The Southeast Asia HVAC market is poised for significant growth, projected to reach $33.0 billion by 2030 from $20.8 billion in 2023, driven by increasing infrastructure development and a rising demand for energy-efficient solutions. The adoption of smart and energy-efficient HVAC systems, alongside the growing hospitality sector, supports this growth. However, high installation costs of advanced systems like VRF remain a challenge. The market is also shaped by strong government regulations aimed at enhancing energy efficiency across the region.
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