Commercial HVAC Market 2021 Industry Outlook, Investment Analysis and Revenue 2025
The global commercial HVAC market is expected to exhibit a strong 6.86% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR).
The global commercial HVAC market is expected to reach a valuation of USD 130.25 billion by 2024, rising upon the market’s 2018 valuation of USD 93.5 billion. The report presents a comprehensive overview of the global commercial HVAC market’s historical growth trajectory and current statistics. Based on this databank, studied projections are made for the market’s future growth over the forecast period. The major drivers and restraints affecting the market are profiled in detail in the report. The major players operating in the global commercial HVAC market are also profiled in detail in the report. The report also looks at the impact of the COVID-19 pandemic on the global commercial HVAC market.
Commercial HVAC units are used to manage the air conditioning needs of commercial spaces. These units are usually larger than residential HVAC units, as they need to handle a larger volume of HVAC operations than in residential applications. A commercial HVAC system comprises components such as thermostats, compressors, dampers, evaporators, condenser fans, and blowers. There are three major categories of commercial HVAC systems: Single split systems, multi split systems, and VRF and VRV systems. Smaller commercial spaces are usually serviced by single split systems, as they are affordable and appropriate for small spaces. Larger commercial spaces may employ multi split or VRF and VRV systems in order to accommodate the larger volume of air conditioning required in larger commercial spaces.
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