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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 subdiscipline of mechanical engineering, based on the principles of thermodynamics, fluid mechanics and heat transfer.
Scope of the Report:
This report studies the HVAC Services market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the HVAC Services market by product type and applications/end industries.
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.
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.
The global HVAC Services market is valued at 44100 million USD in 2017 and is expected to reach 61500 million USD by the end of 2023, growing at a CAGR of 5.7% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of HVAC Services.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
- Carrier
- DAIKIN INDUSTRIES
- Ingersoll Rand
- Johnson Controls International
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Heating
- Ventilation
- Cooling
Market Segment by Applications, can be divided into
- Airflow and Quality
- Temperature and Humidity
- Electrical
- Others