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Construction Sector Offering HVAC Market Immense Growth Opportunities

<br>Increasing focus toward the adoption of environment-friendly refrigerants, and overall growth in the construction sector are driving the progress of the heating, ventilation, and air conditioning market across the globe.

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Construction Sector Offering HVAC Market Immense Growth Opportunities

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  1. Research Methodology & Scope of Work HVAC Market Feb 26th, 2020 © P&S Intelligence. All rights reserved 1

  2. The heating, ventilation, and air conditioning (HVAC) market is being driven by increasing government initiatives for the adoption of such equipment and the expanding construction industry across the world. The market, which valued at $108.1 billion in 2018, is projected to progress to $136.5 billion in 2024, at a 3.9% CAGR during the forecast period (2019–2024). HVAC systems provide cooling, ventilation, and heating, either individually or as all-in-one equipment. Ventilation, cooling, and air conditioning are the three market categories under the by HVAC type segment. In 2018, the market was dominated by cooling systems, in terms of sales volume as well as revenue, owing to the rising global temperatures and increasing disposable income, both of which pushed AC sales. This category is also predicted to observe the highest value and sales volume CAGRs in the HVAC market during the forecast period. Based on end user, the market is divided into industrial, residential, and commercial users. Among these, the commercial division led the market during the historical period (2014–2018), due to the increase in the number of offices, hotel, and other commercial buildings across the world. Large-scale events, such as FIFA World Cup 2022 in Qatar, World Expo 2020 in U.A.E., and FIFA World Cup 2026 in the U.S., Canada, and Mexico, are resulting in increasing commercial property construction activities in the host countries. The expanding construction sector is one of the most significant factors driving the HVAC market growth. By 2024 end, the worth of the global construction sector or predicted to be $13.5 trillion, compared to approximately $11 trillion in 2017. The most rapid growth in the domain is being seen in China, India, the U.A.E., the U.S., Qatar, and Saudi Arabia, where an increasing number of hotels, shopping malls, and mix-use skyscrapers are being built. This is a direct result of the rising tourism activities and resident population. Request Sample Copy of Report: https://www.psmarketresearch.com/market-analysis/hvac- market/report-sample Additionally, the governments in various nations are taking initiatives to support HVAC equipment installation. With the increasing concerns on climate change as a result of fossil fuel burning, to produce electricity among other purposes, the demand for energy-efficient appliances, including HVAC systems, is growing. Further, compressor gas composed of chlorofluorocarbons (CFC) also emits pollutants in the environment, which is why governments are promoting non-CFC cooling technologies, thereby driving the HVAC market growth, by helping increase the equipment replacement rate. © P&S Intelligence. All rights reserved 2

  3. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 © P&S Intelligence. All rights reserved 3

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