The global HVAC equipment market is expected to reach $290.8 billion by 2030, with a CAGR of 5.3% from 2021 to 2030. HVAC systems provide heating and cooling for commercial and industrial spaces, ensuring proper ventilation and air quality. Major players in the market, such as Daikin Industries, Ltd., are forming strategic partnerships to expand their reach.
The demand for HVAC equipment is increasing due to factors like urbanization and the push for energy-efficient systems. Governments worldwide are offering incentives to promote the adoption of these technologies. Despite disruptions caused by the COVID-19 pandemic, the reopening of production facilities and vaccine distribution are expected to boost sales in the HVAC equipment market.
Key findings from the report include the dominance of central systems in the market, with new construction projects generating the highest revenue in 2020. The commercial sector is projected to experience the highest growth rate in the coming years. The report profiles key players in the industry and analyzes their strategies for a competitive outlook.
In-depth analysis of current trends and emerging opportunities in the HVAC equipment market is conducted, with estimations made for key segments between 2021 and 2030. Market players like Hitachi Air Conditioning Company and LG Electronics Inc. are highlighted for their contributions to the industry.
For more information on the HVAC equipment market, you can visit the Allied Market Research website and access the full report with detailed findings and insights. Allied Market Research is committed to providing accurate market research reports and business intelligence solutions to help companies make informed decisions and achieve sustainable growth. Their CEO, Pawan Kumar, emphasizes the importance of data accuracy and quality in supporting clients’ success in the market domain.
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