There's much to be excited about in the global HVAC industry market!
Today, we take a bit of a step back to look at the HVAC industry market as a whole and globally. There are a lot of interesting projections that may be of interest to many of you!
Today vs. Tomorrow
Back in 2021, the market value for the HVAC industry was valued at $156.44 billion. With a compound annual growth rate of 6.72% throughout 2022-2027, the market is projected to be worth $231.11 billion in 2027!
The Smart Home Market
The market is projected to grow quite quickly during the forecast period with the emerging home automation market and fast technological advancements fueling this growth. Having your thermostat controlling all of your HVAC to be at its most optimal and cost-effective is something that could one day be in every home! The smart home market is something that may be of interest, especially within this new digital age of smartphones.
What's Being Done Now?
It's been quite apparent that the HVAC industry is making its shift towards more energy-efficient and sustainable solutions in order to reduce greenhouse gas emissions while saving money! Additionally, new policies are pushing companies to develop newer and more efficient products. For example, Carrier introduced two-stage AC and heat pump to comply in accordance with the Department of Energy's new minimum efficiency regulation changes!
While we only focused on the green initiatives of the HVAC industry today, there are many other things to discuss and learn about! If you've been interested so far, definitely check out the article online!
To read the full Yahoo! Finance article, please visit:
To learn more about Carrier's two-stage air conditioner and heat pump, please visit: https://www.carrier.com/residential/en/ca/news/news-article/carrier-introduces-twostage-air-conditioner-and-heat-pump-ahead-of-2023-doe-minimum-efficiency-regulation-changes.html?fbclid=IwAR0o8qd39NmBoRFa_asytJSMZ0z4wVMujfdlNEp4SoKNDZcKrzZRdh9RdL0