The value added of the Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing sector in Canada is expected to grow from an actual 2023 level of CAD 2.642 billion to CAD 3.2355 billion by 2028. Forecast data indicates a steady year-on-year growth from 2024 onward, with a noteworthy increase of approximately 4-5% each year. The Compound Annual Growth Rate (CAGR) over this five-year forecast period is about 4.2%.

Future Trends to Watch:

Technological advancements driving efficiency and cost reductions.
Growing demand for energy-efficient systems responding to environmental regulations.
The impact of construction industry trends and economic conditions on equipment demand.
Potential disruptions or opportunities from materials and component supply chain changes.