HVAC Services Market: By Implementation Type (New Construction, Retrofit Buildings), By End User (Residential, Commercial, Industrial) and Geography    

HVAC Services Market size is valued at USD 55,587.9 million in 2022 and is poised to grow at a  CAGR of 6.2% from 2023 to 2029. The global market provides a detailed overview and that can be segmented by implementation type, and by end-user. By Implementation type, The HVAC Services 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 hvac services 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.

HVAC Services Market Key Development:

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.