April 29, 2013: Growth Forecasted for Global HVAC Equipment Industry
Lucintel has conducted a competitive analysis of the industry and presents its findings in “Global HVAC Equipment Industry 2013-2018: Trend, Profit, and Forecast Analysis.” Asia Pacific is the biggest global market, standing at 42 percent. Commercial HVAC equipment brings in the majority of industry revenue, contributing 51 percent.
The study highlights HVAC industry growth drivers. Increasing construction activities are mainly responsible for driving growth in the industry. Global sales of homes and new buildings have increased, favoring the industry as sales of HVAC equipment is highly correlated to the construction of new homes and buildings. Availability of easy financing supports the growth of HVAC equipment sales. Residential HVAC equipment is the key growth segment now, says the report, driven by increasing residential construction and product penetration.
Publication date: 4/29/2013