DUBLIN--(BUSINESS WIRE)--The "HVAC System Market by Heating Equipment (Heat Pumps, Furnaces), Ventilation Equipment (Humidifiers, Dehumidifiers), Cooling Type (VRF Systems, Unitary Air Conditioners), Implementation Type, Application, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Hvac System Market was Valued at USD 181.00 Billion in 2018 and is Expected to Reach USD 251.60 Billion By 2023, at a CAGR Of 6.80% Between 2018 and 2023.
Major factors driving the growth of the HVAC system market include increasing demand for HVAC systems for reducing energy consumption, extreme weather conditions, government tax credit and rebate programs, and growing demand for HVAC systems to upgrade old systems. However, complexities in HVAC retrofit pose a challenge to the players in the market.
The VRF systems of cooling equipment is expected to grow at the highest CAGR between 2018 and 2023. VRF systems are known for their high-energy performance, which improves the energy efficiency in residential and commercial buildings. VRF systems can save up to 40% energy as compared to the traditional air conditioning systems. It consist of a network of zones, and these zones are heated and cooled only when they are in use. The system is thus designed to provide exactly the amount of cooling needed for the current conditions.
The demand for air purifiers is growing because of the degrading air quality. Furthermore, people are more exposed to a high risk of contracting respiratory and other cardiovascular diseases because of rising air pollution. The increase in the number of health issues regarding air contamination among people is expected to drive the demand for air purifiers globally.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 HVAC System Market, By Heating Equipment
8 HVAC System Market, By Ventilation Equipment
9 HVAC System Market, By Cooling Equipment
10 HVAC System Market, By Implementation Type
11 HVAC System Market, By Application
12 Geographic Analysis
13 Competitive Landscape
14 Company Profiles
- Johnson Controls
- LG Electronics
- Mitsubishi Electric
- Qingdao Haier
- Samsung Electronics
- United Technologies
For more information about this report visit https://www.researchandmarkets.com/research/mdtz8s/global_hvac?w=4