• Iraq air conditioner market is likely to exhibit 5.7% of growth by 2024. With more than 40 million population, Iraq remains an attractive consumer market with potential of over $40 billion.
• The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences.
• The global heating, ventilation, and air conditioning (HVAC) market is projected to reach about 367.5 billion U.S. dollars by 2030, based on a compound annual growth rate (CAGR) of 3.9 percent between 2020 and 2030. A more recent projection estimates that the market volume of the HVAC market will reach 151.1 million units by 2024. Growth in the HVAC market is likely due to continued growth in construction sector revenues, from both publicly and privately funded projects.
