HVAC Services Market

The 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% from 2025 to 2030. With 64% of US households using central air-conditioning systems and 11% relying on heat pumps, as per the US Energy Information Administration’s Residential Energy Consumption Survey (RECS), the demand for maintenance and repair services is expected to grow significantly. The Air Conditioning Contractors of America Association (ACCA) projects a 13% rise in HVAC technician and installer jobs between 2018 and 2028, above the average job growth rate, indicating strong and sustained industry demand.

The HVAC services market is highly fragmented and characterized by a diverse mix of local contractors, regional service providers, and large multinational OEM-backed service networks. These companies serve multiple end-users, including residential, commercial, and industrial sectors. Major players in the HVAC services market include Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Johnson Controls (Ireland), Lennox International Inc. (US), and others. Product launches, collaborations, and acquisitions are key strategies adopted by players to increase their market share, enhance their product portfolios, and expand their presence in the HVAC services market.

In June 2025, OPTERRA Energy Services (formerly ENGIE Services US) was acquired by LS Power. With this move, the company aims to expand its HVAC maintenance, energy-efficiency upgrades, and facility operations services as part of a broader push on energy and climate-management solutions. In July 2024, Bosch acquired Johnson Controls-Hitachi’s residential and light-commercial HVAC unit to expand its heating, ventilation, and cooling portfolio. The acquisition includes manufacturing plants and product lines for boilers, heat pumps, and climate control systems.

The key players operating in the HVAC services market include Carrier (US), DAIKIN INDUSTRIES, Ltd. (Japan), LG Electronics (South Korea), Johnson Controls (Ireland), Lennox International Inc. (US), Midea (China), Trane Technologies plc (Ireland), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), SAMSUNG (South Korea), Fujitsu General (Japan), Bosch Thermotechnik GmbH (Germany), and others.

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Carrier (US)

Carrier is a leading global HVAC solutions provider with a strong and expanding services portfolio focused on maintenance, retrofits, aftermarket support, and lifecycle performance optimization. The company provides heating, ventilation, and cooling services for residential, commercial, and industrial environments, with sustainability, energy efficiency, and digital servicing being core differentiators. Carrier has strengthened its aftermarket footprint through predictive maintenance offerings, connected service platforms, and remote diagnostics, leveraging IoT-based monitoring. The company also focuses on decarbonization through electrification and high-efficiency equipment conversion programs. Its service strategy is supported by an extensive channel ecosystem, including authorized partners, technicians, and certified service centers. Growing recurring revenue from service contracts and subscription-based digital offerings remains a strategic priority for Carrier's long-term growth within the HVAC services market.

DAIKIN INDUSTRIES, Ltd. (Japan)

Daikin is one of the largest HVAC solution providers globally, with a strong emphasis on service-driven recurring revenue, aftermarket solutions, and lifecycle system management. Its HVAC services segment offers a wide range of solutions, including preventive maintenance, system upgrades, retrofits, installations, and long-term service agreements for homes, commercial buildings, and industrial facilities. Daikin continues to invest in digital service capabilities, including remote equipment monitoring, smart controls, and AI-driven maintenance prediction, to reduce downtime and enhance operational efficiency. Alongside its leadership in product development for heat pumps, chillers, and VRV systems, the company is expanding its field service workforce and technical training programs to support global demand. Daikin's strategy in the services market prioritizes energy efficiency upgrades and sustainability programs, particularly for aging infrastructure, where demand for modernization and refrigerant transition services is accelerating.

Market Ranking

The HVAC services market is highly fragmented, with five main players collectively accounting for less than 25% of the total market share. Carrier holds a strong position in the HVAC services value chain, driven by its extensive installed base and large network of certified service partners that secure recurring aftermarket demand. The company plays a pivotal role in providing long-term operational support, modernization, and energy performance contracting services to both commercial and residential clients. Daikin maintains a dominant footprint in the HVAC services ecosystem through its wide equipment penetration and strong distribution, installation, and maintenance network across key global regions.

Related Reports:

HVAC Services Market by Service Type (Installation, Maintenance & Repair, Upgradation/Replacement, Consulting), Implementation Type (New Construction, Retrofit), End User (Data Center, Education, Office, Retail, Manufacturing) - Global Forecast to 2030

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