Data Suggests a Strong 2020 Outlook For The HVAC Industry

Everything that is going on in today's world makes it more critical than ever before to ensure you have a comfortable home.

So far, data suggests this is precisely what homeowners are doing. In 2019, manufacturers shipped approximately 8.5 million heat pumps and air conditioners. With nearly 1.3 million new housing projects, over 7 million of these units were replacement installations.

Expect Around Fifteen Years Of Lifespan

Generally, homeowners can expect their AC unit to last around 15 years, and heat pumps to have a somewhat shorter lifespan. In the interest of simplicity, we'll say these components last an average of 15 years.

In 2005, roughly 8.6 million heat pumps and air conditioners got installed by an HVAC company in new and existing homes. Fast forward fifteen years, which means many of these units are reaching the end of life and need replacement.

In 2003 and 2004, approximately 14 million HVAC units got manufactured to meet demand. Anyone who has delayed installing a replacement system is running on borrowed time!

2020 Should Have A Spike In Demand As Older HVAC Units Need Replacement

Data indicates that, without accounting for the impact of the healthcare crisis, 2020 should be on pace for over 9 million HVAC replacements. At the beginning of the new decade, estimates said the replacement market would reach 26 percent. If residential new construction remains consistent this year, despite the disruption to the economy, there should be a demand for 10.4 million unit installations.

Unfortunately, there is no proven way to predict how the healthcare crisis will impact the housing and home improvement markets. Many essential workers and people who were able to work from home barely missed a beat, and stimulus payments from the government provided an unexpected financial boost.

While it might seem insensitive during a time when people are fighting off the potential to become sick, 2020 could prove the best year ever for air conditioning repair Arlington Texas. If your older HVAC unit isn't working as well as it once did, AC Texas LLC is available to help with any needed repairs or replacement units.

For homeowners, this means that demand for HVAC services, including repairs and replacement units, could be on the rise. The sooner that you can speak to a reputable contractor about air conditioning repair Arlington TX, the better.

The last thing that anyone wants to experience is having their old HVAC unit fail them on a day when the heat index hits 90+ degrees! To make sure you don't have to wait things out when the mercury continues to rise, schedule your appointment for an inspection, maintenance, or new HVAC installation services today!

For your convenience, AC Texas LLC offers free, no-obligation estimates on all of their work.