Construction projects will massively push up the demand for HVAC systems in the country, once they are completed. This will, in turn, propel the advancement of the Asia-Pacific (APAC) heating, ventilation, and air conditioning (HVAC) market in the coming years. As a result, the value of the market is predicted to grow from $54.6 billion in 2018 to $70.7 billion by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.3% between 2019 and 2024. 

Depending on heating type, the market is divided into heat pumps, unitary heaters, boilers, and furnaces. Amongst these, the boilers category recorded the highest growth in the APAC HVAC market in the past years, mainly because of the huge requirement for boilers in the thermal power sector and in the production of electrical energy, especially in India, China, Japan, Vietnam, and Indonesia.

Moreover, the mushrooming electrical energy requirements in India and China are fueling the sales of boilers in APAC. When end user is taken into consideration, the Asia-Pacific HVAC market is classified into residential, commercial, and industrial categories. Out of these, the commercial category registered the highest growth in the market in the past years, as per the observations of PS Intelligence, a market research company based in India.

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This category recorded the highest growth in India in the years gone by, because of the launch of several commercial projects, particularly commercial building and office projects, in the country.  Hence, it can be said with full surety that the demand for HVAC systems will soar in the APAC region in the forthcoming years, primarily because of the launch of several construction and infrastructural development projects and the surging disposable income of the people residing in this region.