BUSINESS

HVAC Market in NZ, Au, to Reach $3 Billion in 2022

Wednesday 21 September 2016, 8:33PM
By Absolute Air Conditioning & Refrigeration
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AUCKLAND

New Zealand and Australia are some of the largest consumers of heating, ventilation and air conditioning (HVAC) products in the world. This trend is likely to continue as a recent study from Research and Markets predicts a 9% growth in the two countries’ HVAC market in the next few years.

Contributing Factors

The rising demand for heating, ventilation and air conditioning products will contribute to this growth, which, analysts predict, will reach $3 billion in the next six years. Australia is one of the driest regions in the world, while New Zealand has a temperate climate. Fluctuations and extreme changes in weather conditions are important factors in the increasing demand for HVAC products and services.

In addition to natural conditions, the study cites government rules and regulations as major factors that are sustaining the growing market.

“The consumers [have] directly benefited from these regulations as these devices save electrical energy and cut down cost considerably. At present, government initiatives are focused towards launching new construction projects, supporting new installments and promoting HVAC equipments using renewable energy”, it stated.

The rising population also plays a major role in the increasing demand for HVAC products, especially in New Zealand. Research from Trading Economics records population growth of 0.8%, with almost 40% consisting of individuals below the age of 40. This reflects the large number of young and growing families who are the main target market of residential HVAC products and services.

The Constant Need For HVAC

These statistics are proof of the constant need for HVAC in both countries, and there are many companies available to meet this need. At present, there are around 6,000 service providers and manufacturers in Australia alone.  New Zealand has around the same number of businesses.

With the sheer number of HVAC companies available and ready to serve customers, one must take great care in choosing who to hire.

Reliable Services From Absolute Airconditioning And Refrigeration

For those looking for a trusted company to fix and install ventilation systems in Auckland, Absolute Airconditioning and Refrigeration is the name to call. Since their inception in 1989, they have provided heating, ventilation and airconditioning systems in the area. Get in touch with them today.