HVAC Systems Procurement Intelligence expected to grow at a CAGR of 6.3% from 2023 to 2030
HVAC Systems Procurement Intelligence The global HVAC systems category is expected to grow at a CAGR of 6.3% from 2023 to 2030. Office buildings and high-rise structures are increasingly using HVAC systems to control the temperature within the buildings. As a result of growing environmental concerns, there is a rising trend for green buildings, which is in turn expected to drive category growth. In APAC and the Middle East region, the demand for HVAC systems for residential purposes is growing due to its hot climate conditions. The growing number of building permits and enhanced designs in construction are driving the demand for AC. The shift of HVAC system maintenance from reactive to predictive maintenance is enabled by the use of IoT technology. Predictive maintenance lengthens the lifespan of the HVAC system while lowering labor and maintenance costs. The traditional Building Management System (BMS) is made up of various subsystems that are installed inside a building ...