Heating, Cooling and Ventilation Equipment Manufacturing in New Zealand - Industry Market Research Report

Heating, Cooling and Ventilation Equipment Manufacturing in New Zealand - Industry Market Research Report

Heating, Cooling and Ventilation Equipment Manufacturing in New Zealand

Firms in the Heating, Cooling and Ventilation Equipment Manufacturing industry have struggled with depressed demand and production shutdowns caused by the COVID-19 pandemic. Increased import competition has also threatened manufacturers' performance, especially as imported substitutes from Asia have put pressure on domestic manufacturers to lower their prices. Imported products tend to have a wider product range, offering clients greater choices to suit their specific needs. Overall, industry revenue has declined by an annualised 5.9% over the past five years, to total $221.3 million. This trend includes a decline of 8.7% in 2022-23, as rising inflation and interest rates caused demand from construction and hospitality businesses to fall.

Industry operators primarily manufacture commercial and industrial HVAC (heating, ventilation and air conditioning equipment), including installed space heaters, refrigerated display counter products or vending machines, and specialised parts and components for industry goods. Firms that produce household or automotive air conditioning and refrigeration products are excluded from the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.