The overall value of the global HVAC equipment market was at $91.3 billion in 2013, according to a report by Transparency Market Research. Rising at a positive compound annual growth rate (CAGR) of 6.2 percent between 2014 and 2022, the market is anticipated to reach $155.1 billion by the end of the forecast period.

The global intelligent pump market is expected to grow from an estimated $613.7 million in 2016 to $880 million by 2021, registering a compound annual growth rate (CAGR) of 7.5 percent from 2016 to 2021, according to a report by MarketsandMarkets.

According to an AHR Expo and ASHRAE Journal survey sent to more than 1,400 HVACR manufacturers worldwide, there is growing optimism for improving economic prospects in 2017. Based on survey results, 86 percent of the respondents expect their sales to grow in the coming year.