The research report “HVAC Services Market: By Implementation Type (New Construction, Retrofit Buildings), By End User (Residential, Commercial, and Industrial) and Geography- Global/Region/Country Forecast to 2028.” HVAC services market size is valued at USD 55,587.9 million in the year 2021 and is anticipated to grow at a considerable CAGR rate of 6.2% during the forthcoming years 2022-2028.
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An increase in the end-user markets is fuelling the HVAC Services Market:
The HVAC services market report presents insights about company share analysis, key market developments, their key strategies and competitor’s overview. It also focuses on covering granular level information related to the regional market share, historic market and market size. It tracks key advancements and current innovations. Plethora of information is covered in this report about regulatory framework and market entry strategies. Market drivers, constraints and latest trends are also outlined here.
The global market aims at providing a comprehensive overview and which can be categorized by end-user and type. The HVAC services market has been categorized into different segments such as Retrofit Buildings and New Construction on the basis of implementation type. Amid these segments, the new construction segment is likely to be the biggest and rapidly growing segment. On the basis of end-user, the HVAC services market is classified into different sectors such as Industrial, Residential and Commercial. The residential sector is anticipated to witness rapidly growing market amid other sectors during the forthcoming years 2022-2028 amid other sectors. North America is anticipated to record the highest market share among other regions during the forthcoming years because of the technological developments in the HVAC systems around the region and the growing adoption of HVAC systems amid the commercial and residential sectors. Johnson Controls introduced the factory-built, completely integrated and installed wrap-around heat exchangers (WAHX) to its YORK Solution Indoor and Outdoor air-handling unit. Such newly developed product is going to assist the company in terms of fulfilling an increasing requirement for energy-efficient dehumidification methods in a compact footprint.
A few leading factors bolstering the HVAC services market growth over the evaluation period are increase in the end-user markets like the data center market and growing construction business in the leading countries.
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North America accounted for major share in the HVAC Services Market:
The HVAC services market report aims at providing complete outlook around the region making special focus on the leading regions such as Latin America, Europe, North America, Asia Pacific, Middle East and Africa. Among all these regions, North America market is anticipated to experience the highest market share during the forthcoming years because of the sustainable community development and growing home ownership.
Competitive Analysis – HVAC Services Market
Major players working in the HVAC services market are Siemens AG, Honeywell International, LG Electronics, Electrolux and Johnson Controls.
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