Global HVAC Equipment Market to Cross USD 120.6 Bn by 2022, Predicts Lucintel in Its New Study Recently Uploaded at MarketPublishers.com21 Apr 2017 • by Natalie Aster
LONDON – The future of the world’s market for heating, ventilation and air conditioning (HVAC) equipment looks good with emerging lucrative opportunities in the commercial and residential construction sectors. This market is set to increase at a 4.9% CAGR between 2017 and 2022, to cross USD 120.6 billion by the end of the forecast period. The key growth drivers of the HVAC equipment market include rising disposable incomes, changing climate conditions and also remarkable uptake in the construction sector across the developing economies.
The room AC segment is anticipated to exhibit above average growth through 2022, majorly owing to expanding urbanization and rising disposable incomes in emerging countries like India and China.
Within the worldwide HVAC equipment market, the residential sector is predicted to remain the major application sector in the years ahead. Robust growth in this sector will likely be spurred by enhancing penetration of air conditioners along with steady increase in the construction market.
Lucintel’s new research publication “Growth Opportunities in the Global HVAC Equipment Market” offers an extensive analysis of the global market for various HVAC equipment. It discloses important industry performance estimates, covers the prevailing development trends in detail, examines the scenario across the major product categories and key geographical markets, scrutinizes the market dynamics with info on the major influencing factors. The study highlights the recent innovations and product developments, identifies new growth opportunities emerging in the marketplace, discusses the main challenges. In addition, a future outlook through 2022 is provided in the study.
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