Heating, Ventilation, and Air Conditioning (HVAC) Services Market Forecasts to 2028 | Drivers and Opportunities | Honeywell International Inc, Robert Bosch GmbH, Emerson Electric Co

According to Stratistics MRC, the Global Heating, Ventilation, and Air Conditioning (HVAC) Services Market is accounted for $57.80 billion in 2020 and is expected to reach $107.78 billion by 2028 growing at a CAGR of 8.1% during the forecast period. Factors such as rising global temperatures, growing construction sector, and rising disposable income in developing countries are driving the growth of the market. However, shortage of skilled labor is hampering the growth of the market.

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Based on the end user, the residential segment is anticipated to expand at a rapid pace during the forecast period due to the growing government support for sustainable community development and the increasing affordability of housing. By geography, North America is going to have high growth during the forecast period which can be attributed to the infrastructural reforms and the growing use of air conditioners in homes and offices throughout the region.

Some of the key players profiled in the Heating, Ventilation, and Air Conditioning (HVAC) Services Market include Honeywell International Inc, Robert Bosch GmbH, Emerson Electric Co, Siemens AG, Panasonic Corporation, Daikin Industries Ltd, LG Electronics Inc, Electrolux AB, Johnson Controls International PLC, Ingersoll-Rand PLC, United Technologies Corp, Fujitsu General Ltd, Gardner Denver Holdings Inc , Carrier Corporation, Lennox International Inc, and Nortek Global HVAC.

Implementation Types Covered:
• Retrofit Buildings
• New Construction

Types Covered:
• Maintenance and Repair
• Installation   

Categories Covered:
• Heating
• Ventilation
• Cooling 

Applications Covered:
• Temperature and Humidity
• Airflow and Quality
• Electrical

End Users Covered:
• Residential
• Industrial
• Commercial 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

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