DUBLIN — The global HVAC market is forecast to generate over $68.93 billion in value, at an estimated compound annual growth rate (CAGR) of 4.34 percent, from 2016 to 2022, according to a new report available from Research and Markets.
Rising population, revival in the housing markets, increases in income levels in emerging markets, development of reliable energy resources, and a growing industrial base are some of the key drivers pushing forward the growth of global HVAC market.
While robust demand is anticipated to come from the Americas over the forecast period, Asia-Pacific continues to be the leading revenue generator in the global HVAC market. Split air conditioners are forecasted to remain in high demand for various residential end-use applications.
Government mandates, emerging green/smart building criteria, and growing consumer concerns across the world are pushing global HVAC manufacturers, developers, and system integrators to build and provide energy efficient, technologically advanced HVAC units for major commercial, residential, institutional, and industrial applications.
Besides examining promising aspects for growth, the report also investigates various factors that could inhibit market growth.
More information is available here.
Publication date: 2/22/2016