The global HVAC services market is projected to grow from USD 72.5 billion in 2025 to USD 97.9 billion by 2030, at a CAGR of 6.2%, according to a report from MarketsandMarkets. The report links the growth to aging building stock, urbanization, and stricter energy efficiency requirements that are increasing demand for maintenance, retrofitting, and long-term operational support.
MarketsandMarkets said buildings account for about 30% of global energy consumption, citing the International Energy Agency, and said this is prompting regulators to focus on higher system performance and lifecycle servicing. The report said demand is particularly strong in commercial facilities, data centers, industrial sites, and healthcare environments where downtime and air quality requirements are critical.
By implementation type, the retrofit buildings segment is expected to post the highest CAGR during the forecast period, while the new construction buildings segment is also projected to grow at the highest CAGR, according to the report’s key takeaways. By service type, installation services are expected to hold the largest market share in 2025, while upgradation and replacement services are forecast to record the highest CAGR at 8.1%.
By end user, the commercial segment is expected to grow the fastest during the forecast period. MarketsandMarkets said hospitals, data centers, airports, hotels, and office buildings are driving demand because of long operating hours, ventilation and air quality compliance requirements, and energy reduction targets.
Regionally, Asia Pacific is expected to lead the market, with its share reaching about 40% by 2030. The report identified Daikin, Carrier, and Trane Technologies among the companies with strong market share and product footprint, and said startups including 75F and Futraheat have secured positions in specialized niche areas.