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Analysis of HVAC Services Market 2019-2024: Industry Trends, Share, Size, Price, Revenue, Business Strategy, Production Technology Forecast to 2024


The “HVAC Services Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. HVAC Services Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. HVAC Services market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of HVAC Services Market Are:

  • Panasonic Corporation
  • Honeywell International Inc
  • LG Electronics
  • Siemens AG
  • Electrolux Ab
  • Ingersoll
  • Rand PLC
  • Carrier Corporation
  • Johnson Controls Inc
  • Daikin Industries Ltd
  • Nortek Global HVAC
  • Lennox International, Inc.
  • Fuijitsu General Ltd
  • Robert Bosch GmbH

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    Market Overview:

  • The HVAC Services Market is expected to register a CAGR of over 6.1% during the forecast period 2019 – 2024. Growing construction business in major emerging economies and the growing end-user markets, like data center market, etc., are major factors driving the growth of the HVAC services market, over the forecast period. Since the service firms rely extensively on labor for their operations, the existing demand and supply gap in the labor/HVAC technicians clubbed with high-cost technicians is expected to restrain the growth of the market.
  • Construction activity has a positive impact on not only the HVAC equipment market, but also the service market. With increased construction activity in emerging economies, the investments on infrastructure are on the rise, in order to cater to the increasing standard of living. The Asia-Pacific region tops world growth, with an expected 6.3% increase in GDP, in 2018, according to the World Bank. China, in particular, shows strong development, leading the region in terms of growth, innovation, and major investments. Moreover, both the International Monetary Fund and the World Bank predict that strong economic growth will continue in the region, until at least 2020, which will positively impact the construction sector, as the region is witnessing major investments in construction projects.
  • Thus, the installation and maintenance segment of the HVAC service market, is expected to benefit, due the increasing sales of HVAC equipment, through new construction projects. With regards to constructional developments globally, according to a report by Oxford Economies, construction output is forecasted to expand by 85%, to USD 15.5 trillion worldwide, in 2030, with regions like United States., China, and India accounting for 57% of the market growth.
  • Thus, the installation and maintenance segment of the HVAC service market, is expected to benefit, due the increasing sales of HVAC equipment, through new construction projects. With regards to constructional developments globally, according to a report by Oxford Economies, construction output is forecasted to expand by 85%, to USD 15.5 trillion worldwide, in 2030, with regions like United States., China, and India accounting for 57% of the market growth.
  • Scope of the Report:

  • The HVAC (heating, ventilation and air conditioning) services market includes the different services provided to the end users by the OEMs and other regional players. The services primarily include installation and system integration, maintenance, and repair, etc. The end users include building contractors and owners (non-residential), home owners, retail stores, food services companies, pharmaceutical, and healthcare companies, among others. The HVAC service market has a direct correlation with the HVAC equipment market. Any changes in demand for the equipment will impact the service market positively as higher demand for new equipment leads to higher installation or retrofitting services.

    HVAC Services Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global HVAC Services market?
    • What are the key market trends impacting the growth of the global HVAC Services market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global HVAC Services market?
    • What are the market opportunities and threats faced by the vendors in the global HVAC Services market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global HVAC Services market?

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    Key Market Trends:

    Residential Segment is expected to register a Significant Growth

    The demand for HVAC services in the residential sector, is primarily from Asia-Pacific, owing to the growing population, across the region, thereby leading to new installations. The demand in developed regions, like North America and Europe, is mainly from the maintenance and replacement services.

    In the wake of the global financial crisis and housing market collapse, an overhang of housing in many mature economies, led to a breakdown in prices of existing homes, and stifled new residential construction spending.

    Direct real estate investment, and increasing wealth and prosperity in regions such as APAC, Latin America, and the Middle East, are driven by economic growth. The increasing migration to existent and newly emerging cities, in these regions, is accelerating the demand for new homes.

    The robust construction of residential buildings, by the private sector, coupled with the government initiatives, to bridge emerging countries’ housing shortages, are also acting as significant factors, for the growth of the studied market.For instance, in the Philippines, the government estimated that the country’s residential sector growth could come in at an annual average of 10.3%, in real terms, from 2018-2026.

    According to data from the Housing and Urban Development Coordinating Council, the country’s social housing backlog is now at 5.6 million units. There were over 30,000 residential construction permits, issued by the end of the second quarter of 2017, 24% higher than in 2016.Recently, in 2018, rising rents across Toronto led to record-breaking sales, for multi-residential apartment buildings. The sales reached USD 1.2 billion, in the third quarter of 2018.

    The United States is Expected to Hold Major Share

    Growing government support, in the form of higher budget allocations, designed to increase home ownership and sustainable community development, and the increasing affordability of housing, may contribute to the ever growing residential construction sector.In 2017, the US government allocated a budget of USD 46.7 billion (an increase of 1.9% over the previous year), to support residential construction. The increasing population in the country may also contribute to the rising housing demand. The boom in the construction sector is likely to contribute to the expanding of the market for HVAC and HVAC services.

    The US Department of Energy (DOE) has released new efficiency standards, for commercial HVAC units, in which carbon emissions must be reduced, by up to 60 million metric tons, by 2030. According to these standards, specialized units should be manufactured, being able to provide energy-efficiency, and sustainable heating and cooling solutions.

    Increased construction activities, rapid urbanization, infrastructural reforms, and HVAC unit replacements, are some of the major factors supporting the growth of HVAC services market in the country.The DOE has invested almost USD 8 million, to replace old refrigerants, with energy efficient alternatives, which can minimize environmental threats posed by rooftop HVAC units.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the HVAC Services Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the HVAC Services.

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    Report Objectives:

    • Analyzing the size of the HVAC Services market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global HVAC Services market.
    • Determining the key dynamics of the HVAC Services market.
    • Highlighting significant trends of the HVAC Services market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the HVAC Services market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global HVAC Services market.

    Detailed TOC of HVAC Services Market Report 2019-2024:

    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study



    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Growing Construction Business In Major Emerging Economies
    4.3.2 Growing Data Center Market
    4.4 Market Restraints
    4.4.1 Labor Shortage/ High Costs Of Skilled Labor
    4.5 Value Chain / Supply Chain Analysis
    4.6 Industry Attractiveness Porters Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5.1 By Services
    5.1.1 Maintenance and Repair
    5.1.2 Installation
    5.2 By Implementation Type
    5.2.1 New Construction
    5.2.2 Retrofit Buildings
    5.3 By End User
    5.3.1 Residential
    5.3.2 Commercial
    5.3.3 Industrial
    5.4 Geography
    5.4.1 North America US Canada
    5.4.2 Europe Germany UK France Rest of Europe
    5.4.3 Asia Pacific China Japan India Rest of Asia-Pacific
    5.4.4 Latin America Brazil Argentina Mexico Rest of Latin America
    5.4.5 Middle East and Africa UAE Saudi Arabia South Africa Rest of Middle East and Africa

    6.1 Company Profiles
    6.1.1 Panasonic Corporation
    6.1.2 Honeywell International Inc
    6.1.3 LG Electronics
    6.1.4 Siemens AG
    6.1.5 Electrolux Ab
    6.1.6 Ingersoll-Rand PLC
    6.1.7 Carrier Corporation
    6.1.8 Johnson Controls Inc
    6.1.9 Daikin Industries Ltd
    6.1.10 Nortek Global HVAC
    6.1.11 Lennox International, Inc.
    6.1.12 Fuijitsu General Ltd
    6.1.13 Robert Bosch GmbH




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