Posted on July 4, 2022.

An increase in the use of HVAC systems in manufacturing plants, hospitals, offices, central heating/chiller plants, sports complexes, buildings, schools, and data centers along with rapid industrialization drive the global HVAC pump market.

PORTLAND, Ore., July 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "HVAC Pump Market By Product Type (Single stage, Multi-stage), By End-User (Industrial, Residential, Commercial), By Pump Type (Booster pumps, Circulating pumps, Centrifugal pumps): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global HVAC pump industry generated $31.6 billion in 2021, and is expected to generate $55.5 billion by 2031, witnessing a CAGR of 5.7% from 2022 to 2031.

Drivers and Opportunities

Increase in use of HVAC systems in manufacturing plants, hospitals, offices, central heating/chiller plants, sports complexes, buildings, schools, and data centers along with rapid industrialization drive the global HVAC pump market. Moreover, technological advancements and increase in investments in industrial and commercial construction activities such as hospitals and food & beverages factories present new opportunities in the coming years.

Original Post: HVAC Pump Market to Reach $55.5 Bn, Globally, by 2031 at 5.7% CAGR: Allied Market Research