The packaged market in the US is primarily residential with some products being used in the commercial space.
The warm summer of 2016 contributed to growth in residential air conditioning sales.