Press release
HVAC Maintenance and Services Market is Set to Reach $110 Billion by 2029 - Exclusive Research Report by Arizton
HVAC Maintenance and Services Market Research Report by Arizton
To Know More, Download the Free Sample Report: https://www.arizton.com/request-sample/4064
Heating, Ventilation, and Air Conditioning (HVAC) maintenance and service sales are propelled by the escalating impacts of global warming, particularly in regions like Europe, APAC, and MEA, where rising temperatures make air conditioning indispensable. The HVAC industry faces constant challenges due to rapidly evolving technologies and stringent regulations on energy consumption and climate change. Intense market competition limits research and development (R&D) investments, which significant players predominantly drive. The focus of R&D efforts is primarily on cost reduction in production processes and enhancing existing product technologies for added value, rather than the creation of entirely new products. Short time-to-market and limited acceptance of novel technologies further compound challenges for HVAC maintenance and service vendors in this competitive landscape.
The favorable government policies across the countries that support the usage of RES and prevent the emission of GHGs into the atmosphere are driving the market for HVAC. Policymakers are also trying to frame policies that can support the decarbonization of transportation and the management of power sectors. For extensive and mega projects, the implementation of appliances using renewable sources can become mandatory in the future to be certified as a sustainable and green building unit. This can substantially drive the adoption of HVAC systems in residential and large commercial spaces.
In the US, laws related to heat pumps are crucial in California and other Northeastern states. While the market for heat pumps is estimated to be low and underpenetrated in Europe, the government provides financial incentives for switching from conventional electric or gas heating to heat pumps that can drive the market. Similarly, in Japan, the government is also making efforts to promote the level of consumer education and product quality. The UK government has introduced various schemes and policies that are aimed at maximizing the uptake of ground and air source heat pumps. The Domestic RHI is committed to inducing the adoption of heat pumps in the country to achieve local climatic change targets. Swimming pools are not included under domestic RHI, a part of Non-Domestic RHI, provided it is enclosed and used for commercial purposes. With high restrictions and limitations, the scheme is expected to drive the construction of non-residential buildings and HVAC systems for heating.
HVAC Industry Surges as Europe Takes Bold Steps with REPowerEU Plan for Energy Transformation
In May 2022, the European Commission presented the REPowerEU Plan in response to the global energy market disruption initiated by the Russia-Ukraine conflict. This plan will transform energy systems in Europe, reduce the EU's dependence on Russian fossil fuels, which are used as a political weapon, and boost renewables, green hydrogen, and electrification.
The demand for meeting zero-energy emissions by 2050 has helped the HVAC industry witness a rapid phase lift where COP and Seasonal Energy Efficiency Ratio (SEER) ratings are being increased to meet modern requirements. HVAC associations of various regions work in full swing to develop policies and frameworks that can eventually lead to the penetration of HVAC in the next decade. Relying on electricity can be more favorable than other sources such as coal and gas, and cleaner power generation through solar and hydrothermal electricity coupled with HVAC systems is the next big opportunity in the industry. Therefore, the demand for HVAC maintenance is booming in the global market.
Merger & Acquisitions and Product Development
In September 2022, Johnson Controls launched a new HVAC system for homeowners that can reduce their cooling and heating costs by 50% when compared with low-efficiency traditional systems.
Johnson Controls made 18 investments and 21 acquisitions, and the company spent over $19.78 billion. It invested in multiple sectors, such as smart homes, security & surveillance technology, cybersecurity, and more.
In August 2022, Johnson Controls acquired Vindex Systems, a systems integrator specializing in intelligent business protection solutions based around Closed-Circuit Television (CCTV), access control, Automatic Number Plate Recognition (ANPR), and fire detection in the UK. With these acquisitions, the company can expand its subsidiary brand portfolio in security solutions and strengthen its holistic security and safety services.
In July 2021, Systemair acquired the remaining 50.1% of BURDA WTG shares. BURDA WTG is the market leader in infrared heaters for outdoor applications. It is a German-based company that develops, produces, and supplies heating panels, infrared radiant heaters, and associated control equipment. With this acquisition, Systemair expanded its product portfolio in infrared heaters for outdoor applications across the globe.
Key Vendor's Growth Strategy in the Global HVAC Maintenance and Services Market
The industry is characterized by the existence of many market participants in each of the countries and each of the product categories. The HVAC industry is a beneficiary of large incentives given by governments to end-users, with government objectives meeting carbon emission targets and other climate change control measures. Government schemes stimulated the demand for energy-efficient equipment. With technological upheaval, the industry has seen an influx of affordable systems. Vendors that have advanced technology and meet standards set from an ecological perspective have a competitive edge over other vendors. Hence, although sustainability is a major factor in the HVAC industry, incorporating technology and statutory standards is a step ahead in the competitive market.
Key Company Profiles
Systemair
Johnson Controls
Robert Bosch
Zehnder
Ostberg
Aldes
Daikin
Samsung
Mitsubishi Electric
Rheem Manufacturing Company
AquaCal
Pentair
LG
Panasonic
Carrier
MIDEA
Regal
Raytheon Technologies
Flakt Group
Beijer Ref
Flexit
Grundfos
Swegon
VTS
Nuaire
Nortek
Alfa Laval
Hitachi
LU-VE
Vent-Axia
Rosenberg
S&P
Wolf
CIAT
AL-KO GROUP
Dynair
Danfoss
Lennox
Backer Springfield
Dunhambush
TCL
Trox
Vaillant Group
Ingersoll Rand
Camfil
Buy this Research @ https://www.arizton.com/market-reports/hvac-maintenance-and-services-market
Post-Purchase Benefit
1hr of free analyst discussion
10% of customization
Market Segmentation
Equipment Type
Heating
Air Conditioning
Ventilation
Service Model
Maintenance & Repair
Installation
Replacement
Consulting
End Users
Residential
Commercial
Others
Geography
APAC
China
Japan
India
Australia
South Korea
Europe
Germany
France
Russia
The UK
Norway
Demark
Italy
Poland
Spain
North America
The US
Canada
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
The UAE
South Africa
Key Questions Answered in the Report:
How big is the global HVAC maintenance and services market?
What is the growth rate of the global HVAC maintenance and services market?
Which region dominates the global HVAC maintenance and services market share?
What are the significant trends in the HVAC maintenance and services industry?
Who are the key players in the global HVAC maintenance and services market?
Check Out the Detailed TOC @ https://www.arizton.com/market-reports/hvac-maintenance-and-services-market?details=tableOfContents
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Contact Us
Call: +1-312-235-2040
+1 302 469 0707
Mail: enquiry@arizton.com
Contact Us: https://www.arizton.com/contact-us
Blog: https://www.arizton.com/blog
Website: https://www.arizton.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release HVAC Maintenance and Services Market is Set to Reach $110 Billion by 2029 - Exclusive Research Report by Arizton here
News-ID: 3358478 • Views: …
More Releases for HVAC
Fusion HVAC & Appliance Repair Expands Emergency HVAC Services for NYC Homeowner …
24/7 Rapid Response Team Ensures Fast, Reliable Heating and Cooling Repairs Across New York City
Manhattan, NY - Fusion HVAC & Appliance Repair [https://fusionhvacappliance.repair/], a leading provider of residential and commercial HVAC services, has announced the expansion of its emergency repair services to better serve homeowners and businesses in New York City. With round-the-clock availability, expert technicians, and a commitment to customer satisfaction, the company ensures that HVAC and essential…
HVAC Repair Near Me: A Comprehensive Guide to Quality HVAC Services
Having a reliable HVAC system is essential for maintaining comfort in your home, especially during extreme weather. From routine maintenance to emergency repairs, knowing where to find HVAC repair near me ensures your system operates efficiently year-round. In this guide, we'll explore various HVAC services near me [http://fosterpandh.com/], their importance, and how Foster Plumbing & Heating can address your needs.
Why HVAC Systems Are CrucialThe Role of HVAC in Your Home
HVAC…
The HVAC Pump Market: Unlocking Efficiency of The Heart of HVAC Systems
When it comes to maintaining comfortable temperatures in our homes, offices, and industrial spaces, we often take it for granted that our heating, ventilation, and air conditioning (HVAC) systems work seamlessly in the background. But behind the scenes, there's a critical component that plays a pivotal role in ensuring our spaces are cool in the summer, warm in the winter, and well-ventilated year-round - the HVAC pump.
The Workhorse of HVAC…
"Driving the HVAC Industry: Exploring the Growing Market of HVAC Actuators"
HVAC actuators are crucial components of heating, ventilation, and air conditioning (HVAC) systems. They control the movement and position of various HVAC components, such as dampers, valves, and diffusers, to maintain the desired temperature and air quality in a building.
The global hvac actuators market size was valued at $3.9 billion in 2021, and is projected to reach $6.2 billion by 2031, growing at a CAGR of 4.6% from…
EDS's All-New HVAC Software Puts a Twist in the HVAC Industry
It's an expensive deal to keep a home warm, cool, and power rightly all the time. And it is a tedious job for the HVAC equipment providers to provide the right-sized HVAC solution without accurate heat or cooling load calculation. To address the challenges of the HVAC service providers, today, Energy Design Systems (EDS), a pioneered HVAC engineering solutions provider, has introduced EDS - a powerful HVAC software.
Today, Energy…
Automotive HVAC Technology Market 2018 by Type(Manual HVAC Systems, Automatic HV …
Automotive HVAC Technology MARKET
The market research report on the Global Automotive HVAC Technology Market presents an in-depth information about the various aspects of the market, on both global and regional scales, which provides a better understanding of the present market landscape. The growth of the Automotive HVAC Technology market has been driven by the soaring demand for Automotive HVAC Technology in the well-established and emerging regions, current technological advancements, and the…
