The HVAC market generated a revenue of $240.8 billion in 2019 and is predicted to advance at a CAGR of 4.8% between 2020 and 2030. Furthermore, as per the estimates of PS Intelligence, a market research firm based in India, the market would attain a valuation of $358.1 billion by 2030. The biggest factor fueling the progress of the market is the growing requirement for energy-efficient air-conditioning systems across the globe.

Another major factor driving the market advancement is the increasing implementation of government programs aimed at promoting the popularity of HVAC systems around the world. The industry is also being driven by the thriving construction industry. As per a report produced by the PricewaterhouseCoopers (PwC), the total spending on construction projects across the world will rise to $15.5 trillion by 2030. Globally, the U.S., China, Qatar, Saudi Arabia, the U.A.E., and India are the biggest spenders on construction activities.

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These countries are observing the launch of several massive construction projects such as those involving shopping complexes, hotels, and skyscrapers. This is mainly because of the increasing number of tourists and various international events such as the FIFA World Cup 2022 (Qatar) and the Dubai Expo 2020 (postponed till 2021) that will be held in these countries in the coming years. Besides this, the governments of several countries are also implementing policies aimed at promoting the usage of HVAC systems.

Hence, it can be said with full surety that the market would exhibit substantial growth all over the world in the future years, mainly because of the growing requirement for HVAC systems in various commercial, residential, and industrial facilities. This market research report provides a comprehensive overview of the HVAC market

• Historical and the present size of the HVAC market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential