The construction industry is growing significantly worldwide, especially in developing countries. As a result, there is a rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems in residential, commercial, and industrial sectors. This growth is being driven by ongoing urbanization and infrastructure development.
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In 2021, the global heating, ventilation, and air conditioning (HVAC) market was valued at $156.44 billion. The market is expected to be valued at $231.11 billion by 2027, expanding at a compound annual growth rate (CAGR) of 6.72% between 2022 and 2027.
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Benchmark International 
Benchmark International