San Francisco, California, August 10, 2018 – The global heating, ventilation, and air conditioning (HVAC) market is predicted to gain momentum in its growth with rising application in controlling air quality, humidity, and temperature in vehicular and indoor environments. A report by TMR Research explains key factors of the market that could enhance growth in the foreseeable future. It bears the title “HVAC Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” The application of efficiently managing heating and cooling costs is particularly evident in industrial and office settings. HVAC systems could be commonly used in industrial and office buildings operating in different temperature zones and with large assembly.
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The growth of the global HVAC market is expected to gain strength on the back of the rise of several favorable policies, tax credit programs offering government incentives, and regulations that promote energy saving. The market could also benefit from the rising shift toward smart homes and increasing construction and infrastructure development activities. The adoption of HVAC could be large in commercial buildings. This could be one of the reasons for increased manufacture of HVAC motors. However, the residential market is projected to outshine the non-residential one in the coming years.
Introduction of advanced monitoring systems due to the use of intelligent technology is forecast to help the demand in the global HVAC market to surge during the course of the forecast period. The energy output of HVAC systems can be controlled with the use of intelligent technology, whereas energy consumption can be monitored using advanced monitoring systems. The integration of IoT with HVAC is foreseen to create a whole lot of lucrative opportunities in the market. This technology could increase the reliability and efficiency of building automation system (BAS), especially in the commercial sector.
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Some of the leading players of the global HVAC market are Panasonic, Ingersoll Rand, and Daikin.