The Canada HVAC Equipment Market size in terms of shipment volume is expected to grow from 3.26 Million units in 2024 to 3.9 Million units by 2029, at a CAGR of 3.68% during the forecast period (2024-2029).
Heating, ventilation, and air conditioning (HVAC) equipment are systems for circulating air between indoor and outdoor areas and heating and cooling in residential and commercial buildings. These techniques also filter and clean indoor air and maintain humidity at optimal levels. Government initiatives, such as rebates and tax incentives for energy-efficient HVAC installations, encourage consumers and businesses to invest in newer, more efficient systems. Also, increasing awareness of the importance of indoor air quality and its impact on health is driving the demand for HVAC systems with advanced filtration and ventilation capabilities across the country.
The Canadian heating, ventilation, and air conditioning equipment market is highly fragmented. Key players include Daikin Industries Ltd, LG Electronics Inc., Nortek Air Solutions LLC, Rheem Manufacturing Company Inc., and Trane Technologies PLC. Players in the market are adopting techniques such as collaborations and acquisitions to improve their product offerings and gain sustainable competitive advantage.
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