Global HVAC Equipment Market (Sector)
As reported by Lucintel, a global consulting and market research firm, the global climatic industry is rapidly growing in various commodity segments and is expected to reach an estimated USD 105.7 billion by 2019. The major drivers of the HVAC equipment industry are growing urbanization, rising disposable income, replacement needs, strict energy regulations, and technological innovations.
South American and Asian regions showed a sustainable growth in 2013: the growth of the domestic and industrial air conditioning segment varied from 2% to 13% in these regions.
Argentina, India, Brazil, Japan and Russia will become the largest consumer market in 2014-2015. Professionals in the global HVAC equipment industry should focus on these countries as they are key targets and directions for Hyundai's main investment flows.