Asia Pacific to Remain a Vital Revenue Pocket for HVAC Relay Market: Fact.MR
Verfasser: ashwani_kailiya on Wednesday, 27 March 2019According to a recent report by Fact.MR, HVAC relay market is estimated to continue its bullish run during the 2018-2026 period with the market generating revenue of almost US$ 3 billion in 2017. The steady growth of the HVAC relay market can be attributed to the continuous addition of new features, burgeoning demand for HVAC systems across industries, and growing awareness about the cost-effective benefits of the products.
Fact.MR opines Asia Pacific will continue to retain the bulk of the HVAC relay market share during the forecast period. Burgeoning consumption of plastic in South Asia in addition to the increasing demand for processed food and chemical production are estimated to be the vital causes propelling the growth of the market in the region. Emerging economies in the region are constantly focusing on renovating and modernizing the existing infrastructure such as metros, trains, buses, hospitals, and corporate spaces. The rigorous developmental activities in the region are likely to fuel demand for HVAC systems in the region which is eventually estimated to augment to the HVAC relay market growth.
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