HVAC System Market Size to reach USD 219.49 Billion In 2030

Rapid adoption of energy-efficient air conditioners in consumer products.

The global Heating, Ventilation, and Air Conditioning (HVAC) system market size is expected to reach USD 219.49 billion in 2030 and register revenue CAGR of 5.5 percent over the forecast period, according to latest report by Reports and Data. Rapid integration of sensors and other similar components into industrial equipment plays a critical role in driving HVAC system market revenue growth. A sensor is a type of component when integrated into a device responds to any changes in physical environment and sends output signals. Specific input could be light, heat, motion, moisture, and any other environmental phenomena. The output generated is a signal that is transmitted electronically over a network for reading or further processing. Advanced HVAC system designs incorporate a wide variety of sensors. These sensors aid in measuring and controlling temperature, humidity, air quality, and building pressure. Moreover, it aids designers in identifying critical areas where further improvements can be done. A pressure sensor, for instance, is a critical component used within the HVAC system. It monitors pressure levels within specific zones and measures pressure drop across filters and other components thereby alerting system when maintenance and filter replacement is required.

Rising demand for HVAC systems from food production industry is a key factor driving market revenue growth. Cooling and heating systems play a major role in several industries. However, in food production and storage this is even more important. Food products in storage spaces might get affected by volume of space, quality of air, humidity, and number of workers present in the location. Therefore, it needs to be preserved. Moreover, a properly designed and installed air conditioning unit is essential for food factories. It aids in controlling airborne particulates and odors. In addition, it also minimizes risk of any contamination by keeping food products fresh all time.

Source: PRNewswire