Albany, NY -- (SBWIRE) -- 12/08/2015 -- HVAC, stands for heating, ventilation and air conditioning and refers to the equipment, distribution network and terminals, used either collectively or individually to provide fresh filtered air, heating, cooling and humidity control in a building. HVAC market is divided into two major sub-segments: equipment and services. HVAC equipment is broken down into large commercial (applied/chillers), light commercial (commercial unitary or ducted), residential (residential unitary or ducted), and appliances/other (ductless equipment for both residential and commercial markets). The aftermarket includes parts and services related to HVAC market.
The global demand of HVAC equipment continued to increase in 2014, due to rapid growth of air-conditioning market in the emerging economies and significant growth registered by the construction industry and is expected to increase further in the coming years.
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The key factors driving growth of the HVAC market are growing urbanization, rising demand for housing market, growth of mini split heat pumps, and increase in construction expenditure. Some of the noteworthy trends and developments of this industry are growing demand for variable refrigerant flow systems, technological advancements, increasing demand of smartphone, growing integration of HVAC controls and growth of radiant floor heating. However, the expansion of global HVAC market is hindered by environmental impact and stringent regulations.
The report "Global HVAC Market" provides an in-depth analysis of the HVAC equipment market along with a detailed study of the US market. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, Daikin Industries Ltd., Lennox International Inc., United Technologies Corporation and Ingersoll-Rand are being profiled.
By combining SPSS Inc.'s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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