Value of Australia and New Zealand HVAC Market Set to Rise Above $3.0 Billion by 2024

The Australia and New Zealand heating, ventilation, and air conditioning (HVAC) market attained a valuation of $2.3 billion in 2018 and is predicted to generate a revenue of $3.2 billion by 2024. Furthermore, the market will exhibit a CAGR of 5.7% between 2019 and 2024, as per the market research company, P&S Intelligence. The burgeoning requirement for HVAC systems in various residential applications and the expansion of the construction industry are the main factors fueling the market advancement.

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Besides the aforementioned factors, the surging population of geriatric people, the soaring industrial production, and the booming real estate industry are also propelling the advancement of market. Additionally, the implementation of various government standards and regulations is boosting the sales of HVAC systems in Australia and New Zealand. The enactment of various policies by the Australian government for reducing the emission of greenhouse gases by 5% in 2020 is massively propelling the sales of HVAC equipment in the country.

The Australian government also aims to reduce greenhouse gas emissions by as much as 26–28% by 2030. The building of net zero energy buildings (NZEB), that consume as much energy as they generate onsite through various renewable resources, is one of the important factors responsible for the surging requirement for HVAC systems in Australia. Depending on HVAC type, the Australia and New Zealand HVAC market is divided into heating, ventilation, and cooling categories.

This market research report provides a comprehensive overview of the 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
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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