HVACR community forecasts positive economic outlook for 2020
November 26, 2019
According to the latest AHR Expo and ASHRAE Economic Outlook Survey, most members of the heating, ventilation, air-conditioning and refrigeration (HVACR) community feel positive about their business heading into 2020.
The results of the survey—which was distributed to past and prospective AHR Expo attendees, as well as manufacturers—show 79% of respondents predicted good or excellent sales prospects. The highest business growth potential was identified in maintenance and replacement jobs, followed by retrofits and renovations.
Additionally, respondents expected growth in nearly all areas of the industry, with light commercial, health-care and residential markets identified as having the highest potential in 2020 at 72%, 67% and 64%, respectively.
“Considerations such as the global market, changing customer demands and new innovations are shaping product designs and the way we approach the built environment,” says Mark Stevens, the expo’s manager.
For the first time, the 2020 report also includes input on trends, issues and opportunities, as outlined by representatives from industry associations in their respective areas of expertise.
For the full report as a PDF file, click here.