Press release
Global HVAC Services Market 2019-Will reach US$ 69700 Million By 2025 with Top Industry Players Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, Johnson Controls International
HVAC Services
In 2018, Global HVAC Services market size was 44100 million US$ and it is expected to reach 69700 million US$ by the end of 2025, with a CAGR of 5.9% during 2019-2025.
Heating, ventilation, and air conditioning (HVAC) is the technology of indoor and vehicular environmental comfort. Its goal is to provide thermal comfort and acceptable indoor air quality. HVAC system design is a sub discipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics and heat transfer.
The growing demand for HVAC replacements in developed countries will drive the growth prospects for the global HVAC services market until the end of 2021. The market is witnessing a huge shift towards the reduction of operating costs, increasing energy efficiency, and utilizing the favorable government incentives to replace existing heating, ventilation, and air conditioning (HVAC) equipment in various countries such as the US, the UK, Germany, and Japan. Also, the regulations about the use of refrigerants and energy efficiency will increase the number of investments in the replacement of old HVAC systems. Furthermore, reducing the Freon, other CFC refrigerants production, energy consumption during peak summers, and utility costs by at least 15% will influence the need for replacing the existing HVAC equipment, which, in turn, will accelerate the revenue generation in global HVAC services market.
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The key players covered in this study
• Carrier
• DAIKIN INDUSTRIES
• Ingersoll Rand
• Johnson Controls International
APAC accounted for the majority market share during 2017 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the growing demand for HVAC installation services in APAC includes rising investments in the real estate sector, the constant demand for infrastructure projects in terms of quality and quantity, the trend for urbanization, and the improved connectivity between different regions.
Industry Key Insight:
• Industry Value Chain
• Region
• Historical and Future Market
• Supply and Demand
• Price and Cost
• Drivers and Challenges
• Key Vendors
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Market segment by Type, the product can be split into
• Heating
• Ventilation
• Cooling
Market segment by Application, split into
• Airflow and Quality
• Temperature and Humidity
• Electrical
• Others
Regional market size, production data and export & import:
• Asia-Pacific
• North America
• Europe
• South America
• Middle East & Africa
Industry Overview with Top Player’s Analysis @ https://www.orbisresearch.com/reports/index/global-hvac-services-market-size-status-and-forecast-2019-2025
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