Apart from the rising population, another factor contributing significantly the increased demand for HVAC systems across the countries is climate change. Due to increasing extremity in climatic conditions, several customers in the two countries are installing HVAC systems. A high demand is also registered by end-use segments such as food and beverage industry where incorporation of HVAC systems has increased with the increasing efforts by local legislators toward building an efficient food cold supply chain. Increasing construction activities specifically in the mid-tier building sector across both Australia and New Zealand act as a factor responsible for the increase in HVAC demand. There is a considerable increase in demand for smart homes across Australia and New Zealand and this in turn has led to an increasing demand for HVAC systems across the countries.
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Technologies such as IoT, automated control systems and remote-control access are expected to transform the HVAC industry in the two countries in the coming years. Automated control systems works by detecting the surrounding climate and then controlling the temperature to provide optimum comfort. Remote control access will help users to operate HVAC systems through mobile applications with the help of internet. IoT-enabled HVAC units will be helpful in attaining real-time information about the condition of the systems to users and manufacturers, helping them anticipate defects and reduce maintenance costs. Apart from the opportunity of technological incorporation there are certain other factors which are responsible for surging the sales of HVAC systems as well as for restraining growth.
HVAC industry is one of the major contributors for the Australian economy. Industries such as agriculture, telecommunications and health sectors are the largest end users of HVAC systems. The air conditioning solutions have also penetrated across residential sector in the country owing to a rising demand for products such as window and portable air conditioners. The consumers in Australia are fairly price conscious which had restrained the market initially. However, the manufacturers had immediately devised a strategy of renting HVAC services which has contributed in exposing the overall HVAC systems to all the end-user segments such as residential, commercial and industrial.
Climate of Australia is generally hot and humid in summers and pleasant in winters. Due to this, the country experiences a huge demand for both window and portable air conditioners, especially in the period December-March. The highest demand for air conditioners is reported by the residential sector owing to proven efficiency of both window and portable air conditioners in cooling an intended spot.
As the mid-tier buildings in Australia undergo maintenance to become energy efficient, the demand for packaged air conditioners is rising in the country with either the whole system or some component of it getting replaced in the Australian mid-tier buildings which cover an approximate of XX% out of the total buildings in the country.
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In New Zealand, increasing commercial construction projects, entry of key players and strong educational and residential sector growth are some of the factors supporting the growth of HVAC industry in the country. The country is well-equipped with modern technologies and the demand for consumer electronics, increase in manufacturing of HVAC equipment and numerous other factors are also supporting the growth in the HVAC industry.
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