The report on HVAC Systems Market by application (industrial and residential), by equipment
type (heating, ventilation and cooling), by implementation type (new construction and retrofit
building), by software & service (heat load calculation, design, scheduling, service software)
trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in
the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to
the report the Global HVAC Systems Market is projected to grow at a CAGR between 5.5% and
5.9% in terms of value over the period of 2017-2023. The growth in the world market is primarily
driven by significant contribution by North America (Leading region) region to this market.
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Market Insights
Global warming induced change in climate in various regions drive the demand for HVAC systems,
as the extreme weather conditions affect the human comfort and productivity. Technological
advancements are anticipated to drive the growth of the global HVAC market, as new applications
emerge in commercial, industrial and residential sectors.The preference for smart homes among
customers who look for energy efficient homes is expected to drive the growth of the HVAC
systems during the forecast period. Tax credit programmes and regulations aimed at promoting
energy efficient systems are expected to enhance the demand for HVAC systems. Globally,
increasing investments in the construction sector such as real estate and infrastructure is
expected to generate demand for HVAC systems, as the buildings require modern energy efficient
solutions for heating, ventilation and air-conditioning. The stability in the automobile industry is
expected to drive the demand for HVAC systems, as customers prefer to have air-conditioning or
heating systems in their vehicles, depending upon the local weather conditions. Increasing