Industry revenue for the global HVAC industry is forecast to reach an estimated $95 billion in 2018, according to “Global HVAC Equipment Industry 2013-2018: Trend, Profit, and Forecast Analysis,” a market research report released by Lucintel. The study revealed that Asia Pacific is dominating demand and commercial HVAC equipment is a major segment of the industry, accounting for more than 50 percent of the market share.
The report cites increasing construction activities as the main industry growth driver. 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 also supports the growth of HVAC equipment sales.