United States demand for HVAC equipment is forecast to increase 2.4% per year to $12 billion by 2007, according to a study by The Freedonia Group, a Cleveland-based market research firm.
As noted in the study, HVAC Equipment advances will be primarily driven by an expected rebound in nonresidential construction, along with continued strength in the residential remodeling market. Industry growth will benefit from the expected replacement of older HVAC systems with newer, more efficient systems.