PUNE, India —  The HVAC services market is forecast to grow at a compound annual growth rate (CAGR) of 6.62 percent, according to the new report by ReportsnReports.com, Global HVAC Services Market 2017-2021.

The global HVAC services market analyst says the latest trend gaining momentum in the market is advanced monitoring systems and intelligent technologies. Advances in monitoring systems and intelligent technology are a driving force for the global HVAC services. Monitoring systems help in tracking the energy consumption of a building, while intelligent technology controls the energy output of an HVAC system.

Global HVAC Services Market 2017-2021 has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global HVAC services market for 2017-2021. To calculate the market size, the report considers the new installations and aftermarket services.

According to the report, the following companies are the key players in the global HVAC services market: Carrier Corp., Daikin Industries, Ingersoll Rand, and Johnson Controls Intl. Other prominent vendors in the market are: Nortek, LG Electronics, Electrolux, Emerson, Bosch Thermotechnik, Fujitsu, Haier, Lennox Intl., Samsung, Siemens, and Vaillant Group.

According to the HVAC services market report, one of the major drivers for this market is increased construction activity. Development in the construction industry plays a significant role in boosting the global HVAC market. New construction in the residential, commercial, and industrial sectors has increased the demand for HVAC systems, which improves building efficiencies, thus generating higher revenue for the market.

As demand for HVAC equipment increases, so the does the demand for services to maintain them. Innovations in the building design and increased focus on energy efficiency for buildings have created an opportunity for HVAC service providers to increase their market foothold.

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Publication date: 5/15/2017