The global HVAC market value is anticipated to reach US$202.92 billion in 2025, growing at a CAGR of 6.72% for the period spanning from 2021-2025.
Factors such as growing global population, increasing construction activities, emerging home automation market, intensifying annual mean temperature and escalating e-commerce retail sales are expected to drive the market growth. However, growth of the industry would be challenged by increasing raw materials prices, growing government regulations, data infrastructure system security, retail consolidations and economic & political events. A few notable trends include growing smart thermostat market, surging demand for invertor air conditioner (AC) in China, technological advancements and adoption of sustainable building designs
In 2020, the outbreak of COVID-19 pandemic has
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