Australia and New Zealand HVAC Market Growing Due to Stringent Government Regulations

Witnessing a rise from the official 2011 census (21.5 million), the estimated population of Australia in 2019 is 25.3 million. Similarly, in New Zealand, the population reached 4.92 million in 2019, as per government sources. This increase in population is creating the need for more housing as well as commercial projects in these countries.

Get Sample With Technical Innovation : https://www.psmarketresearch.com/market-analysis/australia-and-new-zealand-hvac-market/report-sample

HVAC systems are deployed in industrial, residential, and commercial settings. In 2018, these systems were most heavily deployed in the commercial sector.

The major reasons behind this were the economic prosperity and rapid urbanization in the region, which, in turn, led to an increase in the construction of hospitals, malls, office buildings, and hotels, all of which require HVAC systems.

Further, the development of special economic zones, corporate hubs, and organized retail outlets added to the demand for HVAC systems in commercial spaces. Owing to the abovementioned reasons, the demand for these systems would continue to grow in commercial spaces in the coming years.

In terms of end-user, the Australia and New Zealand HVAC market is divided into residential, commercial, and industrial users. Out of these, the commercial division dominated the market during the historical period due to the rise in the construction of commercial buildings, such as hospitals, malls, and hotels.

Read Summary of Report Here :: https://www.psmarketresearch.com/market-analysis/australia-and-new-zealand-hvac-market

During the forecast period, the industrial division is predicted to witness the highest CAGR as the demand for HVAC systems in the food & beverage industry is high.

The stringent government regulations are also among the major driving factors of the Australia and New Zealand HVAC market. The Australian government is focusing on reducing greenhouse gas emissions by 5.0% by 2020 and 26.0-28.0% by 2030.

The designing of NZEBs is expected to drive the requirement for energy-efficient HVAC systems. Moreover, Australia is planning to cut down hydrofluorocarbon bulk imports by 25.0% in 2019, making HVAC manufacturers inclined toward new refrigerants.

A key trend in the Australia and New Zealand HVAC market is the growing adoption of district cooling systems. Chillers, a type of HVAC systems, are used to absorb heat from water for cooling industrial units, factories, and buildings.

Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=australia-and-new-zealand-hvac-market

District cooling systems allow centralized cooling for central business district buildings, where they are connected to buildings in a district through pipes, which supply cooled air and chilled water. The primary aim of using these systems is to reduce carbon emission and energy demand.

Thus, the stringent government regulations and rising number of residential and commercial projects are contributing to the growth of the market.

Contact:

P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.