HVAC Industry Analysis - Forecast Period 2023-2027
The HVAC market is predicted to grow at a CAGR of 6.5% during the forecast period 2022-2027 by Technavio data and research experts. This market research report also predicts the statistics about the market size growth that will grow by USD 74.02 billion. There are several key factors that directly influence the HVAC market growth such as growing construction sector, the growing demand for the condensing boilers, and rising demand for the refurbishment and replacement.
The predicted growth momentum seems incremental thus gives a positive outlook for the market as well as its respective investors. Consequently, such market conditions will further reinforce the position of vendors in the market.
Our researchers conclude the statistical predictions about some key market drivers via thorough data and information analysis. One such market driver is a significant growth in the construction sector, and it turns into one of the reasons for the HVAC market growth. Although there are other factors such as lesser availability of skilled labour may affect the market growth negatively.
Additionally, there are some key vendors operating in the market, listed below:
- Arkema Group
- Honeywell International Inc.
- Daikin Industries Ltd.
- Fujitsu General Ltd.
- Emerson Electric Co.
- Gree Electric
- Danfoss AS
- Haier Smart Home Co. Ltd.
The HVAC market analysis is illustrated in the given statistic report. However, you can also avail the subscription to cutting-edge market intelligence and lifetime access to 17,000+ market reports. So, don’t miss out on the latest market updates and upcoming trends analysis.