HVAC Services Market: By Implementation Type, By End User and Region Forecast 2020-2031
HVAC Services Market: By Implementation Type, By End User and Region Forecast 2020-2031
HVAC Services Market size was valued at US$ 55,587.9 million in 2023 and is poised to grow at a CAGR of 6.2% from 2024 to 2030. The global market provides a detailed overview and that can be segmented by implementation type, and by end-user. By Implementation type, The market has been segmented into New Construction, Retrofit Buildings. The new construction segment is likely to be the largest and fastest-growing segment in terms of type. Based on end users the market is segmented into Residential, Commercial Greenhouse Irrigation System, and Industrial. Among these, the residential segment is expected to have the fastest-growing market during the forecast period 2022-2028 according to Precision Business Insights. By region, the North America market is expected to witness the highest market share during the forecast period due to increase in home ownership and sustainable community development, increase in the adoption of HVAC systems among the residential and commercial sectors, and technological advancements in the HVAC systems across the region.
In February 2020, Johnson Controls launched the fully integrated, factory-built and installed wrap-around heat exchangers (WAHX) to its YORK Solution Indoor and Outdoor air-handling units. This newly developed product will help the company in terms of meeting a growing need for energy-efficient dehumidification methods in a compact footprint.
Study Period
2025-2031Base Year
2024CAGR
6.2%Largest Market
North-AmericaFastest Growing Market
North-America
The growing construction business in major emerging economies and the growing end-user markets, such as the data center market, etc., are major factors driving the growth of the HVAC services market, over the forecast period.
North America market is expected to witness the highest market share during the forecast period due to increase in home ownership and sustainable community development.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2025-2031 |
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Market Size in 2023 |
US$ 55,587.9 million |
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Market CAGR |
6.2% |
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By Implementation Type |
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By End User |
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By Region |
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The hvac services market size is valued at US$ 55,587.9 million in 2023 and is poised to grow at a CAGR of 6.2% from 2024 to 2030.
The major players in the global market are Siemens AG, Honeywell International Inc., LG Electronics, Inc., Electrolux AB, Johnson Controls International PLC, Others
North America is the fastest-growing region in the market
| 1. Executive Summary |
| 2. Global HVAC Services Market Introduction |
| 2.1. Global HVAC Services Market – Taxonomy |
| 2.2. Global HVAC Services Market –Definitions |
| 2.2.1. By Implementation Type |
| 2.2.2. By End User |
| 2.2.3. By Region |
| 3. Global HVAC Services Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global HVAC Services Market Dynamic Factors - Impact Analysis |
| 3.6. Global HVAC Services Market – Competition Landscape |
| 4. Global HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global HVAC Services Market, By Implementation Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.1. New Construction |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Retrofit Buildings |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6. Global HVAC Services Market, By End User, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1. Residential |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Commercial |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Industrial |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global HVAC Services Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type, and Region, 2024 - 2030 |
| 8. North America HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 8.1. Implementation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. New Construction |
| 8.1.2. Retrofit Buildings |
| 8.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Residential |
| 8.2.2. Commercial |
| 8.2.3. Industrial |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. U.S. |
| 8.3.2. Canada |
| 8.4. North America HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type, and Country, 2024 - 2030 |
| 8.5. North America HVAC Services Market Dynamics – Trends |
| 9. Europe HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. Implementation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. New Construction |
| 9.1.2. Retrofit Buildings |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Residential |
| 9.2.2. Commercial |
| 9.2.3. Industrial |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type and Country, 2024 - 2030 |
| 9.5. Europe HVAC Services Market Dynamics – Trends |
| 10. Asia-Pacific HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 10.1. Implementation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. New Construction |
| 10.1.2. Retrofit Buildings |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Residential |
| 10.2.2. Commercial |
| 10.2.3. Industrial |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type and Country, 2024 - 2030 |
| 10.5. Asia-Pacific HVAC Services Market Dynamics – Trends |
| 11. Latin America HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2022 – 2028 |
| 11.1. Implementation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. New Construction |
| 11.1.2. Retrofit Buildings |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Residential |
| 11.2.2. Commercial |
| 11.2.3. Industrial |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type, and Country, 2024 - 2030 |
| 11.5. Latin America HVAC Services Market Dynamics – Trends |
| 12. Middle East and Africa HVAC Services Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn ) |
| 12.1. Implementation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. New Construction |
| 12.1.2. Retrofit Buildings |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Residential |
| 12.2.2. Commercial |
| 12.2.3. Industrial |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA HVAC Services Market - Opportunity Analysis Index, By Implementation Type, By End User Type, Country, 2024 - 2030 |
| 12.5. MEA HVAC Services Market Dynamics – Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Implementation Type & Service Implementation Types, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Siemens AG |
| 13.2.2. Honeywell International Inc. |
| 13.2.3. LG Electronics, Inc. |
| 13.2.4. Electrolux AB |
| 13.2.5. Johnson Controls International PLC |
| 13.2.6. Others |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
Key Market Players
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