HVAC Equipment Market, By End-use (Residential, Commercial, Industrial), By Product Type (Heating, Air Conditioning, Ventilation), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023

Code : CMI4772

Pages :170

Formats :

Excel and PDF

Industry : Consumer Electronics

Market Challenges And Opportunities

Global HVAC Equipment Market Drivers:

Strict regulatory norms

Strict regulatory norms are expected to drive the growth of the global HVAC equipment market during the forecast period. Governments in different countries have imposed stringent regulations, to protect the environment and stabilize greenhouse gas levels in the atmosphere. There are 83 signatories and 192 member countries which have signed or accepted the Kyoto Protocol, an international treaty which extended the 1992 United Nations Framework. A similar treaty, the Montreal Protocol, achieved universal ratification (in 1999), and signatories signed the protocol with a willingness to protect the depleting ozone layer and implemented the regulations in their respective countries. Such regulations are expected to boost the demand for HVAC equipment. Conventional equipment, which emits harmful gases such as chlorofluorocarbons (CFCs) and hydro chlorofluorocarbons (HCFCs) are needed to be replaced. Furthermore, other regulations are boosting the adoption of HVAC equipment including LEED (Leadership in Energy & Environmental Design) certified projects and mandatory SEER (Seasonal Energy Efficiency Ratio) ratings (SEER of 13.0 and above in the U.S.) for HVAC systems.