Market Share of HVAC Services Industry
The HVAC services market is fragmented, favorably competitive, and has several prominent players. The market performers are focusing on expanding their consumer base across foreign countries. These enterprises leverage strategic collaborative initiatives to boost their market share and profitability. Companies such as Siemens AG, Honeywell International Inc., LG Electronics Inc., Electrolux AB, and Johnson Controls International PLC, performing in the market, are also acquiring start-ups working on HVAC services technologies to strengthen their production capacities.
- October 2023 - Lennox International Inc. announced the acquisition of AES Industries Inc. and AES Mechanical Service Group Inc. to the Building Climate Solutions segment. AES will be a part of the Lennox Commercial business segment and enable the delivery of "front-to-back" life-cycle integrated services to AES and Lennox customers.
- July 2023 - Daikin Comfort Technologies subsidiary AirReps acquired two companies, Integrated Systems and Controls LLC and InControl, enhancing the capabilities of AirReps and allowing the company to provide a more comprehensive array of services for its customers. These acquisitions will help Daikin, in conjunction with AirReps, to meet the commercial market's need for integrated services. These combined capabilities will offer Daikin's VRV and Light Commercial business, including service capability, remote monitoring, and predictive maintenance programs.
HVAC Market Leaders
Siemens AG
Honeywell International Inc.
LG Electronics Inc.
Electrolux AB
Johnson Controls International PLC
*Disclaimer: Major Players sorted in no particular order
