HVAC Services Market Size to Increase by $ 21.52 Mn Between 2021-2025 | Development of EV Charging Infrastructure to

NEW YORK, Oct. 5, 2021 /PRNewswire/ —

The global HVAC services market is expected to grow by USD 21.52 million during 2021-2025. However, the market’s growth momentum is expected to decelerate at a CAGR of over 6% during the forecast period.

The market is driven by the development of EV charging infrastructure and the growing demand for replacements in developed countries. However, the high cost of batteries used in EVs will challenge growth.

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HVAC Services Market: End-user Landscape

By end-user, the market witnessed significant demand for HVAC services from the non-residential segment in 2020. The market growth in the non-residential end-user segment will be significant during the forecast period.

HVAC Services Market: Geographic Landscape

By geography, APAC is going to have lucrative growth during the forecast period. About 46% of the market’s overall growth is expected to originate from APAC. China, Japan, and India are the key markets for HVAC services in APAC.

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