According to the 2017 HVAC equipment market report, the global HVAC equipment market to grow at a compound annual growth rate (CAGR) of 4.9 percent during the period 2017-2021. The latest trend gaining momentum in the HVAC equipment market is rise in incorporation of building automation systems (BAS).

The overall value of the global HVAC equipment market was at $91.3 billion in 2013, according to a report by Transparency Market Research. Rising at a positive compound annual growth rate (CAGR) of 6.2 percent between 2014 and 2022, the market is anticipated to reach $155.1 billion by the end of the forecast period.

Global demand for HVAC equipment is forecast to increase at a 4.1 percent yearly rate through 2020 to $122 billion, according to a new study from The Freedonia Group, a Cleveland-based industry research firm.

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.

Analysis from Frost & Sullivan finds that the global HVAC equipment market earned revenues of $80.67 billion in 2014 and estimates this to reach $108.93 billion in 2020, despite the market’s maturity. The study covers unitary equipment, applied equipment, chillers, heat pumps, and ductless systems.

The market for HVAC equipment globally is forecast to reach $155.1 billion by 2022, according to a new report published by Transparency Market Research. The demand for all types of HVAC equipment is expected to increase through 2022; however, sales of heat pumps and room air conditioners are expected to dominate through the forecast period.