It is expected to grow at a CAGR of 10. 8% during 2022–2028. The usage of air conditioners is our safeguard once the common temperature increases. However, many people are seen to be aware of how necessary it is to decide on an air conditioner unit and the way how it is important to exchange an inefficient air conditioning system for an updated version.
In HVAC system market analysis, such growth in awareness will have a positive impact. New HVAC systems are economical and far more environment friendly and improve indoor air quality.
To decrease greenhouse gas emissions, several countries entered into a pact to work together towards that goal. The focus behind this is to limit the number of hydrofluorocarbon refrigerants (HFC) used in many air conditioners, as HFC is considered the most damaging to energy utilization.
Acceptance of modern HVAC systems, owing to their lower greenhouse gas emission rates, is expected to further boost HVAC system market size. HVAC systems provide benefits such as cost savings and energy savings and help to maintain sustainable goals regarding environmental safety. The above-mentioned factors will positively fuel the adoption of HVAC system, and thus would promote the HVAC system market growth.
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