The North America HVAC system market was valued at US$ 90,492.1 million in 2022 and is expected to reach US$ 2,02,793.85 million by 2030; it is estimated to grow at a CAGR of 10.6% from 2022 to 2030.
Growth in Government Regulatory Policies for Energy Saving and Conservation Fuel the North America HVAC System Market
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Governments across the world are using a variety of strategies to encourage energy saving and conservation. They are including sizable line items for energy costs in their yearly operational budgets. In addition, they are saving a lot of money on energy costs incurred in public buildings and are exhibiting energy and environmental leadership by investing in energy efficiency.
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Other than the increase in the efficiency of both new and existing facilities, many governments are including energy efficiency standards in their decisions of product purchases. The main energy consumers in municipal level operations are often the water and wastewater treatment facilities. High-qualityย HVAC systems can be employed at water and wastewater facilities to decrease energy costs and greenhouse gas emissions. Through energy data management and evaluation, energy efficiency standards for public buildings, uptake of retrofit programs for already-existing public buildings, acquisition of energy-efficient appliances and equipment, and establishment of energy-efficient operations and maintenance procedures, state and local governments are promoting energy efficiency programs and policies for public facilities, equipment, and government operations.
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Mitsubishi Electric Corp
Blue Star Ltd
Hitachi Ltd
Daikin Industries Ltd
Emerson Electric Co
Honeywell International Inc
LG Electric Inc
Carrier Global Corp
Johnson Controls Inca
The North American HVAC system market is experiencing significant growth, and a key driver of this expansion is the increasing implementation of stringent government regulatory policies focused on energy saving and conservation. This trend reflects a broader global movement towards sustainability and a recognition of the critical role that energy efficiency plays in mitigating climate change.
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Author: switi patil
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