Deep Research on “Global HVAC Market” Advances in monitoring systems and intelligent technology are expected to aid the growth of the HVAC market. Monitoring systems help in tracking the energy consumption of a building while intelligent technology controls the energy output of an HVAC system.
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The integration of the Internet of things (IoT) with HVAC systems is also opening new avenues for the market in terms of revenue. This research report predicts the commercial building sector to be the earliest adopter of this technology, as this integration would enhance the efficiency and reliability of the BAS.
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The HVAC equipment segment dominated the market during 2015, with a market share of around 69%. The growing population and industrialization, rising sales of domestic and commercial buildings, increasing construction expenditure, and the expanding purchasing power of the middle class are the key growth drivers for this segment.
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