Global HVAC Maintenance Services Market Size Likely to Expand at a CAGR of 6.57% By 2033

The global HVAC Maintenance Services Market was valued at USD 78,998 million in 2024 and is expected to reach USD 1,55,630.9 million by 2033, at a CAGR of 6.57% during the forecast period 2024 – 2033.

HVAC Maintenance Services include various types of services such as repair, upgrade, maintenance, and consulting. The growing emphasis on energy-saving solutions and stringent government regulations are mainly driving the market growth of this segment during the forecast period.

Various factors, such as growing adaption of HVAC systems in residential construction, rapidly expanding end user industries, growing disposable income, supportive government policies and incentives for HVAC systems, growing demand for improved indoor and outdoor air, increasing investment in construction activities, and advancements in HVAC systems, are mainly driving the market growth during the forecast period.

Furthermore, factors such as the swift evolution of smart HVAC systems, the growing incorporation of emerging technologies such as AI and IOT in HVAC systems, and increasing temperatures across the globe due to global warming and climate change are expected to create lucrative opportunities for the market during the forecast period.

However, the high cost of maintenance due to fluctuation in raw material prices, lack of awareness about HVAC systems in many developing countries, increasing carbon and greenhouse gas emissions, and the energy crisis are some of the factors restraining the market’s growth.

Growing technological advances in HVAC systems, increasing collaboration between third-party services providers and HVAC system manufacturers, and increasing incorporation of the Internet of Things in HVAC systems are some of the factors expected to create lucrative opportunities for the market during the forecast period.

The key trends observed in the market include growing demand for next-generation based automated HVAC systems solutions for heating and cooling, which is expected to drive the demand for HVAC maintenance services during the forecast period.

The global HVAC Maintenance Services market is segmented by type, product, service, application, and region. By type, heating type is expected to dominate during the forecast period owing to the growing demand for heating-type HVAC equipment in commercial and residential construction applications.

Various factors, such as the growing emphasis on energy efficiency solutions, rapidly expanding end-user applications, and the lower cost of heating-type HVAC maintenance equipment, are mainly driving the market growth of this segment during the forecast period.

The cooling segment is expected to grow at the fastest CAGR during the forecast period owing to the increasing installation of ACs due to increasing global temperatures. Various factors, such as the increasing prevalence of pandemics and chronic diseases, such as the COVID-19 pandemic, have increased the importance of clean air, which in turn boosted the demand for ACs during the forecast period.

By application, the Commercial segment dominated the global HVAC maintenance services during the forecast period owing to the rapidly expanding commercial construction industry across the globe. Additionally, growing establishments of various commercial buildings such as shopping malls, airports, hotels, big restaurants, theatres, and other service sector companies are expected to increase the installation of HVAC equipment, thereby driving the market growth of this segment.

The residential application segment is expected to grow at the fastest CAGR during the forecast period owing to the growing installation of ACs in residential constructions. Furthermore, growing disposable income, increasing urbanisation, and growing awareness about energy efficiency are some of the factors propelling the market growth of this segment during the forecast period.

Report Scope

CMI has comprehensively analyzed the HVAC Maintenance Services market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth market scenario. Segment-wise market size and market share during the forecast period have been duly addressed to portray the probable picture of this Global HVAC Maintenance Services industry.

The competitive landscape includes key innovators, after-market service providers, market giants, and niche players, who are studied and analyzed extensively with respect to their strengths, weaknesses, and value-adding prospects. In addition, this report covers key players’ profiles, market shares, mergers and acquisitions, consequent market fragmentation, and new trends and dynamics in partnerships.

List of the prominent players in the HVAC Maintenance Services Market:

• Carrier Corporation
• Toshiba
• Mitsubishi Group
• Johnson Controls
• Daikin
• Electromechanical Maintenance Services
• Bradbury Brothers Cooling Heating Plumbing & Electrical
• AAA Filter Service
• MG Cooling Solutions
• Carolina Filters Inc.
• LG Service & Maintenance
• Systemair Manufacturing
• Johnson Controls
• Zehnder
• Ostberg
• Others

The HVAC Maintenance Services Market is segmented as follows:

By Type

• Heating
• Ventilation
• Cooling

By Service

• Repair
• Upgrade/Replacement
• Maintenance
• Consulting

By Product

• Air Handling Units
• AC System
• Air purifier
• Heat Pump
• Others

By Application

• Residential
• Commercial
• Industrial

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America