The heating, ventilation, and air conditioning (hvac) equipment market size has grown strongly in recent years. It will grow from $179.25 billion in 2025 to $193.06 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growth of residential and commercial construction, rising need for indoor climate control, early adoption of efficient heating and cooling, expansion of urban infrastructure, increasing demand for air quality systems.
The heating, ventilation, and air conditioning (hvac) equipment market size is expected to see strong growth in the next few years. It will grow to $256.77 billion in 2030 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising shift to smart hvac solutions, increased adoption of energy-efficient systems, expansion of building automation technologies, growth in sustainable cooling methods, rising investments in domestic hvac manufacturing. Major trends in the forecast period include growth in smart hvac control systems, adoption of energy-efficient hvac technologies, integration of IOT-enabled building management tools, expansion of predictive hvac maintenance, increased use of AI-driven optimization.
The growth in residential building construction is expected to boost the heating, ventilation, and air conditioning (HVAC) equipment market. Residential buildings include single-family homes, apartment complexes, townhouses, and condominiums, and their construction is on the rise due to rapid urbanization, increased migration to cities for better job prospects, and low interest rates making home financing more accessible. HVAC systems are essential for residential buildings as they ensure indoor comfort, improve air quality, enhance energy efficiency, and maintain the structural integrity of the building. For example, in August 2024, the US Census Bureau reported that privately-owned housing completions in July reached a seasonally adjusted annual rate of 1,529,000, a 13.8% increase from the previous year. Single-family housing completions also rose by 0.5% to a rate of 1,054,000 from June. This increase in residential construction is driving the HVAC equipment market.
Key players in the HVAC equipment market are focusing on developing advanced products with comprehensive solutions that improve energy efficiency, air purification, and user control. New HVAC solutions include systems that integrate smart technology, energy-saving features, and sustainability to deliver optimal performance and comfort. For instance, in April 2024, Voltas Limited, an India-based home appliance company, unveiled its new HVAC product line at the ACREX India 2024 exhibition. The lineup features advanced room air conditioners with energy-saving technologies, smart functionalities, and variable refrigerant flow (VRF) systems for larger commercial spaces, offering better temperature control flexibility. Additionally, Voltas introduced high-capacity chillers for industrial use and light commercial air conditioners for smaller businesses. A notable product is the Voltas SmartAir AC series, which includes smart inverter air conditioners with IoT capabilities for remote monitoring and control, enhancing convenience and energy management.
In October 2024, Valley Air Heating, Cooling, & Plumbing, a US-based provider of HVAC and plumbing services, acquired Excel Heating & Cooling for an undisclosed amount. This acquisition reflects Valley Air's commitment to expanding its service capacity and improving operational efficiency within the HVAC industry. The goal is to enhance customer service by increasing resources and strengthening its workforce, thereby ensuring a broader service area and continued reliability. Excel Heating & Cooling is a US-based company that offers high-quality heating, ventilation, and air conditioning (HVAC) services.
Major companies operating in the heating, ventilation, and air conditioning (hvac) equipment market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Hitachi Ltd, LG Electronics Inc., Panasonic Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Fujitsu Limited, Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation plc, Carrier Global Corporation, Trane Technologies plc, Lennox International Inc., Grundfos Holding A/S, Goodman Manufacturing Company L.P., AS America Inc., Rinnai Corporation, Modine Manufacturing Company, Rheem Manufacturing Company, Eureka Forbes Limited, Baltimore Aircoil Company Inc., ClimateMaster Inc., York International Corporation, GREE Electric Appliances Inc., Dimplex North America Limited, Navien Inc., Soler & Palau Ventilation Group S.A.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are influencing the HVAC equipment market by increasing costs for imported compressors, heat exchangers, electronic control boards, and metal components. Commercial, residential, and industrial HVAC installations depending on global component sourcing face higher equipment and installation prices. Still, tariffs are encouraging domestic manufacturing investments and promoting regional production of key HVAC components, improving supply-chain stability.
The heating, ventilation, and air conditioning (HVAC) equipment market research report is one of a series of new reports that provides heating, ventilation, and air conditioning (HVAC) equipment market statistics, including heating, ventilation, and air conditioning (HVAC) equipment industry global market size, regional shares, competitors with a heating, ventilation, and air conditioning (HVAC) equipment market share, detailed heating, ventilation, and air conditioning (HVAC) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the heating, ventilation, and air conditioning (HVAC) equipment industry. This heating, ventilation, and air conditioning (HVAC) equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Heating, ventilation, and air conditioning (HVAC) equipment encompasses systems and devices designed to manage indoor climate and air quality in buildings, ensuring comfort and safety. These systems control temperature, humidity, and airflow to create a healthy and comfortable environment in residential, commercial, and industrial settings.
The primary types of HVAC equipment include heating, air conditioning, ventilation, and other systems. Heating equipment refers to devices and systems that generate and distribute heat throughout a building or space. This category also includes a range of services such as installation, maintenance, repair, upgrade or replacement, and consulting, applicable to both central and decentralized systems. These services support various business needs, including new construction and retrofits, and cater to end users in residential, commercial, and industrial sectors.Asia-Pacific was the largest region in the heating, ventilation, and air conditioning (HVAC) equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heating, ventilation, and air conditioning (HVAC) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heating, ventilation, and air conditioning (HVAC) equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heating, ventilation, and air conditioning (HVAC) equipment market consists of sales of furnaces, boilers, heat pumps, air handlers, exhaust fans, central air conditioners, and window units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The heating, ventilation, and air conditioning (hvac) equipment market size is expected to see strong growth in the next few years. It will grow to $256.77 billion in 2030 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to rising shift to smart hvac solutions, increased adoption of energy-efficient systems, expansion of building automation technologies, growth in sustainable cooling methods, rising investments in domestic hvac manufacturing. Major trends in the forecast period include growth in smart hvac control systems, adoption of energy-efficient hvac technologies, integration of IOT-enabled building management tools, expansion of predictive hvac maintenance, increased use of AI-driven optimization.
The growth in residential building construction is expected to boost the heating, ventilation, and air conditioning (HVAC) equipment market. Residential buildings include single-family homes, apartment complexes, townhouses, and condominiums, and their construction is on the rise due to rapid urbanization, increased migration to cities for better job prospects, and low interest rates making home financing more accessible. HVAC systems are essential for residential buildings as they ensure indoor comfort, improve air quality, enhance energy efficiency, and maintain the structural integrity of the building. For example, in August 2024, the US Census Bureau reported that privately-owned housing completions in July reached a seasonally adjusted annual rate of 1,529,000, a 13.8% increase from the previous year. Single-family housing completions also rose by 0.5% to a rate of 1,054,000 from June. This increase in residential construction is driving the HVAC equipment market.
Key players in the HVAC equipment market are focusing on developing advanced products with comprehensive solutions that improve energy efficiency, air purification, and user control. New HVAC solutions include systems that integrate smart technology, energy-saving features, and sustainability to deliver optimal performance and comfort. For instance, in April 2024, Voltas Limited, an India-based home appliance company, unveiled its new HVAC product line at the ACREX India 2024 exhibition. The lineup features advanced room air conditioners with energy-saving technologies, smart functionalities, and variable refrigerant flow (VRF) systems for larger commercial spaces, offering better temperature control flexibility. Additionally, Voltas introduced high-capacity chillers for industrial use and light commercial air conditioners for smaller businesses. A notable product is the Voltas SmartAir AC series, which includes smart inverter air conditioners with IoT capabilities for remote monitoring and control, enhancing convenience and energy management.
In October 2024, Valley Air Heating, Cooling, & Plumbing, a US-based provider of HVAC and plumbing services, acquired Excel Heating & Cooling for an undisclosed amount. This acquisition reflects Valley Air's commitment to expanding its service capacity and improving operational efficiency within the HVAC industry. The goal is to enhance customer service by increasing resources and strengthening its workforce, thereby ensuring a broader service area and continued reliability. Excel Heating & Cooling is a US-based company that offers high-quality heating, ventilation, and air conditioning (HVAC) services.
Major companies operating in the heating, ventilation, and air conditioning (hvac) equipment market are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Hitachi Ltd, LG Electronics Inc., Panasonic Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Fujitsu Limited, Daikin Industries Ltd., Toshiba Corporation, Johnson Controls International plc, Eaton Corporation plc, Carrier Global Corporation, Trane Technologies plc, Lennox International Inc., Grundfos Holding A/S, Goodman Manufacturing Company L.P., AS America Inc., Rinnai Corporation, Modine Manufacturing Company, Rheem Manufacturing Company, Eureka Forbes Limited, Baltimore Aircoil Company Inc., ClimateMaster Inc., York International Corporation, GREE Electric Appliances Inc., Dimplex North America Limited, Navien Inc., Soler & Palau Ventilation Group S.A.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are influencing the HVAC equipment market by increasing costs for imported compressors, heat exchangers, electronic control boards, and metal components. Commercial, residential, and industrial HVAC installations depending on global component sourcing face higher equipment and installation prices. Still, tariffs are encouraging domestic manufacturing investments and promoting regional production of key HVAC components, improving supply-chain stability.
The heating, ventilation, and air conditioning (HVAC) equipment market research report is one of a series of new reports that provides heating, ventilation, and air conditioning (HVAC) equipment market statistics, including heating, ventilation, and air conditioning (HVAC) equipment industry global market size, regional shares, competitors with a heating, ventilation, and air conditioning (HVAC) equipment market share, detailed heating, ventilation, and air conditioning (HVAC) equipment market segments, market trends and opportunities, and any further data you may need to thrive in the heating, ventilation, and air conditioning (HVAC) equipment industry. This heating, ventilation, and air conditioning (HVAC) equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Heating, ventilation, and air conditioning (HVAC) equipment encompasses systems and devices designed to manage indoor climate and air quality in buildings, ensuring comfort and safety. These systems control temperature, humidity, and airflow to create a healthy and comfortable environment in residential, commercial, and industrial settings.
The primary types of HVAC equipment include heating, air conditioning, ventilation, and other systems. Heating equipment refers to devices and systems that generate and distribute heat throughout a building or space. This category also includes a range of services such as installation, maintenance, repair, upgrade or replacement, and consulting, applicable to both central and decentralized systems. These services support various business needs, including new construction and retrofits, and cater to end users in residential, commercial, and industrial sectors.Asia-Pacific was the largest region in the heating, ventilation, and air conditioning (HVAC) equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the heating, ventilation, and air conditioning (HVAC) equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heating, ventilation, and air conditioning (HVAC) equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The heating, ventilation, and air conditioning (HVAC) equipment market consists of sales of furnaces, boilers, heat pumps, air handlers, exhaust fans, central air conditioners, and window units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Characteristics
3. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Supply Chain Analysis
4. Global Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Trends and Strategies
5. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Analysis of End Use Industries
7. Global Heating, Ventilation, and Air Conditioning (HVAC) Equipment Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
8. Global Heating, Ventilation, and Air Conditioning (HVAC) Equipment Total Addressable Market (TAM) Analysis for the Market
9. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Segmentation
10. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Regional and Country Analysis
11. Asia-Pacific Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
12. China Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
13. India Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
14. Japan Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
15. Australia Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
16. Indonesia Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
17. South Korea Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
18. Taiwan Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
19. South East Asia Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
20. Western Europe Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
21. UK Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
22. Germany Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
23. France Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
24. Italy Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
25. Spain Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
26. Eastern Europe Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
27. Russia Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
28. North America Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
29. USA Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
30. Canada Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
31. South America Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
32. Brazil Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
33. Middle East Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
34. Africa Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market
36. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Competitive Landscape and Company Profiles
37. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market Other Major and Innovative Companies
40. Heating, Ventilation, and Air Conditioning (HVAC) Equipment Market High Potential Countries, Segments and Strategies
41. Appendix
Executive Summary
Heating, Ventilation, And Air Conditioning (HVAC ) Equipment Market Global Report 2026 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses heating, ventilation, and air conditioning (hvac ) equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Benchmark performance against key competitors based on market share, innovation, and brand strength.
- Evaluate the total addressable market (TAM) and market attractiveness scoring to measure market potential.
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Description
Where is the largest and fastest growing market for heating, ventilation, and air conditioning (hvac ) equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The heating, ventilation, and air conditioning (hvac ) equipment market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
- The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
- The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
- The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
- The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.
Scope
Markets Covered:
1) By Type: Heating; Air Conditioning; Ventilation; Other Types2) By Service Type: Installation Services; Maintenance And Repair Services; Upgradation Or Replacement Services; Consulting Services
3) By System Type: Central; Decentralized
4) By Business Type: New Construction; Retrofits
5) By End-User: Residential; Commercial; Industrial
Subsegments:
1) By Heating: Furnaces; Heat Pumps; Boilers; Radiant Heating Systems2) By Air Conditioning: Central Air Conditioners; Ductless Mini-Split Systems; Portable Air Conditioners; Window Air Conditioners
3) By Ventilation: Exhaust Fans; Air Handling Units (AHUs); Ventilation Fans; Energy Recovery Ventilators (ERVs)
4) By Other Types: Thermostats and Controls; Air Quality Equipment; Humidifiers And Dehumidifiers; HVAC Accessories And Components
Companies Mentioned: Samsung Electronics Co. Ltd.; Robert Bosch GmbH; Hitachi Ltd; LG Electronics Inc.; Panasonic Corporation; Mitsubishi Electric Corporation; Honeywell International Inc.; Fujitsu Limited; Daikin Industries Ltd.; Toshiba Corporation; Johnson Controls International plc; Eaton Corporation plc; Carrier Global Corporation; Trane Technologies plc; Lennox International Inc.; Grundfos Holding A/S; Goodman Manufacturing Company L.P.; AS America Inc.; Rinnai Corporation; Modine Manufacturing Company; Rheem Manufacturing Company; Eureka Forbes Limited; Baltimore Aircoil Company Inc.; ClimateMaster Inc.; York International Corporation; GREE Electric Appliances Inc.; Dimplex North America Limited; Navien Inc.; Soler & Palau Ventilation Group S.A
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: Word, PDF or Interactive Report + Excel Dashboard
Added Benefits:
- Bi-Annual Data Update
- Customisation
- Expert Consultant Support
Companies Mentioned
The companies featured in this Heating, Ventilation, and Air Conditioning (HVAC ) Equipment market report include:- Samsung Electronics Co. Ltd.
- Robert Bosch GmbH
- Hitachi Ltd
- LG Electronics Inc.
- Panasonic Corporation
- Mitsubishi Electric Corporation
- Honeywell International Inc.
- Fujitsu Limited
- Daikin Industries Ltd.
- Toshiba Corporation
- Johnson Controls International plc
- Eaton Corporation plc
- Carrier Global Corporation
- Trane Technologies plc
- Lennox International Inc.
- Grundfos Holding A/S
- Goodman Manufacturing Company L.P.
- AS America Inc.
- Rinnai Corporation
- Modine Manufacturing Company
- Rheem Manufacturing Company
- Eureka Forbes Limited
- Baltimore Aircoil Company Inc.
- ClimateMaster Inc.
- York International Corporation
- GREE Electric Appliances Inc.
- Dimplex North America Limited
- Navien Inc.
- Soler & Palau Ventilation Group S.A
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2026 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value ( USD | $ 193.06 Billion |
| Forecasted Market Value ( USD | $ 256.77 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 29 |
