United States

HVAC Market Set to Experience Steady Growth at CAGR of 5.5% Due to Rising Demand for Energy-Efficient Systems and Technological Advancements

NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — Research firm IndexBox has published a new report on the global HVAC market, providing detailed analysis, forecasts, and insights into the industry. The report, which can be accessed on the IndexBox website via this link https://www.indexbox.io/store/world-hvac-equipment-market-analysis-forecast-size-trends-and-insights/, offers trial access to the platform’s market data to interested parties.

The report includes market forecasts until 2030, with a comprehensive analysis of the factors driving and limiting growth in the industry. Key growth drivers include rising demand for energy-efficient systems, increasing construction activities, and technological advancements. However, the industry also faces challenges such as high installation and maintenance costs, environmental concerns, and market saturation.

The report also provides an overview of the major industries consuming HVAC equipment, including residential, commercial, and industrial sectors. The major consuming industries affect the demand for HVAC equipment, and the report explores the key factors driving demand in each sector.

The residential HVAC segment is driven by the growing demand for energy-efficient and eco-friendly systems, which has led to the development of smart and connected home systems. The segment is also driven by increasing home construction and renovation activities. The commercial HVAC segment, on the other hand, is driven by the growth in the construction and retail sectors. The use of HVAC systems in commercial buildings is necessary to maintain indoor air quality and comfortable temperature levels, making the segment a key driver of the industry’s growth.

In the industrial HVAC segment, there is a growing demand for process cooling and heating systems in industries such as food processing, pharmaceuticals, and chemicals. The use of HVAC systems in these industries is essential to maintain specific temperature and humidity levels, ensuring product quality and safety.

The global HVAC market is highly competitive and is divided into several regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is the largest market for HVAC systems, with the United States being the primary contributor to the region’s growth. The growth of the market in the region is due to the increasing demand for energy-efficient systems, technological advancements, and stringent regulations on energy consumption.

In Europe, the market is driven by the rising demand for air conditioning systems in residential and commercial buildings. The Asia-Pacific region is the fastest-growing market for HVAC systems, driven by the growth in the construction industry and the rising demand for energy-efficient systems. The market in South America and the Middle East and Africa is also expected to experience significant growth due to increasing investments in infrastructure development and industrialization.

The report also highlights the major manufacturers in the industry, including Carrier Corporation, Daikin Industries Ltd., and Lennox International Inc.

According to Aleksandr Romanenko, CEO of IndexBox, “Our report on the global HVAC market provides a comprehensive analysis of the industry, including its growth prospects, major drivers and challenges, and key players. We believe this report will be a valuable resource for anyone interested in this important sector.”

For more information or to purchase the report, please visit https://www.indexbox.io/store/world-hvac-equipment-market-analysis-forecast-size-trends-and-insights/

Keywords: HVAC market, global, forecasts, growth drivers, challenges.

CONTACT: contact Mekhrona Dzhuraeva, Editor, at media@indexbox.io.

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