The global Heating, Ventilation, Air Conditioning, and Refrigeration (HVACR) market value is expected to reach $251.6 billion by 2023, growing at an annualized rate of 6.8% during the forecast period, according to Research and Markets. 1 Heightened emphasis on energy conservation as a result of increased environmental concerns and government regulations has promoted energy efficient designs in new building and retrofit construction. Increased utilization of advanced cost-saving HVACR systems that monitor and preserve energy usage is expected to drive consolidation as HVACR companies look to increase scale and capabilities to capture growth in the residential, commercial, and retrofit construction industry. READ MORE