Albany, New York, USA (PRWEB) October 28, 2013
According to a new market report published by Transparency Market Research "HVAC Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012 - 2018," the global HVAC equipment market is expected to exceed USD 139 billion by 2018, growing at a CAGR of 8.9% from 2012 to 2018.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/hvac-equipment-market.html
Factors such as changes in energy regulations, technological developments by manufacturers to meet these energy efficiency requirements, and growing demand across commercial sector, especially in Asia Pacific region, are some of the key growth drivers. However, the magnitude of impact of these factors on the market varies on a regional basis.
Asia Pacific in particular is experiencing high growth due to robust economic activities, resulting in increased urbanization and rise in consumer spending on luxury goods and services. In addition, growth across North America is showing signs of recovery, particularly in the residential sector. Growth in the non-residential sector, especially across the industrial segment, is slow due to dormancy in industrial activities. The commercial segment for HVAC equipments is growing at a healthy rate, with the tourism sector taking the lead. Commercial segment alone accounted for approximately 40% of market share in 2012.
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Global HVAC (Heating, Ventilation, and Air Conditioning) equipments market is driven by factors including stringent energy and environment regulations, growing urbanization and subsequent increase in construction spending, technological and product developments. The report includes analysis of the global HVAC equipments market for the period 2012 to 2018. It identifies various micro and macro economic factors affecting the market growth trends during the forecast period, and their impact on the overall market size. Acknowledging the robust development and growth of emerging economies in the Asia Pacific and Latin America, there has been a shift in global activities, which are now focused on these regions.
In efforts to provide an in-depth analysis of the global HVAC equipment market, the report adopts a multi-dimensional approach towards market estimates and forecast. The market under consideration is divided into sub-segments based on various parameters, so as to enable stakeholders across the supply chain take advantage of the strategic analyses included in the report.