Key Players
High Level Trends
- The global HVAC maintenance service market is valued at $70 billion (2022)
- Forecasted to grow at a CAGR of 5.25-6.30 percent between 2022 and 2025
Confidential & Proprietary | 2024 CBRE Inc.
Supply Outlook?
Top OEM Suppliers:
End-user market split - office space accounts for largest market share of HVAC maintenance at 39%
- Johnson Controls
- Trane
- Carrier
- Daikin
- Ingersoll
Top CBRE Suppliers:
- Johnson Controls
- Trane
- Emcor
- Carrier
- Service Logic
- Intelligent HVAC Systems Using IoT and Data Analytics
- Smart HVAC Designs
- Green HVAC Units
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HVAC
Global Market Analysis
Market Intelligence
Market Intelligence
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Global Spend
- The global HVAC maintenance service market is valued at $70 billion (2022)
Forecasted to grow at a CAGR of 5.25-6.30 % between 2022 and 2025
- The USA and western Europe are the most developed markets
High
Maturity
Low
Maturity
Medium
Maturity
CBRE Regional Spend
- HVAC product prices are increasing, as key suppliers have invested highly in R&D to innovate new energy-efficient products
- Replacement with low GWP refrigerants is resulting in price increases
- Increase in cost, due to investments in R&D. However, raw material prices are expected to decrease slightly
Growth Drivers
Regional Trends / Spend
- Integration of smart HVAC products amongst commercial and residential sector
- Government regulations to adopt less carbon-emitting HVAC products, along with subsidies, will drive the market
- Technology advances and new product offerings that guarantee cost savings through efficient energy have also aided in increasing the adoption rate for HVAC services