Industry News

Equipment Providers Expand Offerings to Capitalize on Shifting Consumer Preferences

Capstone Partners released its April heating, ventilation, air conditioning and refrigeration equipment update. It reports that consumer preferences continue to shift toward energy-efficient equipment and products that improve indoor air quality, driving upgrade, installation and retrofit demand.

While sector participants continue to grapple with low inventory and materials availability, the presence of healthy backlogs points to a continued environment of elevated demand that is outpacing supply.

Energy efficiency has become a primary driver of retrofit and upgrade demand in the HVACR equipment sector as consumers and building owners demonstrate a strong preference for sustainable systems amid mounting environmental concerns. The providers have invested significant resources into the development of energy-efficient products to meet rising demand.

In addition to organic development, large HVACR players have consolidated companies to bring differentiated capabilities in-house. This has presented opportunities for smaller manufacturers with technology-enabled systems. Manufacturers offering equipment that monitors and minimizes the energy use of HVACR systems, including controls and sensors, are expected to capture elevated demand and acquirer interest.

In addition to a heightened focus placed on energy efficiency, consumers now possess a renewed interest in IAQ as a result of COVID-19. With the pandemic bringing attention to antiquated systems, home and building owners continue to look for products that improve air quality for occupants.

HVAC equipment providers are responding to this shift in demand with greater IAQ transparency. As employers look to execute return to work plans, IAQ will be a critical factor to ensure occupants’ comfort, health and safety.

To access the full report, click here.

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