Optimism for improving economic business prospects in the HVACR industry continue to grow, according to a recent ASHRAE/AHR Expo survey sent to more than 1,000 HVACR manufacturers worldwide.
According to survey results, 79% of the respondents said their prospects for business were either “excellent” (19%) or “good” (60%) for the coming year. The remaining 21% of the respondents felt prospects were “fair.”
According to ASHRAE and the AHR Expo, these results reflect a significant improvement over last year’s survey that found 70% of respondents expected the economy to be better in 2013 than 2012, while 3% predicted it would be worse. No one responding to this year’s survey felt economic prospects would worsen in 2014
The survey also found that 90% of the HVACR manufacturers believe sales will increase, with 32% expecting sales increases of more than 10%. Thirty-one percent forecast sales increases between 5% and 10%, and 27% expect increases of less than 5%. Ten percent believe sales will remain the same, while no one predicts sales will decrease. This year’s survey registered a 4% jump over last year when 86% of the respondents forecasted sales would increase and 3% expected sales to decrease.
When asked which market segments would be the most promising in the new year, hospitals/health care ranked first, followed by light commercial. Heavy commercial, data and telecom centers, and office buildings also ranked high.
The survey comes just months before the 66th AHR Expo, which will take place January 21-23, 2014, at the Javits Convention Center in New York City. ASHRAE will hold its winter conference alongside the AHR Expo in New York City, Jan. 18-22.
For more information, visit the show’s website at www.ahrexpo.com.