The report includes an in-depth assessment of the HVAC services market This includes technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, case studies of operators, opportunities, future roadmap, value chain, profiles and strategies of ecosystem actors. The report also includes forecasts for HVAC services from 2021 to 2025. The report covers the pre-COVID-19 historical data, the impact of COVID-19 and post-COVID-19 (Coronavirus) on various regions and key countries as well as the Future Attention is drawn to the development of the branch.
The HVAC services market was valued at USD 54.74 Billions in 2019 and is expected to reach USD 78.10 Billions by 2025 with an annual growth rate of 6.1% in the forecast period 2020 – 2025.
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The report presents the competitive landscape of the market and a corresponding in-depth analysis of the major vendors / key players in the market. Top Companies in the Global HVAC Services Market: 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 and others.
Key developments:
In March 2018, Honeywell launched the Amazon Alexa tunable thermostat for hotels. Honeywell’s INNCOM e7 Thermostat (e7) is the first corporate environmental control and energy management solution to include Amazon Alexa voice control for a hassle-free customer experience that includes room temperature, lighting, curtain and equipment services.
Market size:
The HVAC (heating, ventilation, and air conditioning) services market encompasses the various services that OEMs and other regional players offer to end-users. Services primarily include installation and systems integration, maintenance and repair, etc. End-users include but are not limited to contractors and owners (non-residential), homeowners, retail stores, food companies, pharmaceuticals and healthcare companies. The HVAC services market is directly related to the HVAC equipment market. Changes in the demand for devices have a positive effect on the service market, as higher demand for new devices leads to higher installation or retrofit performance.
Regional Analysis for HVAC Services Market:
North America (USA, Canada and Mexico)
Europe (Germany, France, Great Britain, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)
Key trends:
The residential segment is expected to show significant growth
Demand for residential HVAC services is coming mainly from the Asia-Pacific region due to the growing population across the region, resulting in new installations. Demand in developed regions such as North America and Europe mainly results from maintenance and replacement services.
As a result of the global financial crisis and the collapse of the real estate market, excess housing in many mature economies resulted in falling prices for existing homes and suppressing spending on new housing construction.
Direct real estate investments and increasing wealth and prosperity in regions such as APAC, Latin America and the Middle East are driven by economic growth. Increasing migration to existing and emerging cities in these regions is accelerating the demand for new homes.
The robust construction of residential buildings by the private sector, coupled with government initiatives to bridge the housing shortage in emerging markets, is also a major factor in the growth of the market studied. In the Philippines, for example, the government estimated that the country’s residential sector could grow by an annual average of 10.3% in real terms from 2018 to 2026.
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Influence of the HVAC Services Market Report:
– Comprehensive assessment of all the opportunities and risks in the HVAC Services market.
-The in-depth study of the business strategies for the growth of the market leading players in HVAC Services.
– Final Study of the HVAC Services Market growth graph for the coming years.
– In-depth understanding of the market-specific drivers, constraints, and important micro-markets of HVAC Services.
– Favorable impression within the major technological and current market trends in the HVAC services market.
What market factors are explained in the report?
– Important strategic developments: The study also covers the key strategic developments of the market, including R&D, new product launches, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional level .
-Key Market Features: The report has assessed key market characteristics including sales, price, capacity, capacity utilization, gross, production, production rate, consumption, import / export, supply / demand, cost, market share, CAGR, and gross margin. In addition, the study provides a comprehensive study of the key market dynamics and their latest trends, as well as relevant market segments and subsegments.
-Analytical tools: The Global HVAC Services Market report has the carefully studied and assessed data of the major players in the industry and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s Five Forces Analysis, SWOT Analysis, Feasibility Study, and Return on Investment Analysis have been used to analyze the growth of major market players.
Customization of the report: This report can be customized according to your needs for additional data up to 3 companies or countries or 40 analyst hours.
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