HVAC Equipment Market to Exceed $125 Billion by 2022
The market for HVAC equipment is highly mature and is expected to exhibit modest growth
SAN JOSE, Calif. — The global HVAC equipment market is expected to expand at a compound annual growth rate (CAGR) of 5.6 percent from 2015 to 2022, exceeding $125 billion by 2022, according to a new market report published by Credence Research Inc.
The market for HVAC equipment is highly mature and is expected to exhibit modest growth over the forecast period. This growth is primarily supported by improved residential construction expenditures across the globe and stringent government regulations promoting the use of energy-efficient HVAC solutions.