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OverviewAPI
The HVAC-R market is valued at $422.91 billion in 2023, set to grow at a CAGR of 6.33% to reach $781.05 billion by 2033. The Asia-Pacific region, particularly in emerging economies, is witnessing substantial expansion driven by urbanization and awareness of energy-efficient systems. Manufacturers are prioritizing environmentally sustainable products, with the residential sector leading the demand for energy efficiency, smart home integration, and indoor air quality.

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