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HVAC Market: 53% of Growth to Come from APAC, Report on AI-Driven Market Transformation – Technavio

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NEW YORK, Dec. 12, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global HVAC market size is estimated to grow by USD 74.02 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of almost 6.5% during the forecast period.

For comprehensive forecast and historic data on regions,market segments, customer landscape, and companies- Click for the snapshot of this report

Report Attribute

Details

Base Year

2023

Forecast period

2024-2028

Historic Data for

2018 – 2022

Segments Covered

Type (HVAC equipment and HVAC services), End-user (Non-residential and Residential), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Key Companies Covered

ABM Industries Inc., Air Comfort, Alexander Mechanical Inc., Blue Star Ltd., Carrier Global Corp., Daikin Industries Ltd., EMCOR Group Inc., Emerson Electric Co., ENGIE SA, Ferguson plc, Fujitsu Ltd., Ingersoll Rand Inc., J and J Air Conditioning, Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Nortek, Samsung Electronics Co. Ltd., Service Logic, Siemens AG, Carrier Corporation; Daikin Industries, Ltd.; Fujitsu; Haier Group; Havells India Ltd.; Hitachi Ltd.; Johnson Controls; LG Electronics; Lennox International Inc.; Mitsubishi Electric Corporation; Rheem Manufacturing Company; SAMSUNG; Trane

Regions Covered

APAC, Europe, North America, Middle East and Africa, and South America

Region Outlook

North AmericaEuropeAsiaRest of World

1. APAC – APAC is estimated to contribute 53%. To the growth of the global market. The HVAC Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

The Asia Pacific (APAC) region is the largest market for Heating, Ventilation, and Air Conditioning (HVAC) systems, driven by factors such as population growth, unfavorable climatic conditions, and increasing urbanization. The expanding commercial construction sector, particularly in China and India, is the primary growth driver. Regulations and efficiency norms in these countries, including India and China, will further fuel market expansion during the forecast period. According to World Bank data, the population in APAC countries, including China and India, has grown significantly. For instance, China’s population increased from 1.40 billion in 2017 to 1.42 billion in 2023, and India’s population grew from 1.34 billion in 2017 to 1.38 billion in 2023.

For more insights on APAC’s significant contribution along with the market share of rest of the regions and countries – Download a FREE Sample

Segmentation Overview

Type 1.1 HVAC equipment1.2 HVAC servicesEnd-user 2.1 Non-residential2.2 ResidentialGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

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1.1 Fastest growing segment:

The global HVAC market is experiencing significant growth due to various factors, including the increasing population and industrialization, rising construction expenditure, and increasing sales of commercial and residential buildings. The HVAC market can be segmented into three main categories: air conditioning, heating, and ventilation. In the air conditioning segment, heat pumps, air conditioners (ACs) for rooms, unitary ACs, and other types such as split, chillers, airside, packaged, variable refrigerant flow (VRF), window, and portable ACs are witnessing increased demand in both residential and non-residential buildings. Manufacturers are focusing on developing cost-effective and energy-efficient equipment that meets energy efficiency and green technology regulations. Additionally, there is a growing demand for eco-friendly and sustainable equipment that reduces chlorofluorocarbon (CFC) and hydrofluorocarbon (HFC) emissions. In the heating segment, heating equipment saves up to 80% more energy than fossil fuel-based systems, making it a popular choice worldwide. The extreme climatic conditions in North America and Europe are major drivers for heating equipment. The rise in construction activities and replacement demand in Europe and the Americas, along with increasing construction in developing countries such as China and India, is creating a significant demand for heating equipment. In the ventilation segment, the rise in construction activities in both residential and non-residential segments is driving the growth of the global HVAC market. Ventilation systems help maintain air quality and air temperature indoors by exchanging fresh air. The various types of ventilation equipment include different fans, heat recovery ventilation (HRV) units, and air handling units (AHUs). Fans, such as axial, centrifugal, cross-flow, domestic exhaust, and roof/attic fans, help maintain air circulation and temperature. HRV units swap the heat between inbound and outbound airflow, improving climate control and providing fresh air. AHUs help condition and circulate the air, comprising large metal boxes with blowers, heating or cooling elements, filter racks, sound attenuators, and dampers. In conclusion, the global HVAC market is experiencing growth due to the increasing demand for energy-efficient and eco-friendly equipment in both residential and non-residential sectors. The market can be segmented into air conditioning, heating, and ventilation, with each segment witnessing significant growth due to various factors. Manufacturers are focusing on developing cost-effective and energy-efficient equipment that meets energy efficiency and green technology regulations while reducing CFC and HFC emissions. The rise in construction activities, replacement demand, and extreme climatic conditions are major drivers for the growth of the global HVAC market.

Research Analysis

The HVAC system industry encompasses the design, manufacture, installation, and maintenance of heating, ventilation, and air conditioning systems for residential, commercial, and industrial buildings. HVAC systems provide climate control technologies essential for comfort and indoor air quality, addressing the challenges of climatic changes and energy consumption in the construction sector. Residential, commercial, and industrial buildings all require HVAC systems for heating, cooling, and energy-saving solutions. HVAC regulations, such as the SEER2 regulation and the phase-out of R-22 refrigerant, drive innovation in energy efficiency and the adoption of sustainable and smart HVAC systems, including A2L refrigerant, R-410 refrigerant, condensing boilers, ductless systems, and net-zero buildings. Affordable housing units and smart building solutions are increasingly adopting energy-saving HVAC technologies, reducing overall energy consumption and carbon emissions. Furnace systems, boiler systems, and smart HVAC systems are essential components of these solutions, ensuring comfort and efficiency while minimizing environmental impact. Climate control technologies continue to evolve, with a focus on energy efficiency, sustainability, and cost savings. HVAC systems play a crucial role in creating comfortable living and working environments while addressing the challenges of climatic changes and energy consumption in the construction sector.

Market Overview

The HVAC system industry encompasses the design, production, and installation of heating, ventilation, and air conditioning systems for residential, commercial, and industrial buildings. Climate control technologies have become increasingly important due to climatic changes and energy consumption concerns. The construction sector, population growth, and industrialization are major drivers of the HVAC market. Indoor air quality, energy efficiency, and thermal comfort are key considerations for both residential and commercial HVAC systems. Programmable thermostats, Internet of Things, and smart HVAC systems are gaining popularity for their energy-saving capabilities. VRF systems, heat pumps, air filters, and HEPA filters are essential components of modern HVAC systems. Green buildings and energy efficiency requirements are shaping the industry, with LEED certification and net-zero buildings leading the way. The HVAC market is also influenced by regulations such as SEER2 and the use of energy-saving products like R-410 refrigerant and A2L refrigerant. AI-based automated solutions, sustainable practices, and building codes are modern trends in the industry. The residential segment focuses on affordable housing units, while the commercial HVAC systems cater to commercial infrastructure. Energy-efficient solutions, sustainable practices, and environmental impact are crucial factors in the HVAC industry. HVAC regulations, cooling segment, ductless HVAC systems, and modern building practices are also significant areas of development. ChatGPT model can help answer queries related to HVAC systems, including AC, furnace systems, boiler systems, and ductless mini-split systems. The retrofit segment and real estate market are also influenced by the HVAC industry’s trends and innovations.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
11.1 Carrier Corporation
11.2 Daikin Industries, Ltd
11.3 Fujitsu
11.4 Haier Group
11.5 Havells India Ltd
11.6 Hitachi Ltd
11.7 Johnson Controls
11.8 LG Electronics
11.9 Lennox International Inc
11.10 Mitsubishi Electric Corporation
11.11 Rheem Manufacturing Company
11.12 SAMSUNG
11.13 Trane
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Portland General Electric declares dividend

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PORTLAND, Ore., July 24, 2026 /PRNewswire/ — The board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.55125 per share.

The company’s dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.

The quarterly dividend is payable on or before October 15, 2026, to shareholders of record at the close of business on September 25, 2026.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to nearly 960,000 customers serving an area of approximately 2 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering economies, delivering safe, affordable and reliable electricity while working to transform energy systems to meet evolving customer needs. PGE continues to make progress towards emissions reduction targets, and customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE is ranked a top ten utility in the 2025 Forrester U.S. Customer Experience Index. In 2025, PGE employees and retirees volunteered over 18,300 hours to more than 400 nonprofits organizations. Through the PGE Foundation, along with corporate contributions and the employee matching gift program, more than $5 million was directed to charitable organizations supporting economic growth and community resilience across our service area. For information: portlandgeneral.com/news.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

Forward-looking statements include statements, other than statements of historical or current fact, regarding the Company’s amount and timing of dividends payable as well as other statements containing words such as “committed to,” “targets,” or similar expressions.

There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; the timing or amount of dividends paid; the timing or outcome of various legal and regulatory actions; changes in the Company’s business strategy; increases in capital expenditures; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the United States Securities and Exchange Commission (SEC), including our annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports on Form 10-Q. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

Media Contact:
Drew Hanson
Corporate Communications
Phone: 503-464-2067

Investor Contact:
Erin Schwartz
Investor Relations
Phone: 503-464-7751

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-302834503.html

SOURCE Portland General Company

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Care Career Announces Acquisition of MAS Medical Staffing, Completing Its First Acquisition Phase and Expanding Annual Revenue Beyond $150 Million, with a Path to Exceed a Quarter Billion by the End of 2026 Through Additional Acquisitions and Organic Growth

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WOODBRIDGE, N.J., July 24, 2026 /PRNewswire/ — Care Career, a rapidly growing healthcare workforce technology organization, today announced the acquisition of MAS Medical Staffing, one of the Northeast’s leading healthcare workforce organizations. Financial terms of the transaction were not disclosed.

The acquisition represents Care Career’s seventh strategic acquisition in the past 24 months, further strengthening the company’s position as one of the largest healthcare workforce organizations in the United States while accelerating its strategy to redefine the future of healthcare workforce management through artificial intelligence, enterprise technology, and workforce innovation.

MAS Medical Staffing has built an outstanding reputation for delivering high-quality workforce solutions through strong client relationships, exceptional clinician engagement, and deep regional expertise throughout the Northeastern United States. The acquisition significantly expands Care Career’s geographic footprint while broadening its access to healthcare professionals, client relationships, workforce data, and regional market intelligence.

Care Career is building a technology-enabled workforce ecosystem powered by its AI-powered workforce platform, where every acquisition contributes not only additional market presence, but also expanded data, enhanced artificial intelligence capabilities, digital innovation, and operational scale that continuously improve the experience for clients and clinicians alike. As the platform grows, every clinician engagement, client interaction, credential, placement, and workforce trend strengthens the intelligence of Career’s technology, creating a continuously improving ecosystem designed to deliver faster, smarter, and more effective workforce solutions.

The acquisition also brings MAS Medical Staffing’s MAESTRA® engagement technology, along with its client relationships and clinician network, directly onto Career’s AI-powered workforce platform. MAESTRA’s scheduling, credentialing, and communication capabilities will be integrated into Care Career’s existing technology stack, further enhancing clinician engagement across onboarding, scheduling, and career management while providing healthcare organizations with greater workforce visibility and operational efficiency.

“Our vision is to build the AI-powered infrastructure that modernizes healthcare workforce management,” said Siva Konatham, Group President and Chief Executive Officer of Care Career. “Under my leadership, Care Career is focused on transforming a fragmented, labor-intensive industry into a data-driven, technology-enabled ecosystem that improves speed, efficiency, and workforce visibility for healthcare providers. Each acquisition strengthens our platform intelligence, expands our scale, and enhances our margin potential. By integrating advanced analytics, AI automation, and digital engagement tools, we are not just growing revenue—we are building a smarter, more scalable model positioned to lead the next era of healthcare workforce solutions.”

The combined organization will leverage expanded recruiting resources, centralized credentialing, advanced workforce analytics, AI-enabled automation, and digital engagement technologies—all powered by Care Career’s AI-powered workforce platform—to deliver broader recruiting capabilities, faster response times, enhanced workforce insights, and expanded national coverage. Clinicians will benefit from a seamless digital experience that simplifies every stage of their careers—from job discovery and credentialing to onboarding, scheduling, communication, and long-term career development.

With seven strategic acquisitions completed in less than two years, representing the first round of acquisitions now totaling more than $150 million in annual revenue, Care Career has rapidly expanded its national presence while executing a disciplined growth strategy focused on technology integration, operational excellence, and workforce innovation. The company has also signed additional Letters of Intent with other entities with expected close dates in the third quarter of 2026. Upon completion of these transactions, coupled with organic growth, Care Career expects consolidated annual revenue to exceed a quarter of a billion dollars by the end of 2026.

The addition of MAS Medical Staffing further strengthens the organization’s ability to serve healthcare systems, hospitals, long-term care providers, outpatient facilities, and other healthcare organizations across an increasingly diverse geographic footprint.

“The healthcare workforce industry is entering a new era where technology, artificial intelligence, and data-driven decision-making will define the market leaders,” Konatham added. “Every acquisition we complete expands the intelligence of our AI-powered workforce platform, enhances the value we deliver to our clients, and creates more opportunities for clinicians. We believe the combination of exceptional people, innovative technology, and strategic scale positions Care Career to lead the next generation of healthcare workforce solutions.”

About Care Career

Care Career is a technology-enabled healthcare workforce solutions company dedicated to transforming how healthcare organizations recruit, engage, credential, deploy, and retain clinical talent. Powered by its proprietary AI-powered workforce platform and supported by advanced artificial intelligence, enterprise technology, and workforce analytics, Care Career is building an intelligent healthcare workforce ecosystem that connects providers and clinicians more efficiently while improving workforce performance, operational effectiveness, and patient care. Following seven strategic acquisitions over the past 24 months the first round of acquisitions totaling more than $150 million in annual revenue and with additional signed LOIs under contract expected to complete shortly, positioning the company to surpass a quarter of a billion dollars in consolidated annual revenue by the end of 2026, Care Career has become one of the nation’s largest and fastest-growing healthcare workforce organizations, serving healthcare providers and clinicians across the United States.

About MAS Medical Staffing

MAS Medical Staffing is a premier healthcare workforce organization recognized for exceptional service, strong client partnerships, and a commitment to connecting healthcare professionals with rewarding career opportunities. With an established presence throughout the Northeastern United States, MAS Medical Staffing has earned a reputation for quality, responsiveness, and delivering workforce solutions that help healthcare providers meet their evolving workforce needs while supporting clinicians throughout every stage of their careers.

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SOURCE Care Career

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PointsKash Demonstrates How Businesses Can Build on Bitcoin Without Burdening the Blockchain

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As industry debate surrounding Bitcoin Improvement Proposal (BIP-110) intensifies, PointsKash unveils an architecture designed to work regardless of the proposal’s outcome.

SCOTTSDALE, Ariz., July 24, 2026 /PRNewswire/ — As the global Bitcoin community debates Bitcoin Improvement Proposal 110 (BIP-110) and the future of data stored on the Bitcoin blockchain, PointsKash, Inc. today announced that its next-generation kiosk infrastructure was intentionally designed to operate efficiently under any outcome of the proposal.

Rather than storing operational data directly on the Bitcoin blockchain, PointsKash utilizes a layered architecture that combines Bitcoin‘s unmatched security with modern decentralized communications technology. Every transaction, machine event, system update, and operational record generated across the PointsKash network is cryptographically verified, securely maintained off-chain, and anchored to the Bitcoin blockchain through a single immutable cryptographic proof.

This approach allows thousands of operational events to be permanently verified while utilizing only a minimal amount of blockchain data.

As discussion surrounding BIP-110 has intensified across the digital asset industry, PointsKash believes the debate does not require choosing between innovation and responsible blockchain stewardship.

“The industry has been debating whether businesses can build meaningful applications on Bitcoin without unnecessarily consuming blockchain space,” said Michael Herron, Chief Executive Officer of PointsKash. “We believe we’ve demonstrated that the answer is yes. Bitcoin provides the world’s most trusted immutable timestamp and security layer, while higher-volume operational data belongs on technologies specifically designed to manage it. By combining both, we’ve built an architecture that is scalable, transparent, and future-ready regardless of how the BIP-110 discussion ultimately evolves.”

The company’s infrastructure assigns every kiosk its own unique cryptographic identity, allowing each machine to securely authenticate every transaction and operational event. Those records are then independently verifiable through cryptographic proofs while remaining resistant to alteration or manipulation—even by PointsKash itself.

According to the company, this architecture delivers several significant advantages:

Mathematically verifiable transaction records for regulators, banking partners, auditors, and enterprise customers.Improved network reliability, allowing kiosks to continue operating during temporary connectivity interruptions without losing transaction history.Enhanced cybersecurity, with every machine maintaining its own authenticated identity and secure communications.A scalable blockchain architecture that minimizes on-chain data while preserving complete auditability.

Bitcoin was created to provide trust, security, and permanence—not to become a storage system for every piece of application data,” Herron added. “Our philosophy has always been simple: use Bitcoin for what it does better than anyone else—creating immutable proof that records have never been altered—and leverage modern decentralized technologies for everything else. We believe that’s the future of enterprise blockchain infrastructure.”

PointsKash believes this architecture positions the company among a new generation of fintech innovators utilizing Bitcoin as a secure trust layer while developing scalable financial applications for enterprise deployment.

The technology also establishes the foundation for future blockchain-based financial products currently under development, including enhanced digital audit capabilities, verifiable financial records, enterprise licensing opportunities, and next-generation digital asset infrastructure.

As the Bitcoin ecosystem continues to mature, PointsKash believes its technology demonstrates that responsible innovation and blockchain scalability can successfully coexist—providing enterprise organizations with the confidence to build on Bitcoin without contributing unnecessary data to the network.

About PointsKash, Inc.

PointsKash, Inc. is a financial technology company developing an integrated ecosystem of AI-enabled self-service financial centers, digital banking, digital payment solutions, cryptocurrency services, loyalty rewards, enterprise merchant technologies, and mobile financial applications. Through proprietary software, Artificial Intelligence, and strategic partnerships, PointsKash is building innovative financial solutions designed to empower consumers, merchants, and enterprise organizations throughout North America.

For more information, visit www.pointskash.com.

Media Contact

PointsKash, Inc.
Investor Relations
info@pointskash.com
www.pointskash.com

Forward-Looking Statements

This press release contains forward-looking statements regarding anticipated technology integrations, Artificial Intelligence initiatives, product development, future commercialization plans, expected operational efficiencies, business strategy, and future growth. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could affect actual results include, but are not limited to, technology development timelines, integration efforts, financing, regulatory developments, market conditions, and other risks facing the Company. PointsKash undertakes no obligation to update any forward-looking statements except as required by applicable law.

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SOURCE PointsKash Inc.

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