HVAC Market Revolutionary Trends, Future Potential and Revenue Estimation in Industry Statistics

The expanding construction industry will support the HVAC market in witnessing a CAGR of 4.8% during the forecast period (2020–2030). As a result, the market revenue is expected to rise from $240.8 billion in 2019 to $358.1 billion in 2030. India, Qatar, China, the U.S., Saudi Arabia, and the U.A.E. are generating a high demand for HVAC systems due to the soaring number of hotels, shopping complexes, and skyscrapers in these countries.

The construction of new structures is attributed to the booming number of tourists and upcoming events, such as FIFA World Cup 2022 and Dubai Expo 2020. At present, a majority of customers are showing a preference for smart HVAC systems that have intelligent thermostats, better controls, and advanced monitoring systems. These systems also produce cleaner air, emit lesser noise, and offer better temperature variability than conventional systems.

Additionally, smart HVAC systems enable customers to monitor their performance in real time. Users across the world are increasingly adopting smart HVAC equipment to strengthen sustainability efforts and reduce energy consumption. At present, a majority of customers are showing a preference for smart HVAC systems that have intelligent thermostats, better controls, and advanced monitoring systems.

These systems also produce cleaner air, emit lesser noise, and offer better temperature variability than conventional systems. Additionally, smart HVAC systems enable customers to monitor their performance in real time. Users across the world are increasingly adopting smart HVAC equipment to strengthen sustainability efforts and reduce energy consumption.

Thus, the increasing government initiatives and flourishing construction industry will boost the adoption of HVAC systems in the foreseeable future.

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