"In September of 2014, the Department of Energy (DOE) announced a new standard for furnace fan efficiency. This standard comes into effect in 2019 but will continue to impact the industry through 2020 and beyond. It will also apply to commercial, industrial, and residential heating products. For residential air conditioning clients with older units, the phasing out of R22 can pose a challenge when it comes to providing service. If an AC unit needs a refrigerant recharge due to a leak or other issues, getting ahold of R22 will be a greater challenge. HVAC technicians may be able to access limited amounts or may need to use recycled R22 for these customers."
According to the report, Software Automation and Connectivity in the HVAC Equipment is one of the primary growth factors for the market. Growing Machinery Application in Various Industries
is also expected to contribute significantly to the HVAC Equipment market. Overall, Residential
applications of HVAC Equipment, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The End Use Industry, such as Healthcare, is boosting the HVAC Equipment market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global HVAC Equipment market identified that the demand is rising in many different parts of the world as "Technological Advancement in the HVAC Equipment
". Furthermore, some recent industry insights like "On 25th February 2020, Equipment Controls Company announced the acquisition of Gasco LLCís assets and people, based in Noblesville, Indiana. Gasco will continue operations under Equipment Controls, dba Gasco. Equipment Controls has a 54-year track record of unmatched customer service as a value-added supplier of innovative products and services to the natural gas industry. The expanded business will serve 18 states throughout the Southeast and Midwest United States." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global HVAC Equipment market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2020 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the HVAC Equipment market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall HVAC Equipment market size is calculated using market estimation process, the HVAC Equipment market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global HVAC Equipment market size has been validated using both top-down and bottom-up approaches.