The HVAC market, according to a report published by Transparency Market Research, is expected to grow at a compound annual growth rate of 8.9 percent from 2012 to 2018.

The report, "HVAC Equipment Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast, 2012 - 2018," states that energy regulations, technological developments and growing demand across the commercial sector are some of the key drivers of growth.