Global HVAC Systems Market Size By Ventilation Equipment, By Heating Equipment, By Cooling Equipment, By Application, By Geographic Scope and Forecast
HVAC Systems Market Size And Forecast
HVAC Systems Market was valued at USD 10.9 Billion in 2018 and is projected to reach USD 17.1 Billion by 2026, growing at a CAGR of 5.66% from 2019 to 2026.
Global HVAC Systems Market Overview
Heating, Ventilation and Air Conditioning systems, otherwise known as HVAC System are systems wherein the temperature of the environment in which the system is placed can be manipulated according to the users need. The HVAC system functions through the manipulation of temperature through cooling and heating. Some systems can also manipulate the humidity in a certain environment by controlling the movement of air within the area. HVAC systems are also known to be able to purify the air due to their constant air circulation the system is used in various types of building such as commercial, residential, institutional buildings, and industrial.
Increasing demand for the energy-efficient HVAC system, the growing trend of smart homes, and government initiatives coupled with the increasing investment in the Construction industry is fueling the growth of the market over the forecast period. There are several advantages of the HVAC system such as the energy efficiency that the system provides, the efficiency of the system as well as the ease of implementation of the system are driving the market for HVAC systems. Growing urbanization and the emergence of energy-efficient HVAC systems are also uplifting market growth.
Global HVAC Systems Market: Segmentation Analysis
Global HVAC Systems Market is segmented based on Equipment,Heating Equipment,Cooling Equipment, Applications And Geography.
Key Players in HVAC Systems Market
major players in the market are
- Daikin Industries Ltd.
- Ingersoll Rand PLC.
- Johnson Controls, Inc.
- Nortek, Inc.
- United Technologies Corp.
- Electrolux AB
- Dixell- Emerson
- Honeywell International Inc.
- Lennox International Inc.
- LG Electronics
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