HVAC Insulation Market Worth $5.29 Billion by 2021
Driven by rising growth of the construction industry coupled with increasing demand for HVAC systems
PUNE, India — The global HVAC insulation market is forecast to grow from $3.30 billion in 2015 to $5.29 billion by 2021, increasing at a compound annual growth rate (CAGR) of 8.20 percent, according to a new report published by MarketsandMarkets.
The market is being driven by the rising growth of the construction industry coupled with increasing demand for HVAC systems in developed and developing countries. The Middle East & Africa region is estimated to witness high growth during the forecast period of 2016 to 2021, whereas North America, Western Europe, and Asia-Pacific are expected to grow at a steady pace. The demand in the Middle East & Africa region is strengthened by the emerging markets, namely, the United Arab Emirates (UAE) and Saudi Arabia.