Delray Beach, FL, March 18, 2026 (GLOBE NEWSWIRE) -- The report "HVAC Services Market by Service Type (Installation, Maintenance & Repair, Upgradation/Replacement, Consulting), Implementation Type (New Construction, Retrofit), End User (Data Center, Education, Office, Retail, Manufacturing) - Global Forecast to 2030", is projected to grow from USD 72.5 billion in 2025 to USD 97.9 billion by 2030, at a CAGR of 6.2% from 2025 to 2030.
The global HVAC services market is growing steadily as aging building stock, rising urbanization, and stricter energy efficiency requirements increase the need for maintenance, retrofitting, and long-term operational support. The International Energy Agency reports that buildings account for ~30% of global energy consumption, prompting regulators to prioritize higher system performance and ongoing lifecycle servicing over one-time installations. Demand is particularly strong across commercial facilities, data centers, industrial sites, and healthcare environments where downtime and air quality requirements are critical.
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Major Key Players in the HVAC Services Industry:
- Carrier (US),
- DAIKIN INDUSTRIES, Ltd. (Japan),
- LG Electronics (South Korea),
- Johnson Controls (Ireland),
- Lennox International Inc. (US),
- Midea (China),
- Trane Technologies plc (Ireland),
- Honeywell International Inc. (US),
- Mitsubishi Electric Corporation (Japan),
- SAMSUNG (South Korea),
- Fujitsu General (Japan),
- Bosch Thermotechnik GmbH (Germany), and others.
HVAC Services Market Segmentation:
The retrofit buildings segment is expected to grow at the highest CAGR during the forecast period
The retrofit segment in the HVAC services market is expected to grow rapidly as a large share of global commercial and residential buildings reach the mid-to-late lifecycle stage. According to the International Energy Agency (IEA), over 60 percent of today’s buildings will require modernization by 2040 to meet climate and energy performance benchmarks. This trend is driving an increase in demand for commissioning services, refrigerant replacements, energy optimization audits, and predictive maintenance upgrades. Government retrofit incentives, decarbonization goals, and rising installation of heat pumps and smart HVAC systems are further accelerating retrofit service demand, particularly in aging markets across North America, Europe, and parts of Asia.
The installation services segment is projected to capture the largest share of the HVAC services market in 2025
Installation services are expected to hold the largest market share due to the rising deployment of advanced HVAC systems, including heat pumps, VRF networks, and digitally enabled air handling and filtration units. New building activity in emerging markets and growing replacement cycles in developed regions continue to support demand for installations. Industry groups such as ASHRAE and the Building Services Research and Information Association emphasize the increasing need for certified installation expertise as systems become more complex and integrated with building automation platforms. This shift is also increasing long-term service attachment rates, where installations directly feed into future maintenance and lifecycle contracts.
The commercial application for the HVAC services market is projected to grow at the highest CAGR during the forecast period
Commercial facilities, such as hospitals, data centers, airports, hotels, and office buildings, are expected to lead growth due to their high operational hours, strict ventilation and air quality compliance, and a strong focus on energy reduction. The World Green Building Council highlights that commercial buildings are accelerating investment in HVAC performance upgrades to support decarbonization and ESG reporting targets. Service providers are also seeing higher demand for remote monitoring, indoor air quality assessments, filter lifecycle management, and predictive maintenance programs. As enterprises transition to smart building operations and outcome-based performance contracts, commercial HVAC servicing is evolving from transactional repair work to a continuous operational partnership.
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Key Takeaways
- By region, the Asia Pacific is expected to dominate the market, with a market share reaching ~40% by 2030.
- By implementation type, the new construction buildings segment is expected to grow at the highest CAGR during the forecast period.
- By service type, the upgradation/replacement services segment is expected to grow at the highest CAGR of 8.1% during the forecasted period.
- By end user, the commercial segment is expected to grow the fastest during the forecast period.
- Daikin, Carrier, and Trane Technologies were identified as some of the star players in the HVAC services market, given their strong market share and product footprint.
- 75F and Futraheat, among others, have distinguished themselves among startups by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders.
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