Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||958021|
|Published||Content info||180 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 180 Pages||
Global HVAC Services Market to Reach $76.3 Billion by 2027
Amid the COVID-19 crisis, the global market for HVAC Services estimated at US$51.4 Billion in the year 2020, is projected to reach a revised size of US$76.3 Billion by 2027, growing at aCAGR of 5.8% over the period 2020-2027. Residential, one of the segments analyzed in the report, is projected to record 5.4% CAGR and reach US$24.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-Residential segment is readjusted to a revised 6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.9 Billion, While China is Forecast to Grow at 8.8% CAGR
The HVAC Services market in the U.S. is estimated at US$13.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$16 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
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