International.
The global HVAC market is projected to generate more than $68.93 billion in value, at an estimated compound annual growth rate (CAGR) of 4.34%, from 2016 to 2022, according to a new Research and Markets report.
Increasing population, revival of housing markets, rising income levels in emerging markets, development of reliable energy resources, and a growing industrial base are some of the key factors pushing forward the growth of the global HVAC market.
While robust demand is anticipated to come from the Americas during the forecast period, Asia-Pacific remains the most important revenue generator in the global HVAC market. Split-type systems are anticipated to remain in high demand for various end-user residential applications.
Government provisions, emerging green/smart building criteria, and growing consumer concerns around the world are putting pressure on HVAC manufacturers, developers, and system integrators to build and provide energy-efficient, technologically advanced HVAC units for large commercial, residential, institutional, and industrial applications.
