The HVAC market is projected to grow at a rate of 4.7% by 2025 owing to the growing infrastructure developments, technological advancements, and extreme climatic conditions than ‘before and rising disposable income of the consumers. Refrigeration is considered to be the major segment as the demand for food and food related industries is surging up.
Growth in disposable income in Asian market, particularly in China and India has contributed to the high growth rate of HVAC market in this region. Europe and North America follow suit for the HVAC demand. Also additional demand is expected as older HVAC equipment will be inefficient and will find need to be replaced with the new HVAC systems complying with strict norms in majority part of the globe.
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This report forecasts and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2025. For the purpose of this study, Reports and Data have segmented the global HVAC System market on the basis of Heating, Ventilation, Cooling, end use, and region