openPR Logo
Press release

HVAC Market Drivers, Restraints, Opportunities, and Trends in Coming Years

12-24-2021 11:39 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

HVAC Market Drivers, Restraints, Opportunities, and Trends

Factors such as the growing construction sector, increasing government initiatives to support the installation of heating, ventilation, and air conditioning (HVAC) systems, surging demand for energy-efficient systems, and rising global surface temperature are expected to drive the growth of the HVAC market at a 4.8% CAGR during the forecast period (2020–2030). With this growth rate, the market size will increase from $240.8 billion in 2019 to $358.1 billion by 2030.

Get the Free Sample Copy: https://www.psmarketresearch.com/market-analysis/hvac-market/report-sample

One of the prime factors propelling the HVAC market is the growth in the construction sector. As per the World Bank, the industry will witness a year-on-year growth of 4.2% during 2018–2023. This would be due to the expanding tourism industry and major upcoming events, such as the FIFA World Cup 2022. Moreover, the increasing investment in construction projects, such as residential and commercial units, malls, and industrial complexes, in countries including India, China, the U.S., Saudi Arabia, the U.A.E., and Qatar will strengthen the demand for HVAC systems.

Moreover, the rising government initiatives to support the installation of HVAC systems is a key driving factor that boosts the HVAC market. These initiatives help in improving the knowledge of customers about new, energy-efficient systems, to replace the old ones, as the maintenance cost of old HVAC systems is high. For instance, the Ministry of Power (India) launched the Energy Conservation Building Code for Residential Buildings (ECBC-R) initiative in December 2018. It applies to buildings set on an area of more than 500 m2 and comprises the minimum performance standards to limit heat gain and loss.

Make Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=hvac-market

Geographically, Asia-Pacific (APAC) held the largest share in the HVAC market in 2019, and the regional market is also projected to observe the fastest growth in coming years. This is due to the rapid economic growth, growing urban population, rising local manufacturing of HVAC systems, and surging construction activities. For instance, the Indian urban population increased to 34.4% of the total in 2019 from 27.8% in 2011, according to the World Bank data. Additionally, with the rising disposable income of the people, the demand for air conditioning units and refrigerators is increasing.

Thus, the growing construction industry and increasing initiatives to support the installation of energy-efficient systems are expected to propel the demand HVAC equipment during the forecast period.

Contact Us:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About Us:
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.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release HVAC Market Drivers, Restraints, Opportunities, and Trends in Coming Years here

News-ID: 2510386 • Views: 134

More Releases from P&S Intelligence

AR and VR Market Drivers, Restraints, Opportunities, and Trends in Coming Years
The augmented reality (AR) and virtual reality (VR) market is expected to witness a strong CAGR, of 42.9%, during the forecast period (2020–2030), owing to the soaring focus of vendors on price reduction, growing penetration of tablet computers and smartphones, and surging adoption of AR and VR technologies in the healthcare, gaming, tourism, education, and entertainment industries. According to P&S Intelligence, the market was valued at $37.0 billion in 2019
RF Transceiver Market Drivers, Restraints, Opportunities, and Trends in Coming Y …
The major factors responsible for the growth of the radiofrequency (RF) transceiver market are the increasing demand for smartphones and rising penetration of the internet of things (IoT) technology. Due to this, the revenue generated by the market players, which stood at $3,892.1 million in 2019, is projected to grow at a 0.8% CAGR during 2020–2030 (forecast period), to reach $3,384.5 million by 2030. The RF transceiver is an important
U.A.E HVAC Market Recent Trends, Developments, Challenges and Opportunities
A surge in construction activities in the transportation sector of the U.A.E. has led to the widescale adoption of heating, air conditioning, and ventilating (HVAC) systems in the country. The gulf country is spending hefty amounts on the construction of airports and expansion of railway infrastructure. These new facilities adopt HVAC equipment to offer better amenities. For example, the U.A.E. government launched "Route 2020" in 2018, to extend the Red
Personal Robots Market Technological Advancements, Evolving Industry Trends and …
The global personal robots market generated a revenue of $21.5 billion in 2019 and it is predicted to progress at a CAGR of 7.8% between 2020 and 2030. Furthermore, the market will reach a valuation of $51.5 billion by 2030. The main factors driving the advancement of the market are the growing usage of security robots and domestic cleaning robots, the burgeoning requirement for home automation, and the rising public

All 5 Releases


More Releases for HVAC

HVAC COMPANIES IN NIGERIA
AKPO OYEGWA REFRIGERATION COMPANY Whether your project is a new build or you are updating an existing building. AKPO OYEGWA REFRIGERATION COMPANY is a full service commercial and industrial HVAC mechanical service contractor with office in Lagos State, Nigeria. With in-depth industry relevant experience AKPO OYEGWA REFRIGERATION COMPANY mechanical services team specialises in offering custom solutions and installations of both commercial and industrial HVAC systems. As an expert full service HVAC contractor
Global HVAC System Market Outlook To 2026
Global HVAC System Market Outlook To 2026: In-Depth Market Overview, Key Product (Ventilation, Cooling, Heating), End-Use (Residential, Commercial, Industrial), Regional Segmentation, Pricing Analysis, Pipeline Analysis, Competitive Dynamics, M&A Insights, Segment Forecast And Conclusion The global HVAC System Market was valued at $125.22 Billion in 2018 and is forecast to grow at a modest 6.3 % CAGR between 2018 and 2026, culminating in 2026 global sales of $235.58 Billion. HVAC System is
Mega Clima Kenya HVAC Expo 2019
MEGA CLIMA is in KENYA now after its success in Nigeria, Algeria and Iraq: Megaclima East Africa! New Gateway for Cooling with AFRICA! MEGA CLIMA EAST AFRICA is HVAC+R industry exhibition which will be organized by Elan Expo will take place on 27-29 August 2019 at Kenyatta International Convention Centre at Nairobi, Kenya. EAST AFRICA – ONE OF THE LARGEST COMMERCIAL MARKETS East Africa is one of the largest commercial markets for refrigeration and
HVAC Centrifugal Compressors Market
The newly released research at Market Study Report titled “2017-2024 Global HVAC Centrifugal Compressors Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years. HVAC Centrifugal Compressors Market is estimated to exceed USD 1 billion by 2024; according to a new research report. Chillers application is expected to value over USD 700 million by 2024. Hotels, shopping malls, commercial offices and hospitals are
Automotive HVAC Technology Market 2018 by Type(Manual HVAC Systems, Automatic HV …
Automotive HVAC Technology MARKET The market research report on the Global Automotive HVAC Technology Market presents an in-depth information about the various aspects of the market, on both global and regional scales, which provides a better understanding of the present market landscape. The growth of the Automotive HVAC Technology market has been driven by the soaring demand for Automotive HVAC Technology in the well-established and emerging regions, current technological advancements, and the
HVAC Company offers Quality HVAC Services in Tulsa, Ok
Tulsa, Ok – SEPTEMBER 13, 2018–Finding the right HVAC services can be difficult for anyone. You want to hire a company that is qualified and will complete the job right the first time. The company that you are looking for needs, to be honest, and trustworthy as well. They are, after all, coming to your home. Wortman Central Air in Tulsa Oklahoma is the diverse, qualified and