World HVAC Equipment Market

World demand for HVAC equipment is expected to rise 6.1% per year through 2016
Global demand for HVAC equipment is forecast to rise 6.1% per year up until 2016 included, reaching a value of USD 107 billion.
This growth rate is faster than growth seen during the 2006-2011 period.
Economic recovery and the related improvement in construction activity are expected to drive sales, particularly on the US market.
Gains in other developed areas, such as Canada and Japan, will be slower, reflecting already high penetration rates and markets that were less affected by the global recession.
Low air conditioning system ownership rates in Western Europe will offer opportunities, although gains will be limited sluggish growth in the building sector.
Regulations regarding energy efficiency and the use of more environmentally friendly refrigerants are expected to boost sales of HVAC equipment on developed markets.
Demand in the Asia/Pacific region is expected to outpace the global average, increasing 6.5% per year through 2016.
India and Indonesia are likely to have double-digit annual increases.
China will have the largest growth, with one-third of global demand gains from 2011 to 2016. The Chinese market is spurred by the nation's rapid industrialization and rising personal incomes, and government support in rural areas. China is currently the world's leading supplier of HVAC equipment.