ShareWorld HVAC equipment demand to reach USD 122 billion through 2020
According to a new study published by Freedonia, global demand for HVAC equipment is forecast to increase at a 4.1 % yearly rate through 2020 to USD 122 billion.
According to a new study published by Freedonia, global demand for HVAC equipment is forecast to increase at a 4.1 % yearly rate through 2020 to USD 122 billion.
Growth will slow from the 2010-2015 pace, due largely to an anticipated moderation in building construction spending in China, the world’s largest market for HVAC equipment. China will still post the largest gains of any nations in value terms, accounting for 31% of the total increase in world HVAC equipment.
The fasted increases in HVAC equipment demand will be registered in Saudi Arabia, India and Indonesia.
Demand for HVAC equipment in Western Europe will recover from a decade-long drop. A number of countries in the region have experienced prolonged economic weakness that has dampened both building construction spending and HVAC equipment demand.
Heat pumps will record the fastest increase in sales in both unit and value terms through 2020.
Growth will slow from the 2010-2015 pace, due largely to an anticipated moderation in building construction spending in China, the world’s largest market for HVAC equipment. China will still post the largest gains of any nations in value terms, accounting for 31% of the total increase in world HVAC equipment.
The fasted increases in HVAC equipment demand will be registered in Saudi Arabia, India and Indonesia.
Demand for HVAC equipment in Western Europe will recover from a decade-long drop. A number of countries in the region have experienced prolonged economic weakness that has dampened both building construction spending and HVAC equipment demand.
Heat pumps will record the fastest increase in sales in both unit and value terms through 2020.