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Europe HVAC Market By Equipment (Air Conditioning/Ventilation Equipment, Heating Equipment) By Applications (Residential, Commercial, Industrial)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030

Summary
Table Of Content

Key Highlights of the Report

The Europe HVAC market is segmented by equipment, end-user, and Country. Heating equipment is the most popular segment across the Country owing to the colder climate across the various parts of the Country. Residential users are the end-user segment, with Germany leading the market growth.

The Europe HVAC market has been driven by several factors including the replacement of existing equipment with energy-efficient products, as there is a growing environmental concern across the population about the harmful effects of edge old HVAC systems. Additionally, a trend for eco-friendly HVAC systems is expected to further drive market growth. However, the market also faces significant challenges, including fluctuation in raw material prices and economic uncertainty.

Nonetheless, the Europe HVAC market offers significant growth opportunities, increasing construction products across the Country. Residential, commercial, and institutional buildings all require HVAC installations to provide heating, cooling, and ventilation. This creates a substantial market for HVAC manufacturers, as they can supply their products to new construction projects.

Market Overview

The Europe HVAC market has witnessed steady growth in recent years and is expected to grow at a CAGR of 6.50% between 2023 and 2030. The market was valued at USD 26.8 billion in 2022 and is expected to reach USD 41.64 billion in 2030.

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What Are the Main Drivers of The Europe HVAC Market?

The Europe HVAC market is driven by several factors, including the emergence of the replacement of existing equipment with energy-efficient products are expected to drive the market growth.

What Are the Major Challenges Faced by the Europe HVAC Market?

The Europe HVAC market also faces several challenges, the volatility in energy prices including electricity and fuel can impact the growth of the Europe HVAC market.

What Are the Growth Opportunities in The Europe HVAC market?

The emergence of IoT and product innovations are expected to offer significant lucrative growth opportunities for the Europe HVAC market

Executive Summary

Overview of the Europe HVAC Market

In recent years, the HVAC market in Europe has been continuously expanding. The market for HVAC equipment in Europe is primarily driven by an increase in new housing starts, growing construction spending on average, increased government investment on green building initiatives, rapid urbanisation, and rising disposable income in various European nations.

Market Definition

The Europe HVAC (Heating, Ventilation, and Air Conditioning) market refers to the collective industry and market activity related to the production, distribution, and installation of HVAC systems, equipment, components, and associated services within the European Country. It encompasses a wide range of products and solutions used for heating, cooling, ventilation, and air quality control in residential, commercial, and industrial settings. The market includes various players such as manufacturers, suppliers, contractors, distributors, and service providers who contribute to the design, production, distribution, installation, and maintenance of HVAC systems. These systems may consist of heating units (such as boilers, furnaces, and heat pumps), cooling units (such as air conditioners and chillers), ventilation systems (including ductwork, fans, and air handling units), and associated control systems.

Market Insights

The Europe demand for HVAC was valued at USD 26.8 Billion in 2022 and is expected to reach USD 41.64 Billion in 2030, growing at a CAGR of 6.50% between 2023 and 2030.
Heating equipment is the leading segment and held around more than half of the share in terms of value in 2022, while the air conditioning/ventilation equipment segment is likely to exhibit the fastest CAGR during the forecast period.
Residential sector is expected to post the highest revenue share in the year 2022, and the leading segment in the end-user.
Germany is fuelling the growth of the HVAC industry with a nearly two-fifth share in 2022, while UK and France collectively accounted for just nearly under 55% share in 2022. France held over 22% share in 2022.
Europe experiences diverse climatic conditions across different countries, ranging from hot summers to cold winters. This necessitates the need for HVAC systems to maintain comfortable and ambient environments in buildings throughout the year. The demand for heating, cooling, and ventilation solutions is driven by these varying climatic conditions, contributing to the growth of the HVAC market.

Segmentation by Equipment

Heating equipment is the leading segment and held around half a share in value in 2022.
The air conditioning/ventilation equipment will likely exhibit the fastest CAGR during the forecast period.

Segmentation by Application

The residential segment governs the demand for the HVAC industry in the world, holding a massive share, and is also expected to grow at a rapid CAGR.

Segmentation by Country

Germany was fuelling the growth of the HVAC industry with a nearly two-fifths share in 2022.
UK and France collectively account for nearly under 55% share in 2022, with France holding over 22% share in the same year.
The rest of Europe and Italy contributes the remainder to the demand for HVAC.

The increasing demand for the HVAC industry can be attributed to the significant growth in the construction industry across the region. The growth of construction projects in Europe presents significant opportunities for the Europe HVAC market to expand. An example of such a project is De Zalmhaven, also known as Zalmhaven Toren, located in Rotterdam, Netherlands. This project includes a 215-meter residential tower, with Zalmhaven I being the tallest among the three towers. Once construction is completed in 2022, it will become the tallest residential skyscraper in BENELUX. Notably, the tower stands out as one of the most prefabricated buildings, as the entire structure up to the fourth level is fully prefabricated.

In Germany, the increasing investments by the country in the development of HVAC systems across the country are expected to drive market growth over the forecast period. For instance, in October 2022, Germany’s Ministry for Economic Affairs and Climate Action issued a call for proposals for research and pilot projects to accelerate the transition to heat pumps and other climate-neutral forms of heating and cooling.

In France, the increasing focus by various key players on the development of technologically advanced HVAC systems is driving market growth over the forecast period. For instance, in January 2023, Equium, a startup based in France, innovated a heat pump core that operates using acoustic waves and generates both hot and cold air. The company specializes in manufacturing these cores and collaborates with another company responsible for integrating them into heat pump systems. The scalability of these units ranges from 1 kW to 3 kW, making them suitable for residential applications.

Overall, economic growth, disposable income levels, and consumer confidence influence the demand for HVAC systems. During periods of economic prosperity, individuals and businesses are more likely to invest in new HVAC installations, driving the market growth.

The Emergence of the Replacement of Existing Equipment With Energy-Efficient Products

To cut carbon emissions and encourage sustainable practises, European nations have enacted strict energy efficiency laws and programmes. These regulations often require the replacement of outdated and inefficient HVAC systems with energy-efficient alternatives. Incentives such as rebates, tax credits, and subsidies further encourage businesses and homeowners to upgrade their HVAC equipment, driving the market growth.

Energy-efficient HVAC systems offer substantial cost savings over their lifespan. These systems consume less energy, leading to reduced utility bills for consumers. The operational efficiency of energy-efficient HVAC equipment also contributes to lower maintenance and repair costs. As businesses and homeowners recognize the long-term financial benefits of upgrading to energy-efficient solutions, there is a growing demand for replacements, boosting the HVAC market. The increasing government initiatives for HVAC replacement are also expected to drive market growth. For instance, European Commission Regulation (EU) 2016/2281 was first published in 2016. It established minimum ecodesign requirements for air heating and cooling products, high-temperature process chillers, and fan coil units. The EU first started to lay the groundwork for this change in 2011. Since then, HVAC industry associations like Eurovent have also provided input, seeing it as an opportunity for further innovation in the sector.

Growing Construction Industry

The residential construction sector in the Europe region has experienced significant growth. Several notable multi-family housing construction projects were initiated in Europe during Q3 2021. These include the ZAC Campus Grand Prac Mixed-Use Development, valued at USD 7,000 million, the Milanosesto Mixed-Use Complex with a value of USD 6,829 million, the Camden Goods Yard Mixed-Use Community worth USD 841 million, the Viaduct Mixed-Use Community valued at USD 333 million, and the Sackville Road Residential Community with a value of USD 332 million. These residential developments are expected to drive the demand for HVAC equipment studied in the market.

The Volatility in Energy Prices Including Electricity and Fuel

HVAC systems consume energy to provide heating, cooling, and ventilation services. Fluctuations in energy prices directly affect the operational costs of these systems. When energy prices rise, the cost of running HVAC equipment increases, leading to higher utility bills for businesses and homeowners. This can deter investments in new installations or upgrades, slowing down the growth of the HVAC market. Volatile energy prices can influence consumer behavior and purchasing decisions. When energy prices are high, consumers tend to become more conscious of their energy consumption and seek energy-efficient solutions to minimize costs. As customers explore for methods to lower their energy costs, this may increase demand for HVAC systems that are energy-efficient. Conversely, when energy prices are low, the sense of urgency to invest in energy-efficient HVAC solutions may decrease, impacting market growth.

The Emergence of IoT and Product Innovations

With the introduction of the Internet of Things (IoT), the HVAC business, like many other industries, has experienced a considerable upheaval. IoT technology has revolutionized the HVAC industry by enabling the development of smart HVAC systems that offer remote control, monitoring, and centralized management. This technological advancement has opened up numerous opportunities for growth and advancement in the industry.

One of the key benefits of IoT-enabled HVAC systems is the availability of real-time data on energy consumption, temperature, humidity, and other environmental factors. This data allows for more precise and efficient control of HVAC systems. Building owners and operators can leverage this information to optimize system performance and reduce energy consumption. By making data-driven decisions, they can achieve cost savings while maintaining a comfortable indoor environment. Various players across the region are incorporating IoT in the HVAC system which is expected to drive the market growth. For instance, in May 2023, SAUTER, a building automation and system integration service product announced the expansion of its range with the new generation of IoT-capable actuators. The Smart Actuator enables autonomous or semi-autonomous control in heating, ventilation, and air conditioning. Additional benefits include simple installation and commissioning, cloud connection with application library and remote access, as well as a smartphone app.

Competitive Landscape

Key Players

The Europe HVAC market is highly competitive, with the presence of several key players. Some of the major players in the market and their market share are as follows:

These companies focus on product innovation, expanding their applications, mergers, and acquisitions to stay ahead in the market. The major players in the Europe HVAC market constantly strive to stay ahead by introducing new products and innovations.

In August 2021, Midea, a Chinese appliance manufacturer, became the exclusive recipient of Germany’s renowned “Blue Angel” ecolabel for room air conditioner models. The ecolabel, established in 1978, is the oldest of its kind and is owned by the German Federal Ministry for the Environment, with administration by the Federal Environmental Agency (UBA). Small propane (R290) split air conditioners manufactured by Midea were the only models to meet the stringent criteria set by the Blue Angel certification. Currently, approximately 12,000 products across 120 different product classes proudly carry this prestigious label.

In May 2022, the PRIMAIRY P300 range of high-efficiency, single-zone commercial mini-split systems from Johnson Controls-Hitachi has a new model. This latest offering is a Wall Mount indoor mini-split unit designed to cater to the specific needs of small to medium-sized spaces like retail establishments, dining establishments, and educational facilities. The Wall Mount unit stands out for its compact and lightweight design, providing installation convenience for contractors. The entire range of Hitachi PRIMARY mini-split systems offers multiple mounting options, further facilitating installation. With the advantage of long pipe capabilities, contractors have greater freedom in system layout, while the extensive capacity range ensures precise sizing for any application.

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Summary of Key Findings

The HVAC industry has witnessed a significant transformation with the emergence of the Internet of Things (IoT) in recent years. IoT technology has revolutionized the HVAC sector by introducing smart HVAC systems that can be remotely controlled, monitored, and managed through a centralized system. driving market growth

Market segmented by equipment, end user, and Country.
Heating equipment is the most popular, with air conditioning/ventilation equipment as the fastest-growing segment.
Residential users hold the dominant position in the revenue share in the year 2022.

Germany is leading market growth; the market is highly competitive with key players including Valeo GmbH, Viessmann Climate Solutions SE, and Vaillant Group. and others.

Future Outlook

Positive outlook for the Europe HVAC market with significant growth in the construction industry across the region
The emergence of the replacement of existing equipment with energy-efficient products is driving the growth of Europe have market
Challenges like volatility in energy prices including electricity and fuel can impact the growth of the Europe HVAC market.

Segmentation

By Equipment
- Air Conditioning/Ventilation Equipment
- Heating Equipment
By Applications
- Residential
- Commercial
- Industrial
By Country

Europe
- Germany
- France
- The U.K.
- Italy
- Spain
- Rest of Europe

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Data Modelling
1.3.2.1. Company Share Analysis Model
1.3.2.2. Revenue Based Modelling
1.3.3. Phase III – Primary Research
1.3.4. Research Limitations
1.3.5. Assumptions
1.4. Market Introduction
1.5. Market Research Scope

2. Executive Summary
2.1. Market Snapshot: Europe HVAC Market
2.2. Europe HVAC Market, By Equipment
2.3. Europe HVAC Market, By End-user
2.4. Europe HVAC Market, By Country

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Europe HVAC Market Value, 2017-2030, (US$ Bn)
3.1.2. Y-o-Y Growth Trend Analysis
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.2.3. Market Opportunities
3.2.4. Major Industry Challenges
3.3. Growth and Development Patterns
3.4. Investment Feasibility Analysis
3.5. Market Opportunity Analysis
3.5.1. Equipment
3.5.2. End-user
3.5.3. Geography

4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Equipments
4.2.5. Intensity of Competitive Rivalry
4.3. Key Market Trends
4.3.1. Demand Side Trends
4.3.2. Supply Side Trends
4.4. Value Chain Analysis
4.5. Technology Analysis
4.6. Analysis and Recommendations
4.7. Marketing Strategy Analysis
4.7.1. Direct Marketing
4.7.2. Indirect Marketing
4.7.3. Marketing Channel Development Trend

5. Market Positioning of Key Players, 2022
5.1. Company market share of key players, 2022
5.2. Competitive Benchmarking
5.3. Market Positioning of Key Vendors
5.4. Geographical Presence Analysis
5.5. Major Strategies Adopted by Key Players
5.5.1. Key Strategies Analysis
5.5.2. Mergers and Acquisitions
5.5.3. Partnerships
5.5.4. Product Launch
5.5.5. Geographical Expansion
5.5.6. Others

6. Economic Impact Analysis
6.1. Recession Impact
6.1.1. UK
6.1.2. Europe
6.1.3. France
6.1.4. Italy
6.1.5. Rest of Europe
6.2. Ukraine-Russia War Impact
6.2.1. UK
6.2.2. Europe
6.2.3. France
6.2.4. Italy
6.2.5. Rest of Europe
6.3. COVID-19 Impact Analysis
6.3.1. UK
6.3.2. Europe
6.3.3. France
6.3.4. Italy
6.3.5. Rest of Europe

7. Europe HVAC Market, By Equipment
7.1. Europe HVAC Market Overview, by Equipment
7.1.1. Europe HVAC Market Revenue Share, By Equipment, 2022 Vs 2030 (in %)
7.2. Air Conditioning/Ventilation Equipment
7.2.1. Europe HVAC Market, By Country, 2017-2030 (US$ Bn)
7.3. Heating Equipment
7.3.1. Europe HVAC Market, By Country, 2017-2030 (US$ Bn)

8. Europe HVAC Market, By End-user
8.1. Europe HVAC Market Overview, by End-user
8.1.1. Europe HVAC Market, By End-user, 2022 vs 2030 (in %)
8.2. Residential
8.2.1. Europe HVAC Market, By Country, 2017-2030 (US$ Bn)
8.3. Commercial
8.3.1. Europe HVAC Market, By Country, 2017-2030 (US$ Bn)
8.4. Industrial
8.4.1. Europe HVAC Market, By Country, 2017-2030 (US$ Bn)

9. Europe HVAC Market, By Country
9.1. Europe HVAC Market Overview, by Country
9.1.1. Europe HVAC Market, By Country, 2022 vs 2030 (in%)
9.2. Equipment
9.2.1. Europe HVAC Market, By Equipment, 2017-2030 (US$ Bn)
9.3. End-user
9.3.1. Europe HVAC Market, By End-user, 2017-2030 (US$ Bn)

10. UK HVAC Market Analysis
10.1. UK HVAC Market, by Equipment, 2017-2030(US$ Bn)
10.1.1. Overview
10.1.2. SRC Analysis
10.2. UK HVAC Market, by End-user, 2017-2030(US$ Bn)
10.2.1. Overview
10.2.2. SRC Analysis

11. Germany HVAC Market Analysis
11.1. Germany HVAC Market, by Equipment, 2017-2030(US$ Bn)
11.1.1. Overview
11.1.2. SRC Analysis
11.2. Germany HVAC Market, by End-user, 2017-2030(US$ Bn)
11.2.1. Overview
11.2.2. SRC Analysis

12. France HVAC Market Analysis
12.1. France HVAC Market, by Equipment, 2017-2030(US$ Bn)
12.1.1. Overview
12.1.2. SRC Analysis
12.2. France HVAC Market, by End-user, 2017-2030(US$ Bn)
12.2.1. Overview
12.2.2. SRC Analysis
13. Italy HVAC Market Analysis
13.1. Italy HVAC Market, by Equipment, 2017-2030(US$ Bn)
13.1.1. Overview
13.1.2. SRC Analysis
13.2. Italy HVAC Market, by End-user, 2017-2030(US$ Bn)
13.2.1. Overview
13.2.2. SRC Analysis

14. Rest of Europe HVAC Market Analysis
14.1. Rest of Europe HVAC Market, by Equipment, 2017-2030(US$ Bn)
14.1.1. Overview
14.1.2. SRC Analysis
14.2. Rest of Europe HVAC Market, by End-user, 2017-2030(US$ Bn)
14.2.1. Overview
14.2.2. SRC Analysis

15. Company Profiles
15.1. Daikin Industries, Ltd.
15.1.1. Company Overview
15.1.2. Product /Services Portfolio
15.1.3. Geographical Presence
15.1.4. Financial Summary
15.1.4.1. Market Revenue and Net Profit (2019-2022)
15.1.4.2. Business Segment Revenue Analysis
15.1.4.3. Geographical Revenue Analysis
15.2. ROBERT Bosch GmbH
15.3. Mitsubishi Electric Europe B.V
15.4. Danfoss A/S
15.5. Valliant Group
15.6. Carrier Global Corporation
15.7. Alfa Laval AB
15.8. Lennox International Inc
15.9. Ariston Thermo SpA
15.10. BDR Thermea Group

List of Figures
FIG. 1 Europe HVAC Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Europe HVAC Market Segmentation
FIG. 4 Europe HVAC Market, by Equipment, 2022 (US$ Bn)
FIG. 5 Europe HVAC Market, by End-user, 2022 (US$ Bn)
FIG. 6 Europe HVAC Market, by Geography, 2022 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Equipment, 2022
FIG. 8 Attractive Investment Proposition, by End-user, 2022
FIG. 9 Europe Market Share Analysis of Key HVAC Market Manufacturers, 2022
FIG. 10 Europe Market Positioning of Key HVAC Market Manufacturers, 2022
FIG. 11 Europe HVAC Market Value Contribution, By Equipment, 2022 & 2030 (Value %)
FIG. 12 Europe HVAC Market, by Air Conditioning/Ventilation Equipment, Value, 2017-2030 (US$ Bn)
FIG. 13 Europe HVAC Market, by Heating Equipment, Value, 2017-2030 (US$ Bn)
FIG. 14 Europe HVAC Market Value Contribution, By End-user, 2022 & 2030 (Value %)
FIG. 15 Europe HVAC Market, by Residential, Value, 2017-2030 (US$ Bn)
FIG. 16 Europe HVAC Market, by Commercial, 2017-2030 (US$ Bn)
FIG. 17 Europe HVAC Market, by Industrial, 2017-2030 (US$ Bn)
FIG. 18 Europe HVAC Market, by Others, 2017-2030 (US$ Bn)
FIG. 19 UK HVAC Market, 2017-2030 (US$ Bn)
FIG. 20 Germany HVAC Market, 2017-2030 (US$ Bn)
FIG. 21 France HVAC Market, 2017-2030 (US$ Bn)
FIG. 22 Italy HVAC Market, 2017-2030 (US$ Bn)
FIG. 23 Rest of Europe HVAC Market, 2017-2030 (US$ Bn)

List of Tables
TABLE 1 Market Snapshot: Europe HVAC Market
TABLE 2 Europe HVAC Market: Market Drivers Impact Analysis
TABLE 3 Europe HVAC Market: Market Restraints Impact Analysis
TABLE 4 Europe HVAC Market, by Competitive Benchmarking, 2022
TABLE 5 Europe HVAC Market, by Geographical Presence Analysis, 2022
TABLE 6 Europe HVAC Market, by Key Strategies Analysis, 2022
TABLE 7 Europe HVAC Market, by Air Conditioning/Ventilation Equipment, By Country, 2017-2022 (US$ Bn)
TABLE 8 Europe HVAC Market, by Air Conditioning/Ventilation Equipment, By Country, 2023-2030 (US$ Bn)
TABLE 9 Europe HVAC Market, by Heating Equipment, By Country, 2017-2022 (US$ Bn)
TABLE 10 Europe HVAC Market, by Heating Equipment, By Country, 2023-2030 (US$ Bn)
TABLE 11 Europe HVAC Market, by Residential, By Country, 2017-2022 (US$ Bn)
TABLE 12 Europe HVAC Market, by Residential, By Country, 2023-2030 (US$ Bn)
TABLE 13 Europe HVAC Market, by Commercial, By Country, 2017-2022 (US$ Bn)
TABLE 14 Europe HVAC Market, by Commercial, By Country, 2023-2030 (US$ Bn)
TABLE 15 Europe HVAC Market, by Industrial, By Country, 2017-2022 (US$ Bn)
TABLE 16 Europe HVAC Market, by Industrial, By Country, 2023-2030 (US$ Bn)
TABLE 17 UK HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 18 UK HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 19 UK HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 20 UK HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 21 UK HVAC Market, by Country, 2017-2022 (US$ Bn)
TABLE 22 UK HVAC Market, by Country, 2023-2030 (US$ Bn)
TABLE 23 Europe HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 24 Germany HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 25 Germany HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 26 Germany HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 27 Germany HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 28 France HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 29 France HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 30 France HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 31 France HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 32 France HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 33 France HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 34 France HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 35 France HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 36 France HVAC Market, by Country, 2017-2022 (US$ Bn)
TABLE 37 France HVAC Market, by Country, 2023-2030 (US$ Bn)
TABLE 38 Italy HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 39 Italy HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 40 Italy HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 41 Italy HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 42 Italy HVAC Market, by Country, 2017-2022 (US$ Bn)
TABLE 43 Italy HVAC Market, by Country, 2023-2030 (US$ Bn)
TABLE 44 Rest of Europe HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 45 Rest of Europe HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 46 Rest of Europe HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 47 Rest of Europe HVAC Market, by End-user, 2023-2030 (US$ Bn)
TABLE 48 Rest of Europe HVAC Market, by Country, 2017-2022 (US$ Bn)
TABLE 49 Rest of Europe HVAC Market, by Country, 2023-2030 (US$ Bn)
TABLE 50 Rest of Rest of Europe HVAC Market, by Equipment, 2017-2022 (US$ Bn)
TABLE 51 Rest of Rest of Europe HVAC Market, by Equipment, 2023-2030 (US$ Bn)
TABLE 52 Rest of Rest of Europe HVAC Market, by End-user, 2017-2022 (US$ Bn)
TABLE 53 Rest of Rest of Europe HVAC Market, by End-user, 2023-2030 (US$ Bn)

Frequently Asked Questions

What is the current size of the Europe HVAC market?

The Europe HVAC market was valued at USD 26.8 Billion in 2022.

What is the expected growth rate of the HVAC market between 2023 and 2030?

The HVAC market is expected to grow at a CAGR of 6.50% between 2023 and 2030, reaching USD 41.64 Billion in 2030.

Which equipment segment is leading the market share in terms of product type?

Heating equipment is the leading segment by type, holding around half of the share in value in 2022.

Which end-user segment governs the demand for HVAC in the world?

The residential segment governs the demand for HVAC across the region, holding a massive share in 2022.

Which segment is expected to post the highest CAGR during the forecast period?

The commercial segment is expected to post the highest CAGR during the forecast period.

Which country is fueling the growth of the HVAC industry?

Germany is fueling the growth of the HVAC industry, with a nearly two-fifth share in 2022.

Who are the major players in the Europe HVAC market?

The top players include Daikin Industries, Ltd., ROBERT Bosch GmbH, Mitsubishi Electric Europe B.V, Danfoss A/S, Valliant Group, Carrier Global Corporation, Alfa Laval AB, Lennox International In, Ariston Thermo SpA, BDR Thermea Group, and others.

What is the major market driver of the HVAC industry?

The Emergence of the Replacement of Existing Equipment With Energy-Efficient Products is the major market driver.

What are the major market restraints of the HVAC industry?

Volatility in energy pricing including energy and fuel is expected to restrain the HVAC industry.

What are the major market opportunities of the HVAC industry?

The emergence of IoT and product innovation opportunities for the HVAC industry.

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