Research by BSRIA Worldwide Market Intelligence highlights the effect of inflation and the supply chain crisis on the air conditioning market. A generalised supply chain crisis is causing product shortages and longer lead times in commercial AC. This, combined with the demand surge, is generating an inflationary pressure and prices are rising in all the product categories. However, on the demand side, growth is expected to be steady throughout 2022. Exceptionally hot weather in the West of the US boosted sales in 2021.
There are also some surprising outcomes. Electrification and refrigerant regulation in regional pockets of the country is spurring competitors to develop new lines for addressing both heating and cooling and preparing for HFC phase out. While the federal plan to invest in green technology and spur carbon neutral retrofit stalls in the Senate, state, and municipal regulation becomes bolder. Primarily in the West and Northeast, incentives, building codes, and regulatory frameworks accelerate the shift away from fossil fuel and toward the adoption of electricity for heating and cooling. Staged phase out of HFC refrigerant with stringent timelines is among the regional policies of the most progressive states.
Energy efficiency is a central focus for all the industry including suppliers, specifiers, and end users. This translates into more inverter sales and new features enhancing energy conservation. Although the COVID-19 pandemic had irreparable destructive effects on human societies, it has been able to improve the air quality of most areas with executive restrictions in different countries. Following the Covid 19 pandemic, Indoor Air Quality is a primary concern, especially in commercial specifications. The suppliers, especially in the ventilation segment, are trying to address changing end user requirements. The ‘smart’ trend is far from over. All solutions, from residential to commercial, incorporate an element of automation, which also enhances efficiency.
BSRIA WMI has been carrying out its annual US in-depth air conditioning study, resuming face-to-face interviews with leading companies. The study provides detailed qualitative and quantitative information on the residential and commercial air conditioning markets in the US in 2021. The report includes market analysis, key drivers, competitor analysis, distribution analysis, refrigerant penetration, applications by verticals and forecasts based on the latest market trends which will assist with the planning of your marketing strategy.