Articles Tagged with ''economic outlook''

The Building Services Research and Information Association (BSRIA) is forecasting a total global growth of 20 percent in the smart home/light commercial market in 2017, with the largest growth being predicted for the UK market with a growth rate of 29 percent. The new study published in January 2017 segments the market into stand-alone products and whole home products; it also analyzes the value of system integration (value add) and service and maintenance.

Demand for air source heat pumps is forecast to increase 2.5 percent per year through 2021 to $2.1 billion. Air source heat pumps comprise a significant amount of total heat pump demand, largely due to the easier installation requirements and lower initial costs than geothermal heat pumps. Air source heat pumps also compete more directly with other HVAC equipment and are a viable heating and cooling option in most buildings. 

Residential and commercial sectors, coupled with rising disposable income, are augmenting demand for air conditioners across the globe. Growing acceptance of air conditioners as a utility product, rather than a luxury product, is anticipated to boost growth in the global air conditioners market during the forecast period.

The 2016-2017 winter season is set to be one of the longest, most expensive the HVACR industry has experienced in years.

Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will continue to be lackluster.