Latest News- HVAC Market: HVAC equipment is expected to lead the Type segment during 2025-2029

The HVAC Market is being driven by Growing construction sector

The HVAC Market is expected to grow at a CAGR of 7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 90.5 billion. Business Automation Systems (BAS), a critical component of modern building infrastructure, have witnessed significant growth in the HVAC market. These advanced systems, which control and monitor HVAC and other facilities, are equipped with computing and digital communication tools. The proliferation of construction projects and building retrofits has driven the installation of integrated BAS, leading to enhanced energy efficiency. The evolution of BAS technology is attributed to advancements in sensor technology, the availability of affordable and swift communication systems, and user-friendly interfaces. Manufacturers are embracing open protocols, such as the Internet protocol, to deliver superior control solutions. BAS is increasingly becoming the standard technology for optimizing the interaction and operability among HVAC, lighting, fire, and security control units within a building. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • HVAC equipment
  • HVAC services
• End-user
  • Non-residential
  • Residential
• Heating Equipment
  • Heat pumps
  • Furnaces
  • Unitary heaters
  • Boilers
• Ventilation Equipment
  • Air handling units
  • Air filters
  • Dehumidifiers
  • Ventilation fans
  • Humidifiers
  • Air purifiers
• Cooling Equipment
  • Unitary air conditioners
  • VRF systems
  • Chillers
  • Room air conditioners
  • Coolers
  • Cooling towers
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing construction sector
• Rising preference for condensing boilers
• Increasing refurbishment and replacement demand

However, the market also witnesses some limitations, which are as follows:

• Failure issues with HVAC equipment
• Lack of skilled labor
• High initial cost of HVAC systems

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Market Scope in HVAC Market Research Report

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Research Analysis Overview

The HVAC system industry encompasses heating, ventilation, and air conditioning solutions for various building types, including residential, commercial, and industrial. Climate control technologies are crucial in mitigating the effects of climatic changes, with a focus on energy consumption reduction in the construction sector. Affordable housing units and energy-saving products are essential, leading to increased regulations like SEER2 and the adoption of energy-efficient A2L and R-410 refrigerants. Smart building solutions, such as AC, condensing boilers, ductless HVAC systems, sustainable, and smart HVAC systems, furnace systems, and boiler systems, are transforming net-zero buildings through advanced technologies.

Market Research Overview

The HVAC market, a significant segment of the global building products industry, encompasses companies specializing in heating, ventilation, and air conditioning systems for residential, commercial, and industrial buildings. Technavio projects the market's growth, based on manufacturers' combined revenue, to be driven by the expansion of the construction sector. Urbanization and infrastructure development in emerging economies necessitate the creation of residential and healthcare facilities, fueling the demand for advanced climate control technologies and HVAC systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/