In a recent research report by Maximize Market Research, the HVAC VRV Market is expected to surpass US $29.2 billion by the year 2027, from US $12.2 billion in 2019.
Installation of air purification units along with the VRV system installation is the key market trend across the APAC, North America, Europe and others regions. GCC countries have also in sighted the growth patterns for HVAC VRV systems in the market owing to the growth of the healthcare and service sector in the MEA region. According to HFAI data, the HVAC market is anticipated to incline towards MEA regions as underdevelopment in the region comes into play on the verge of globalization.
According to HVAC Magazine, HVAC VRV Market is anticipated to lead the heavy equipment engineering and commercial sectors owing to increasing demand for portability and energy efficiency across the globe. Cultivating standards of manufacturing and design advancements made by manufacturers are the key factors considered to drive the growth of the market. According to Sales experts, sales are anticipated to reach approximately 20 million units worldwide during the forecast period as many SMEs are driving towards sustainability.
North America is dominating the market owing to increasing manufacturing standards and stringent safety norms for workers in the region. Furthermore, an increasing venture of key players in product development is the factor attributing to the growth of the product demand in the region. The European market is anticipated to grow in pace as product integration is increasing across the regional market. On the other hand, the increasing cost of raw materials and automation across the globe are the factors restraining the demand for the products during the forecast period.
Despite a huge decline in the sales of HVAC VRV during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 11.5%, during the tenure of 2021 – 2027.
The study is consolidated on the basis of three major segments and further into sub-segments, Product Type (heat pump system and heat recovery system), Application (Industrial, Residential, Commercial {Educational institutes, Offices and commercial complex, Hospitals and clinics, Hotels, Others}), and System Type (two type and three type), to forecast the market value; Also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players- Mitsubishi Electric Corporation, DAIKIN Industries, Ltd., TOSHIBA, Panasonic Corporation, FUJITSU GENERAL, Lennox International, Voltas, Midea Group, Ingersoll Rand, Inc., LG, Blue Star, Airdale, Emerson, Carrier, GE, Johnson Controls, United Technologies, Samsung Electronics, Advantage Air Systems
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global HVAC VRV Market.”
https://www.maximizemarketresearch.com/market-report/global-hvac-vrv-market/114447/
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