HVAC Services Market – Growth, Trends, and Forecast (2020 – 2025)
The HVAC Services Market was valued at USD 7.17 billion in 2019 and is expected to reach USD 14.77 billion by 2025, at a CAGR of 12.5% over the forecast period 2020 – 2025. The growing construction business in major emerging economies and the growing end-user markets, such as the data center market, etc., are major factors driving the growth of the HVAC services market, over the forecast period. Some of the benefits of adopting HVAC systems include energy-efficient, improved results, and lifespan, among others. According to British Petroleum (BP) PLC, China is the largest consumer of primary energy in the world, using some 3.3 million metric tons of oil equivalent in 2018.