Press release
HVAC Market Valued at $ 138 Billion in 2016: TechSci Research
Rising construction activities in both commercial and residential sectors, shift towards green technology, and increasing awareness about the benefits of HVAC are expected to drive the global HVAC market through 2022According to a recently released TechSci Research report, “Global HVAC Market By Product Type, By End Use Sector, By Region, Competition Forecast & Opportunities, 2012–2022”, the global HVAC market stood at an estimated $ 138 billion in 2016. The market is expected to witness tremendous growth on account of rising construction activities across developed as well as developing economies coupled with increasing adoption of energy efficient HVAC systems across residential and commercial end user segments. Moreover, other factors like extreme climatic conditions and growing replacement demand for HVAC systems are further expected to drive the global HVAC systems market through 2022.
Browse 185 market data Figures and Tables spread through 225 Pages and an in-depth TOC on "Global HVAC Market"
https://www.techsciresearch.com/report/global-hvac-market-by-product-type-direct-expansion-systems-and-central-air-conditioning-systems-by-end-use-sector-residential-commercial-real-estate-institutional-marine-offshore-oil-gas-power-and-others-competition-forecast-opportunities/1222.html
On the basis of product type, the global HVAC market is broadly segmented into direct expansion systems and central air conditioning systems. Direct expansion systems dominated the global HVAC market due to several benefits associated with them like energy efficiency and lower running cost. A large demand for HVAC systems emanates from the residential sector on account of the increasing purchasing power of the middle-income consumers, globally. Also, rising construction activities in the residential sector are further adding on to the demand for HVAC systems. In terms of region, APAC and North America are the leading regions in the global HVAC market with a cumulative share standing at over two-thirds of the entire global market in 2016. These regions are anticipated to account for a significant demand share during the forecast period as well, on account of rising purchasing power of consumers, growing urbanization and increasing construction activities in the regions.
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Daikin, UTC and Gree are some of the leading players operating in the global HVAC market These players are expected to remain in prominence as they are increasing focusing on offering HVAC systems that are greener and are specifically designed for use in smart city projects, globally. “Construction activities are increasing at a rapid pace across the globe. According to Construction Intelligence Center, the construction output stood at around $ 9.60 trillion in 2015, which is expected to reach around $ 12 trillion by 2020. Moreover, with strict policies by the government to increase energy efficiency, demand for energy efficient HVAC systems is likely to increase over the course of next five years. All of these developments coupled with rapid urbanization being witnessed across the globe would positively influence the global HVAC systems market through 2022”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global HVAC Market By Product Type, By End Use Sector, By Region, Competition Forecast & Opportunities, 2012–2022” has evaluated the future growth potential of HVAC systems market and provides statistics and information on market structure, size, share and trends. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global HVAC market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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