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Canada HVAC market to reach $8.85 billion by 2031 as heat pumps gain ground

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  • Canada's HVAC market is forecast to expand as heat-pump adoption accelerates.
  • USD 5.98 billion in 2026 is projected to become USD 8.85 billion by 2031.
  • Retrofit and replacement projects represented 62.35% of Canada's market in 2025.
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