Study finds world HVAC equipment demand to reach $120 billion
Global demand for HVAC equipment is forecast to increase 5.7% annually to $120 billion in 2018, according to a new study from The Freedonia Group.
The Cleveland-based market research group found that growth will be driven by an expansion of reliable energy sources and increases in income levels in China, India, and other developing countries, making HVAC equipment more accessible to a larger number of consumers. A recovery in the housing markets in the U.S. and Western Europe, along with rebounding consumer confidence levels, will also support sales gains.