HVAC Services Market Size

Global HVAC Services market size was valued at USD 75.4 Billion in 2023 and is poised to grow from USD 80.1 Billion in 2024 to USD 129.7 Billion by 2032, growing at a CAGR of 6.21% in the forecast period (2025-2032).

The primary driver boosting the global HVAC services market growth is the extreme climatic change occurring across the globe resulting in hotter summers and cooler winters. In addition, rapid urbanization in emerging economies especially in Asia-Pacific and Latin America coupled with government incentives to support green building practices and energy efficient solutions creates demands for such HVAC solutions and ultimately for their servicing.

The HVAC services market is growing due to the increase in requirement for HVAC solutions in various residential, commercial and industrial settings due to climatic changes and integration with modern features such as AI in predictive maintenance. People are in need of HVAC services either for their existing systems or for installation of new systems. The demand has also increased as a result of focus on Indoor Air Quality that necessitates services like air filter replacement, duct cleaning, and HVAC sanitization.

Mobile field management tools that include features such as mobile apps, cloud-based dispatching, real-time inventory management, and digital invoicing, etc. are being used by service providers to improve technician productivity, enable quicker response times, and enhance customer experience.

However, the lack of skilled professionals for providing HVAC services across the globe and the fact that this is a highly season-based market which peaks only during the summers and winters is hindering the market’s growth. The market is also facing challenges due to intense competition from local service providers and price sensitivity. Customers, especially in the residential sector, choose their service providers based on price and not expertise.

Can AI be the Reason Behind the Global HVAC Services Market’s Transformation?

AI powered predictive maintenance is bringing about transformation in the HVAC services market. It uses sensors, IoT, and modern analytics to monitor system performance in real time, detect anomalies, and predict potential failures before they occur. Can help in reducing unplanned downtime, lower maintenance costs, and extend equipment life. In 2025, ARS, a US based HVAC service provider partnered with Bluon, a HVAC data and AI technology company, to integrate AI tools such as Bluon's MasterMechanic™ to enable its technicians with instant diagnostics and enriched equipment data. This kind of technology will not only make service accuracy and speed better but also addresses the industry's skilled labor shortage by streamlining workflows and enabling data-driven decision-making in HVAC system management.