Technology News & Trends

  According to a new report by Transparency Market Research (TMR), the global market for  HVAC and refrigeration (HVACR) systems  demonstrates a highly competitive and fragmented structure with no clear leadership. Only a few companies, such as Daikin Industries Ltd., Mitsubishi Corp., Haier Electronics Group Co. Ltd., Carrier Corp., have been able to establish themselves as key vendors of HVACR systems across the world.  Currently, the leading market players are focusing aggressively on developing energy efficient refrigeration systems in order to curb the energy consumption of equipment. However, over the forthcoming years, these companies are likely to begin engaging in mergers, acquisitions, and various strategic partnerships in a bid to expand their business through new service additions and geographical presence.  As per TMR’s estimations, the global HVACR systems market, which stood at a value of US$81.1 bn in 2015, is likely to progress at a CAGR of 5.50...