A new study released by the firm Companies and Markets estimates the global air conditioning market will grow at a compound annual growth rate of 18.5 percent through 2015. This is a good sign for the growing U.S. HVAC market, which staged a remarkable recovery in 2010 after the temporary stall in industry growth resulting from the economic recession.
The report cited the key factors contributing to growth include the increased need for energy-efficient air conditioners and the development of inverter-based air conditioners. Another major factor that will affect the U.S. market in the coming years is the growing need for system replacements. There is already a rise in demand for replacing old air conditioning systems with new energy-efficient models, a trend which is expected to grow with the increased focus on energy conservation. Another trend shifting the industry is the decrease of overall price for air conditioners that is a result of the increase in competition among vendors.
For more information on the global air conditioning market study, visit http://bit.ly/TawLJl.