Press release
HVAC Services Market To Witness the Highest Growth Globally in Coming Years 2021-2025: Panasonic Corporation, Honeywell International Inc, LG Electronics, Siemens AG, Electrolux Ab, Ingersoll-Rand PLC
The HVAC Services Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The HVAC Services Market was valued at USD 54.74 billion in 2019 and is expected to reach USD 78.10 billion by 2025, at a CAGR of 6.1% over the forecast period 2020 - 2025.
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Competitive Landscape:
Top Companies: 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
Industry News and Updates:
In March 2018, Honeywell launched Amazon Alexa voice-ready thermostat for hotels. Honeywells INNCOM e7 Thermostat (e7) is the first enterprise grade environmental control and energy management solution that incorporates Amazon Alexa voice control for an effortless guest experience that includes room temperature, lighting, drapery, and amenities services.
Key Market Trends:
Growing government support, in the form of higher budget allocations, designed to increase home ownership and sustainable community development, and the increasing affordability of housing, may contribute to the ever growing residential construction sector.In 2017, the US government allocated a budget of USD 46.7 billion (an increase of 1.9% over the previous year), to support residential construction. The increasing population in the country may also contribute to the rising housing demand. The boom in the construction sector is likely to contribute to the expanding of the market for HVAC and HVAC services.
The US Department of Energy (DOE) has released new efficiency standards, for commercial HVAC units, in which carbon emissions must be reduced, by up to 60 million metric tons, by 2030. According to these standards, specialized units should be manufactured, being able to provide energy-efficiency, and sustainable heating and cooling solutions.
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What are the market influences that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global HVAC Services Market report includes the accurately studied and assessed data of the key industry players 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 investment return analysis have been used to analyze the growth of the key players operating in the market.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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