Market Research News Federation Board

Heating equipment, such as furnaces, unitary heaters, boilers, and heat pumps, and air conditioning equipment, such as chillers, room ACs, ducted split/packaged units, and variable refrigerant flow (VRF) systems, are being installed in residential, commercial, and industrial facilities across the world. Additionally, end-users are installing humidifiers/dehumidifiers, ventilation fans, air cleaners, and air handling and fan coil units for ventilation purposes. In recent years, commercial structures have emerged as the largest user of such equipment due to the flourishing hospitality sector and soaring number of buildings and offices worldwide. In recent years, HVAC equipment and service companies have been increasingly engaging in research and development (R&D) to offer more advanced HVAC systems. HVAC Market Size , Status, Top Players, Trends in Upcoming Years For instance, in November 2019, Danfoss A/S introduced six new refrigeration and AC components and systems for India. The ...

Governments of many countries are undertaking initiatives to encourage the replacement of old heating, ventilation, and air conditioning (HVAC) systems with new, energy-efficient systems because unrepaired and worn-out equipment has huge repair and maintenance costs. For example, the Ministry of Power, India, launched an Energy Conservation Building Code for Residential Buildings (ECBC-R), named 'Eco-Niwas Samhita 2018', in December 2018. The code applies to mixed-land-use buildings and residential buildings built on a land area of ≥500 square meters. It lays down the minimum performance standards for these buildings, to limit heat loss and gain. Further, the expanding construction industry will support the HVAC market is witnessing a CAGR of 4.8% during the forecast period (2020–2030). As a result, the market revenue is expected to rise from $240.8 billion in 2019 to $358.1 billion in 2030. India, Qatar, China, the U.S., Saudi Arabia, and the U.A.E. are generating a high dema...