Raincatcher HVAC State of the Industry Report 2021
The HVAC Industry is Primed for Growth.
The global HVAC systems industry is poised for significant growth. Worldwide demand is estimated to increase from $130.4 billion in 2019 to $208.5 billion in 2027, growing at a CAGR of 6.1%.
Several key factors drive demand for HVAC systems. Global warming makes air conditioning and air quality an increasing necessity across the globe. COVID-19 has also increased awareness of the importance of indoor air quality. New real estate demands new HVAC systems. And with an increased interest in energy efficiency, there is demand for more tech-enabled HVAC systems, as well as an increase in government funding to support green initiatives.