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Global Heating, Ventilation and Air Conditioning (HVAC) Systems Market to Reach $286.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Heating, Ventilation and Air Conditioning (HVAC) Systems estimated at US$201 Billion in the year 2020, is projected to reach a revised size of US$286.8 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
Rising concerns over climate change, increasing energy prices and carbon emissions continue to push the adoption of HVAC systems in commercial spaces. The market is also set to gain from the increasing demand for energy saving products. Rebates for energy-efficient systems such as air conditioning and HVAC are encouraging commercial building users to implement and upgrade HVAC systems.
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