HVACR Manufacturers Predict an Improving Economy
AHR Expo survey reveals that 70% of respondents expect the economy to be better in 2013
According to a recent AHR Expo survey sent to more than 1,000 HVACR manufacturers worldwide, 70% of the respondents expect the economy to be better in 2013 than in 2012. In fact, 15% of these manufacturers expect a “much better year,” while 28% percent of respondents expect the economy to remain the same. Just 3% expect it to be worse than 2012.
In keeping with this optimistic outlook, 86% of the HVACR manufacturers surveyed believe sales will increase next year, with 35% percent of these respondents expecting sales increases of more than 10%. Thirty-two percent forecast sales increases between 5% and 10%, and 19% expect increases of less than 5%. Eleven percent believe sales will remain the same, while only 3% expect sales to decrease.
Most respondents (41%) said the residential sector would account for the strongest demand for new products, followed by institutional (30%), industrial (19%), light commercial (7%) and heavy commercial (3%). The industry categories expected to show the strongest growth were renovation/upgrade (42%), new construction (34%) and replacement (24%).
More than two-thirds of the respondents (67%) predicted that the greatest demand for new products would come from domestic markets and 33% from international markets. Of these respondents, 52% said the greatest demand for new products would come from the healthcare segment, 45% from industrial plants, 43% educational marketplace and 42% government/civil.
To meet this demand, 75% of AHR Expo exhibitors said they will be introducing new products or services at the 2013 Show in Dallas, being held Jan. 28 to 30.
Clay Stevens, president of International Exposition Co., which produces and manages the AHR Expo, pointed out that while the percentage of manufacturers who expect the upcoming year to be better has continued to climb in every survey, the percentage expecting the economy to be worse has also been steadily declining.
The 2013 AHR Expo will feature more than 1,800 leading manufacturers and suppliers from around the world, showcasing hundreds of innovative new products to nearly 45,000 industry professionals. The event is co-sponsored by ASHRAE and the Air-Conditioning, Heating and Refrigeration Institute. The Heating, Refrigeration and Air-Conditioning Institute of Canada is an honorary sponsor.