Decentralized HVAC customer inclination toward comfort boosts the growth of the decentralized HVAC market. Furthermore, climate change is one of the prominent influencing factors increasing the adoption of heating and cooling equipment. Several customers consider HVAC equipment as a beneficial investment, due to unpredictable climatic conditions and rise in temperature.
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HVAC units also add to the aesthetic value of residential and commercial places. The demand for decentralized HVAC units is growing across sectors such as commercial, real estate, and service industries, due to the factors, such as need for comfort, increase in global warming, and rise in disposable income.
Within the global decentralized HVAC equipment market, the residential segment is expected to remain the largest segment during the forecast period. Increase in penetration of air conditioners and significant developments in construction industries are the major driving factors that boost the growth of this segment Β during the forecast period.Β
Market Trends
- Decentralized HVAC employs inorganic growth strategies, such as mergers & acquisitions, partnerships, and geographical expansion, to sustain the market competition. The significant improvements in building and construction expenditure drive the growth of the market .
- Air conditioning equipment is expected to hold a prominent share of the decentralized HVAC equipment market, owing to the trend of an increase in number of residential and commercial users, along with government regulations for energy efficiency and eco-friendly equipment.
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