HVAC Market Global Market Share, Trends, Analysis and Forecasts, 2020 - 2030
Rapid urbanization and the growing need for energy efficient heating solutions and ventilation systems are some of the key factors bolstering industry growth. Additionally, rising government approval requirements and growing awareness level among general population is predicted to fuel product demand over the coming years as well. The Global HVAC Market was valued at US$ 135 billion in 2019. Governments across the globe are offering incentives and discounts for ventilation, and Air Conditioning (HVAC) units, thereby fostering product sales. Europe has witnessed massive growth over the past few years owing to the booming housing and tourism industry in the region. Additionally, rising sales of HVAC units across the North America region is credited to the well-established service industry and growing real-estate sector.
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