HVAC Equipment May Set Epic Growth Story and Global Forecast 2027

HVAC stands for heating, ventilation, and air conditioning, and it is used to control the internal climate of buildings. It also aids in the enhancement of indoor air quality. For heat, air, and forced displacement ventilation, the bulk of these systems are centralised.

The global HVAC equipment market was valued at US$ 135.85 Mn in 2020 and is forecast to reach a value of US$ 135.85 Mn by 2028 at a CAGR of 7.7% between 2021 and 2028,

In the worldwide HVAC equipment market, the development of energy-efficient systems could give attractive potential prospects. According to Coherent Market Insights, space heating and cooling accounts for about 45 percent of household energy expenses, prompting customers to buy HVAC equipment. With governments implementing stronger energy restrictions and manufacturers developing more energy-efficient systems, more consumers are projected to install HVAC systems in the near future. Low-energy-consuming equipment will assist reduce electricity bills while also lowering carbon emissions. Toshiba, for example, has created a new air conditioner that falls into the super heat recovery VRF category and has a SEER rating of 8.

Request For Sample Copy: https://www.coherentmarketinsights.com/insight/request-sample/4026

Market Dynamics- Driver -

Over the forecast period, technological improvements are expected to support the global HVAC equipment market growth. HVAC system manufacturers are concentrating on the development of efficient solutions in order to meet client demands and close the energy supply gap. This, in turn, should assist consumers in lowering their energy expenses and promoting product uptake. For example, LG Corporation developed new commercial air conditioning systems in 2013 that were designed to meet a variety of market demands. Innovative technologies including smart sensor-based HVAC equipment, home automation, multi-functional equipment, and HVAC systems with green refrigerants, among others, are assisting in meeting client needs.

Recent Developments

Haier India will launch a hot and cold 3-star air conditioner in March 2021, with a 1.5-ton cooling capacity and Triple Inverter Plus technology that self-adjusts the temperature and claims up to 65 percent energy savings.

Lennox International launched the Building Better Air programme in October 2020 to improve commercial facilities' indoor air quality (IAQ). This effort combines the company's cutting-edge product range with industry-leading building services to deliver comprehensive indoor air quality solutions for a variety of commercial applications.

As part of the company's Feel The Love campaign, Lennox Industries teamed with HVAC dealers across the United States and Canada in October 2021 to install 130 HVAC units in 37 U.S. states and 5 Canadian provinces.
Major market participants are concentrating on capacity and business expansion in order to stay competitive.

Global Electricity Meters Market: Competitive Landscape   

Major companies operating in the global HVAC equipment market are United Technologies Corporation (Carrier), LG Corporation, Daikin Industries. Ltd., AB Electrolux, Haier Inc., Lennox International Inc., Samsung Electronics, and Panasonic Corporation.

continue :https://www.coherentmarketinsights.com/press-release/hvac-equipment-market-4026