The Global HVAC Equipment Market Is Expected To Exhibit A Cagr Of 7.7 % Over The Forecast Period (2021-2028).

HVAC Equipment

 

HVAC equipment is a type of indoor and vehicular environment comfort technology that provides thermal comfort and adequate indoor air quality. Apartment buildings, senior living facilities, hostels, single-family homes, medium to large industrial buildings, hospitals, skyscrapers, aeroplanes, trains, cars, submarines, and ships all have HVAC systems. Heating equipment provides a cost-effective way to provide the necessary heating environment. The HVAC industry aspires to provide cost-effective equipment that meets industrial and commercial customers' energy needs while also meeting green technology/process requirements. Chlorofluorocarbons, hydro chlorofluorocarbons (CFCs and HCFCs), and other harmful refrigerant-based equipment are being phased out by HVAC manufacturers.

 

The global HVAC Equipment Market is estimated to be valued at us$ 145.09 billion in 2021 and is expected to exhibit a cagr of 7.7 % over the forecast period (2021-2028).

 

Because air filtration, airflow, and humidity are all three critical components in minimising the risk, the demand for environmental control increased dramatically during the COVID-19 crisis. As a result, shutting down an HVAC system during a crisis is not a good idea. Filtration is a critical component of ensuring indoor air quality (IAQ), because if a virus is captured in the filtration system, it cannot cause illness inside the building.

 

The rise in urbanisation is due to increased demand for residential and commercial infrastructure. The HVAC equipment market will be driven by the growing demand in the construction industry. The increase in population in various regions, such as Asia-Pacific and North America, will lead to the development of residential buildings, which will be a major driver for the HVAC equipment market. Changes in atmospheric conditions, technological advancements, and the replacement of ageing equipment are among the other drivers.

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