“HVAC system market is expected to grow at a significant CAGR between 2018 and 2023”
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.
“ market for VRF systems of cooling equipment is expected to grow at the highest CAGR between 2018 and 2023”
The VRF systems of cooling equipment is expected to grow at
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