MOUNTAIN VIEW, Calif.—The demand for energy-efficient systems and rise in consumer confidence has increased the uptake of heating, ventilation and air conditioning equipment. Homeowners and end users from the construction and commercial verticals are increasingly seeking out technologically innovative solutions as replacement products. Consequently, HVAC equipment suppliers are diversifying their portfolios with respect to system design and technology.
Recent analysis from Frost & Sullivan, Analysis of the Global HVAC Equipment Market, finds that the market earned revenues of $80.67 billion in 2014 and estimates this to reach $108.93 billion in 2020, despite its maturity. The study covers unitary equipment, applied equipment, chiller equipment, heat pumps and ductless systems. While unitary equipment dominates the market, it will lose share to ductless systems in the forecast period.
For complimentary access to more information on this research, visit: http://bit.ly/1WSavjx.