HVAC Services Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43029

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The HVAC services market size is expected to grow by USD 21.52 million and record a CAGR of 6.40% during 2021-2025.

This post-pandemic HVAC services market report has assessed the shift in consumer behavior and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this HVAC services market analysis report, key drivers such as the development of EV charging infrastructure have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as high cost of batteries used in EVs, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the HVAC Services Market Size be in 2021?


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Who are the Key Vendors in the HVAC Services Market?

The HVAC services market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:


  • ABM Industries Inc.
  • Air Comfort
  • Alexander Mechanical
  • Blue Star Ltd.
  • Carrier Global Corp.
  • Daikin Industries Ltd.
  • National HVAC Service
  • Samsung Electronics Co. Ltd.


Our analysts have extensively outlined successful business strategies deployed by the key vendors in this market research report. The HVAC services market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

This HVAC services market report further entails segmentation by end-user (non-residential and residential) and geography (APAC, Europe, North America, MEA, and South America). The available actionable insights on the segmentation in this report will enable a better understanding of the target audience and changing demand patterns.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. The HVAC services market further offers well-structured marketing strategies to overcome the negative post-COVID-19 impact, if any, on each product and service segment.

Which are the Key Regional Markets for HVAC Services Market?


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The report offers an up-to-date analysis of the geographical composition of the market. APAC will record a fast growth rate during 2021-2025, owing to which the region should offer several growth opportunities to market vendors.  From the statistical study of the geographic landscape, you can interpret and understand the competitive intelligence and regional opportunities in store for vendors for 2021-2025.

46% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for HVAC services in the region. This report provides estimations of the contribution of all regions to the growth of the HVAC services market size.


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What are the Key Factors Covered in this HVAC Services Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive HVAC services market growth during the next five years
  • Precise estimation of the HVAC services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the HVAC services industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of HVAC services market vendors

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HVAC Services Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Decelerate at a CAGR of 6.40%

Market growth 2021-2025

$ 21.52 million

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 46%

Key consumer countries

China, US, Japan, Germany, UK, and India

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABM Industries Inc., Air Comfort, Alexander Mechanical, Blue Star Ltd., Carrier Global Corp., Daikin Industries Ltd., ENGIE SA, National HVAC Service, and Samsung Electronics Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Non-residential - Market size and forecast 2020-2025
    • Residential - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • ABM Industries Inc.
      • Air Comfort
      • Alexander Mechanical
      • Blue Star Ltd.
      • Carrier Global Corp.
      • Daikin Industries Ltd.
      • ENGIE SA
      • National HVAC Service
      • Samsung Electronics Co. Ltd.


      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts

      TechnavioREPORT WRITING


      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis


      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The hvac services market growth will increase by $20.75 billion during 2019-2024.
      The hvac services market is expected to grow at a CAGR of 6.68% during 2019-2024.
      Technavio has segmented the hvac services market by end user (Non-residential and Residential) and geographic (APAC, Europe, North America, MEA, and South America).
      AB Electrolux, Daikin Industries Ltd., Emerson Electric Co., Gardner Denver Holdings Inc., Johnson Controls International Plc, LG Electronics Inc., Nortek Inc., Robert Bosch GmbH, Siemens AG, United Technologies Corp. are a few of the key vendors in the hvac services market.
      APAC will register the highest growth rate of 46.41% among the other regions. Therefore, the hvac services market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Japan
      • Germany
      • UK
      • India
      The key factors driving the hvac services market growth are:
      • Increased construction activity
      The hvac services market vendors should focus on grabbing business opportunities from the non-residential segment as it accounted for the largest market share in the base year.
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