The global HVAC system market size is projected to reach USD 191.83 billion by 2027, exhibiting a CAGR of 5.0% during the forecast period. Increasing indoor air pollution worldwide will emerge as a major factor propelling the adoption of HVAC systems, finds Fortune Business Insights™ in its report, titled “Heating, Ventilation, and Cooling (HVAC) System Market Size, Share & COVID-19 Impact Analysis, By Type (Single Split Systems, Variable Refrigerant Flow (VRF) Systems, Chillers and Others), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2020-2027”. Indoor air quality in enclosed structures such as schools, homes, and commercial spaces is hampered by the presence of different pollutants such as volatile organic compounds and carbon monoxide. The US Environmental Protection Agency estimates that concentrations of pollutants indoors are 2 to 5 times higher than outdoors. In many countries around the world, inefficient cooking practices are the primary for indoor household pollution. According to the World Health Organization (WHO), around 4 million people die prematurely from illnesses, such as lung cancer and ischemic heart disease, developed due to household pollutants. Heating, ventilation, and cooling systems provide an optimal solution to this problem as these systems can mechanically pulls outdoor air into the home and purifies the indoor air, removing pollutants in an efficient manner.
Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/heating-ventilation-and-cooling-hvac-system-market-102664
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
List of Top Companies Covered in the HVAC System Market Report:
- Panasonic Corporation
- LG Electronics
- Lennox International Inc.
- GREE ELECTRIC APPLIANCES, INC.
- Mitsubishi Electric Corporation
- Johnson Controls
- Haier Inc.
- Schneider Electric
- Carrier Corporation
- DAIKIN INDUSTRIES, Ltd.
Growing Emphasis on Smart Energy Management in Urban Areas to Fuel the Market
Urban agglomerations are one of the main contributors to pollution across the globe. The UN Habitat, in a study in 2017, found that urban areas are responsible for nearly 50% to 60% of the global greenhouse gas emissions. In light of this fact, many governments have undertaken novel initiatives to make urban spaces for sustainable through efficient energy management techniques and equipment. For instance, the Indian government launched the Smart Cities Mission in 2015 with a view to establish energy-efficient infrastructure in urban spaces and promote green technologies in the construction industry. HVAC systems will play an instrumental role in minimizing the carbon footprint of urban sprawls, reducing pollution levels, and achieving far-reaching sustainability targets. Together, these factors are likely to fuel the heating, ventilation, and cooling system market growth in the near future.
Asia-Pacific to Establish Commanding Hold on Market Share; North America to Display Healthy Growth
With a market size of USD 60.62 billion in 2018, Asia-Pacific is predicted to dominate the HVAC system market share during the forecast period, primarily as a result of increasing disposable income in the region. Higher purchasing power is enabling households and businesses in the region to demand advanced heating, ventilation, and cooling units, which bodes well for the market. On the other hand, North America is expected to present lucrative sales opportunities owing to the region’s rapidly expanding residential sector. In Europe, sudden rise in demand for HVAC systems as a means to combat the worsening effects of global warming is propelling the market.
Purchase Full Report for Exclusive HVAC System Market Report Growth Forecast – https://www.fortunebusinessinsights.com/heating-ventilation-and-cooling-hvac-system-market-102664
Other Exclusive Reports:
Workforce Management Market Opportunities, Share Analysis Up To 2026
Elevator and Escalator Market Size Research Analysis 2021 Comprehensive Insights of Manufacturers, Global Opportunities, Business Updates by Share, Growth Factors till 2026
Milling Machine Market Growing Business Factors 2021: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2026
Commercial Refrigeration Equipment Market Size Research Analysis 2021 Comprehensive Insights of Manufacturers, Global Opportunities, Business Updates by Share, Growth Factors till 2026
Radar Sensor Market Growing Business Factors 2021: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2026
Mobile Crane Market Growing Business Factors 2021: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2026
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]