The heating, ventilation, and air conditioning (HVAC) services market includes the different services provided to the end users by the OEMs and other regional players. The services primarily include installation, maintenance, and repair. The HVAC services market has a direct correlation with the HVAC equipment market. Any fluctuations in the demand for the equipment are expected to impact the services market’s growth. For instance, higher demand for new equipment leads to higher installation or retrofitting services. HVAC companies offer a variety of services for, both, non-commercial and commercial property owners. These services are not focusing on improving the performance of the equipment, but also on potentially reducing energy costs. The significant increase in the number of construction activities, especially in major emerging economies, and the growing end-user markets, like the data center market, are driving the growth of the market studied. Some of the benefits of adopting HVAC systems include energy efficiency and improved results and lifespan. According to British Petroleum (BP) PLC, China is the largest consumer of primary energy in the world, using about 3.3 million metric ton of oil equivalent in 2018.

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