NEW YORK, Oct. 5, 2021 /PRNewswire/ --
The global HVAC services market is expected to grow by USD 21.52 million during 2021-2025. However, the market's growth momentum is expected to decelerate at a CAGR of over 6% during the forecast period.
The market is driven by the development of EV charging infrastructure and the growing demand for replacements in developed countries. However, the high cost of batteries used in EVs will challenge growth.
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HVAC Services Market: End-user Landscape
By end-user, the market witnessed significant demand for HVAC services from the non-residential segment in 2020. The market growth in the non-residential end-user segment will be significant during the forecast period.
HVAC Services Market: Geographic Landscape
By geography, APAC is going to have lucrative growth during the forecast period. About 46% of the market's overall growth is expected to originate from APAC. China, Japan, and India are the key markets for HVAC services in APAC.
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HVAC Services Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Decelerate at a CAGR of over 6% |
Market growth 2021-2025 |
$ 21.52 million |
Market structure |
Fragmented |
YoY growth (%) |
8.96 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 46% |
Key consumer countries |
China, US, Japan, Germany, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABM Industries Inc., Air Comfort, Alexander Mechanical, Blue Star Ltd., Carrier Global Corp., Daikin Industries Ltd., ENGIE SA, National HVAC Service, and Samsung Electronics Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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