“HVAC Services Market” report 2019-2024 provides detailed summary of company competition, market demand, regional forecast, marketing price and new investment feasibility analysis is included of HVAC Services market. It also covers approximate CAGR, key-players, scope of the report, regional analysis, major market factors of HVAC Services market, reasons of buying this report and complete TOC of report.
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There are 4 key segments covered in this HVAC Services Systems Market report:
- Competitor segment
- Product type segment
- End-use/application segment
- Geography segment
HVAC Services Market by Key Players:
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Scope of the Report:
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 global 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 country’s 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 country’s 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.
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HVAC Services Market Covers Following Points in TOC:
- Chapter 1: HVAC Services Market Definition
- Chapter 2: Research Methodology of HVAC Services Market
- Chapter 3: HVAC Services Market Executive Summary
- Chapter 4: HVAC Services Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
- Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
- Chapter 6: HVAC Services Market Segmentation by Types, End-User, and Applications Forecast to 2024
- Chapter 7: HVAC Services Market Segmentation by Geographical Regions
- Chapter 8: Competitive Landscape of HVAC Services Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
- Chapter 9: Key Players for HVAC Services Market
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