“HVAC system market to exhibit significant growth during 2020–2025”
The global HVAC system market size is estimated to grow from USD 202 billion in 2020 to USD 277 billion by 2025 at a CAGR of 6.5%. The key factors driving the growth of the market include growing demand for energy-efficient solutions, rising government incentives through tax credit programs, and the increasing trend of smart homes. However, higher installation cost of energy-efficient HVAC system and shortage of skilled labor is restraining the market growth.
“Cooling equipment to lead the HVAC system market during the forecast period.”
The high humidity levels and high summer temperatures, as well as the rapid increase in disposable incomes of consumers, are key factors driving the
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