The Prime objective of “HVAC Services Market” report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. Important factors supporting growth across various is also provided. Using the industrial figures, the market finds growth figures between the forecast period from 2019 to 2024. In order to present an executive-level model of the market and its future perspectives, the report presents a clear segmentation based on different parameters. The factors that affect these segments are also discussed in detail in the report.
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Top Key Players Are:
HVAC Services Market Report Covers the Top Regions:
United States, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, Australia, South Korea, GCC, South Africa, Brazil, Argentina.
Scope of HVAC Services Market:
The HVAC (heating, ventilation and air conditioning) services market includes the different services provided to the end users by the OEMs and other regional players. The services primarily include installation and system integration, maintenance, and repair, etc. The end users include building contractors and owners (non-residential), home owners, retail stores, food services companies, pharmaceutical, and healthcare companies, among others. The HVAC service market has a direct correlation with the HVAC equipment market. Any changes in demand for the equipment will impact the service market positively as higher demand for new equipment leads to higher installation or retrofitting services.
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Key Market Trends:
Residential Segment is expected to register a Significant Growth
The demand for HVAC services in the residential sector, is primarily from Asia-Pacific, owing to the growing population, across the region, thereby leading to new installations. The demand in developed regions, like North America and Europe, is mainly from the maintenance and replacement services.
In the wake of the financial crisis and housing market collapse, an overhang of housing in many mature economies, led to a breakdown in prices of existing homes, and stifled new residential construction spending.
Direct real estate investment, and increasing wealth and prosperity in regions such as APAC, Latin America, and the Middle East, are driven by economic growth. The increasing migration to existent and newly emerging cities, in these regions, is accelerating the demand for new homes.
The robust construction of residential buildings, by the private sector, coupled with the government initiatives, to bridge emerging countries housing shortages, are also acting as significant factors, for the growth of the studied market.For instance, in the Philippines, the government estimated that the countrys residential sector growth could come in at an annual average of 10.3%, in real terms, from 2018-2026.
According to data from the Housing and Urban Development Coordinating Council, the countrys social housing backlog is now at 5.6 million units. There were over 30,000 residential construction permits, issued by the end of the second quarter of 2017, 24% higher than in 2016.Recently, in 2018, rising rents across Toronto led to record-breaking sales, for multi-residential apartment buildings. The sales reached USD 1.2 billion, in the third quarter of 2018.
The United States is Expected to Hold Major Share
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.
Increased construction activities, rapid urbanization, infrastructural reforms, and HVAC unit replacements, are some of the major factors supporting the growth of HVAC services market in the country.The DOE has invested almost USD 8 million, to replace old refrigerants, with energy efficient alternatives, which can minimize environmental threats posed by rooftop HVAC units.
- Market Dynamics – Drivers, Restraints, and Opportunities
- Market Segmentation – Types, Applications, Regions, and Technology
- Market Trends
- Competitive Landscape
- SWOT Analysis and Porter’s Five Forces Analysis
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Detailed TOC of HVAC Services Market Research Report 2019 – 2024:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Construction Business In Major Emerging Economies
4.3.2 Growing Data Center Market
4.4 Market Restraints
4.4.1 Labor Shortage/ High Costs Of Skilled Labor
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Services
5.1.1 Maintenance and Repair
5.2 By Implementation Type
5.2.1 New Construction
5.2.2 Retrofit Buildings
5.3 By End User
5.4.1 North America
18.104.22.168 Rest of Europe
5.4.3 Asia Pacific
22.214.171.124 Rest of Asia-Pacific
5.4.4 Latin America
126.96.36.199 Rest of Latin America
5.4.5 Middle East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Panasonic Corporation
6.1.2 Honeywell International Inc
6.1.3 LG Electronics
6.1.4 Siemens AG
6.1.5 Electrolux Ab
6.1.6 Ingersoll-Rand PLC
6.1.7 Carrier Corporation
6.1.8 Johnson Controls Inc
6.1.9 Daikin Industries Ltd
6.1.10 Nortek HVAC
6.1.11 Lennox International, Inc.
6.1.12 Fuijitsu General Ltd
6.1.13 Robert Bosch GmbH
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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