
The global HVAC systems market was valued at $127.4 billion in 2020 and is expected to expand
at a compound annual growth rate of 5.9% from 2021 to 2028. Of the various product categories
within the industry, the cooling product segment dominated the global market with a revenue share of more than 54% in 2020. It is expected to continue to dominate the market in the near future due to growing demand for new cooling systems largely
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