Subjects: SVY, MRR
Europe HVAC Market will Create USD 4 Billion in Opportunities Each Year for the Next 5 Years. Climatic Conditions & Heatwaves to Boost the Market Sale - Arizton
CHICAGO, Nov. 30, 2022 /PRNewswire/ -- According to Arizton's latest research report, Europe HVAC market to grow at a CAGR of 5.92% during 2023-2028. Replacement of existing equipment with energy-efficient products, the emergence of IoT and product innovations to aid replacements, and Europe's climatic conditions and heatwave propelling the demand for HVAC systems.
In recent years, extreme summer heat waves have driven spikes in sales of room ACs, and the temperature during summer reaches 113 Fahrenheit, breaking the record in Europe. Hence, the increased temperature propels the demand for ACs for commercial and residential purposes. In 2021, the International Energy Agency (IEA) estimated air-conditioner stock in Europe would double in the next two decades as record heat becomes more prevalent. Hence, driving the HVAC market's growth in the upcoming years.
In Germany, centralized air conditioning solutions are growing in demand through chillers and VRF systems. However, in many places, VRF systems are replacing chillers. VRF sales are expected to rise in tune with global trends as they help save operational costs. The UK industry is strongly connected to the business trends of Europe and driven by construction activities in London. Hence, the VRF system will play a vital role in the Europe HVAC market.
Europe HVAC Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 86.49 Billion |
Market Size (2022) | USD 61.26 Billion |
CAGR (2022-2028) | 5.92 % |
Base Year | 2022 |
Historic Year | 2019-2021 |
Forecast Year | 2023-2028 |
Market Segments | Equipment, Application, and Geography |
Geographic Analysis | Western Europe, Nordic, and Central & Eastern Europe |
Countries Covered | UK, Germany, France, Italy, Netherlands, Norway, Denmark, Sweden, Russia, Poland & Austria, and Other CEE Countries |
Key Vendors | Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, Mitsubishi Electric, LG, Panasonic, Carrier, Midea, Regal, Raytheon Technologies, Honeywell, Flakt Group, Beijer Ref, Flexit, Grundfos, Swegon, VTS, Nuaire, Nortek, Alfa Laval, Hitachi, Lu-Ve, Vent-Axia, Rosenberg, S & P, WOLF, CIAT, AL-KO, DynAIR, Danfoss, Lennox, Backer Springfield, Dunham-Bush, TCL, TROX, Vaillant Group, Ingersoll Rand, and Camfil
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Page Number | 250 |
Market Dynamics | Rising Construction Industry Airport Modernization Growing VRF Systems
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Competitive Landscape | The business overview, product offerings, key strengths, key strategies, and key opportunities
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In 2022, European countries are witnessing drastic climate changes. Rising temperatures and heat waves increased the demand for HVAC systems in commercial and residential buildings to control indoor climate conditions. Along with providing residents with comfort, filtering can also improve indoor air quality. Hence these factors propel sales growth across Europe during the forecast period.
Due to the highly competitive market, R&D investments in the HVAC industry are limited and have substantial investments, mainly from large vendors. Moreover, the short time-to-market and narrow acceptance of new technologies add to market challenges for HVAC vendors. R&D investments are more focused on cost reduction of the production process and improvement of the existing product technology for value addition than developing new products.
The emergence of IoT and Product Innovations to Aid Replacements
The demand for energy in the construction sector tripled over the last 20 to 30 years, with over 8% of electricity consumption for space cooling technology over the past few years. The demand for space cooling increased, with the number of HVAC units expected to reach 151.1 million. IoT has the advantage to impact HVAC systems through its smart technologies, which allow manufacturers to increase productivity and optimize assets. Manufacturers and building companies look for smart IoT HVAC systems that provide the most authentic and real-time operational data for their devices installed in residential, industrial, or commercial buildings. More complex analytical capabilities and algorithms are increasing in the smart HVAC market. It brings the demand for a robust IoT network that enables data sharing. Therefore, the advances and development in new IoT-based HVAC systems brought a revolution in the current construction generation. Hence, modern technology expects to propel the demand for smart HVAC systems in the upcoming years.
Segmentation Insights
HVAC commonly refers to heating, ventilation, cooling, collective heating, and cooling technologies used at commercial, residential, industrial, and public utility buildings. The Europe HVAC market can be divided into three categories based on functionality: heating, ventilation, and air conditioning. The Europe HVAC market in heating equipment is growing at a CAGR of over 6% during the forecast period. The heating equipment industry is characterized by intense competition, as the same has high traction in the cold climatic conditions of the region. The heating equipment is generally bulky; hence, the industry is characterized by many local/domestic vendors. Moreover, the service and maintenance required for these tools also bring in high revenue.
The Europe HVAC market by end-use can be categorized as residential and commercial sectors. The residential sector demand in 2022 is expected to grow due to the construction industry skyrocketing in European countries. The demand for new equipment and replacement is expected to be impacted as consumers seek to cut down on non-essential purchases. Europe HVAC market by residential sector is growing at a CAGR of 5.43% during the forecast period.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request for Free Sample Report.
Key Company Profiles
- Systemair
- Johnson Controls
- Zehnder
- Ostberg
- Aldes
- Bosch
- Daikin
- Samsung
- Mitsubishi Electric
- LG
- Panasonic
- Carrier
- Midea
- Regal
- Raytheon Technologies
- Honeywell
- Flakt Group
- Beijer Ref
- Flexit
- Grundfos
- Swegon
- VTS
- Nuaire
- Nortek
- Alfa Laval
- Hitachi
- Lu-Ve
- Vent-Axia
- Rosenberg
- S & P
- WOLF
- CIAT
- AL-KO
- DynAIR
- Danfoss
- Lennox
- Backer Springfield
- Dunham-Bush
- TCL
- TROX
- Vaillant Group
- Ingersoll Rand
- Camfil
The report considers the present scenario of the Europe HVAC market and its dynamics for 2023-2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.
Segmentation by Equipment
- Heating
- Heat Pump
- Boiler Units
- Furnaces
- Others
- Air Conditioning
- RAC
- CAC
- Chillers
- Heat Exchangers
- Others
- Ventilation
- Air Handling Units
- Air filters
- Humidifiers & Dehumidifiers
- Fan Coil Units
- Others
Segmentation by Application
- Residential
- Commercial
- Airports &Public
- Office Spaces
- Hospitality
- Hospitals
- Industrial & Others
Segmentation by Geography
- Western Europe
- UK
- Germany
- France
- Italy
- Netherlands
- Nordic
- Norway
- Denmark
- Sweden
- Others
- Central & Eastern Europe
- Russia
- Poland & Austria
- Other CEE Countries
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTATION
4.4.1 MARKET SEGMENTATION BY EQUIPMENT TYPE
4.4.2 MARKET SEGMENTATION BY HEATING
4.4.3 MARKET SEGMENTATION BY AIR CONDITIONER
4.4.4 MARKET SEGMENTATION BY VENTILATION EQUIPMENT
4.4.5 MARKET SEGMENTATION BY APPLICATION
4.4.6 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 ADVANTAGES OF SMART HVAC SYSTEM
8.1.2 DISADVANTAGES OF SMART HVAC SYSTEM
8.1.3 RISK MANAGEMENT
8.1.4 PROFIT MARGINS
8.1.5 MERGER & ACQUISITIONS AND PRODUCT DEVELOPMENT
8.1.6 ENVIRONMENTALLY FRIENDLY HVAC
8.1.7 RESIDENTIAL CONSTRUCTIONS
8.1.8 NON-RESIDENTIAL CONSTRUCTIONS
8.2 VALUE CHAIN
8.2.1 RAW MATERIAL SUPPLIERS & COMPONENTS
8.2.2 MANUFACTURERS
8.2.3 DEALERS /DISTRIBUTOR
8.2.4 RETAILERS
8.2.5 END-USERS
8.3 IMPACT OF COVID-19
9 MARKET OPPORTUNITY & TRENDS
9.1 REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS
9.2 EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS
9.3 CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM
10 MARKET GROWTH ENABLERS
10.1 RISING CONSTRUCTION INDUSTRY
10.2 AIRPORT MODERNIZATION
10.3 GROWING VRF SYSTEMS
11 MARKET RESTRAINTS
11.1 LACK OF SKILLED LABOR
11.2 STRINGENCY IN REGULATIONS
11.3 VULNERABILITY TO COVID-19
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.1.1 KEY INSIGHTS
12.2 MARKET SIZE & FORECAST
12.2.1 VALUE
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 EQUIPMENT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.2.1 KEY INSIGHTS
13.3 HEATING
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.3.4 HEAT PUMP: MARKET SIZE & FORECAST
13.3.5 BOILER UNIT: MARKET SIZE & FORECAST
13.3.6 FURNACE: MARKET SIZE & FORECAST
13.3.7 OTHERS: MARKET SIZE & FORECAST
13.4 AIR CONDITIONING
13.4.1 MARKET OVERVIEW
13.4.2 KEY TAKEAWAYS
13.4.3 MARKET SIZE & FORECAST
13.4.4 MARKET BY GEOGRAPHY
13.4.5 RAC: MARKET SIZE & FORECAST
13.4.6 CAC: MARKET SIZE & FORECAST
13.4.7 CHILLERS: MARKET SIZE & FORECAST
13.4.8 HEAT EXCHANGER: MARKET SIZE & FORECAST (INCLUDES COOLING TOWER)
13.4.9 OTHERS: MARKET SIZE & FORECAST
13.5 VENTILATION
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY GEOGRAPHY
13.5.4 AIR HANDLING UNITS: MARKET SIZE & FORECAST
13.5.5 AIR FILTERS: MARKET SIZE & FORECAST
13.5.6 HUMIDIFIER & DEHUMIDIFIERS: MARKET SIZE & FORECAST
13.5.7 FAN COIL UNIT: MARKET SIZE & FORECAST
13.5.8 OTHERS: MARKET SIZE & FORECAST
14 END-USER
14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
14.2 MARKET OVERVIEW
14.3 RESIDENTIAL
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 COMMERCIAL
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
14.4.4 OFFICE SPACES: MARKET SIZE & FORECAST
14.4.5 AIRPORT & PUBLIC UTILITIES: MARKET SIZE & FORECAST
14.4.6 HOSPITALITY: MARKET SIZE & FORECAST
14.4.7 HOSPITALS: MARKET SIZE & FORECAST
14.4.8 INDUSTRIAL AND OTHERS: MARKET SIZE & FORECAST
15 GEOGRAPHY
15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
15.2 GEOGRAPHY OVERVIEW
16 WESTERN EUROPE
16.1 MARKET OVERVIEW
16.2 MARKET SIZE & FORECAST
16.3 EQUIPMENT
16.3.1 MARKET SIZE & FORECAST
16.4 END-USER
16.4.1 MARKET SIZE & FORECAST
16.5 KEY COUNTRIES
16.5.1 GERMANY: MARKET SIZE & FORECAST
16.5.2 FRANCE: MARKET SIZE & FORECAST
16.5.3 UK: MARKET SIZE & FORECAST
16.5.4 ITALY: MARKET SIZE & FORECAST
16.5.5 NETHERLANDS: MARKET SIZE & FORECAST
17 NORDIC
17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.3 EQUIPMENT
17.3.1 MARKET SIZE & FORECAST
17.4 END-USER
17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES
17.5.1 NORWAY: MARKET SIZE & FORECAST
17.5.2 DENMARK: MARKET SIZE & FORECAST
17.5.3 SWEDEN: MARKET SIZE & FORECAST
17.5.4 OTHER COUNTRIES IN NORDIC: MARKET SIZE & FORECAST
18 CENTRAL & EASTERN EUROPE (CEE)
18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 EQUIPMENT
18.3.1 MARKET SIZE & FORECAST
18.4 END-USER
18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES
18.5.1 RUSSIA: MARKET SIZE & FORECAST
18.5.2 POLAND & AUSTRIA: MARKET SIZE & FORECAST
18.5.3 OTHER CEE COUNTRIES: MARKET SIZE & FORECAST
19 COMPETITIVE LANDSCAPE
19.1 COMPETITION OVERVIEW
20 KEY COMPANY PROFILES
20.1 SYSTEMAIR
20.1.1 BUSINESS OVERVIEW
20.1.2 PRODUCT OFFERINGS
20.1.3 KEY STRATEGIES
20.1.4 KEY STRENGTHS
20.1.5 KEY OPPORTUNITIES
20.2 JOHNSON CONTROLS
20.3 ZEHNDER
20.4 OSTBERG
20.5 ALDES
20.6 BOSCH
20.7 DAIKIN
20.8 SAMSUNG
20.9 MITSUBISHI ELECTRIC
21 OTHER PROMINENT VENDORS
21.1 LG
21.1.1 BUSINESS OVERVIEW
21.1.2 PRODUCT OFFERINGS
21.2 PANASONIC
21.3 CARRIER
21.4 MIDEA
21.5 REGAL
21.6 RAYTHEON TECHNOLOGIES
21.7 HONEYWELL
21.8 FLAKT GROUP
21.9 BEIJER REF
21.10 FLEXIT
21.11 GRUNDFOS
21.12 SWEGON
21.13 VTS
21.14 NUAIRE
21.15 NORTEK
21.16 ALFA LAVAL
21.17 HITACHI
21.18 LU-VE
21.19 VENT-AXIA
21.20 ROSENBERG
21.21 S & P
21.22 WOLF
21.23 CIAT
21.24 AL-KO
21.25 DYNAIR
21.26 DANFOSS
21.27 LENNOX
21.28 BACKER SPRINGFIELD
21.29 DUNHAM BUSH
21.30 TCL
21.31 TROX
21.32 VAILLANT GROUP
21.33 INGERSOLL RAND
21.34 CAMFIL
22 REPORT SUMMARY
22.1 KEY TAKEAWAYS
22.2 STRATEGIC RECOMMENDATIONS
23 QUANTITATIVE SUMMARY
23.1 MARKET BY GEOGRAPHY
23.1.1 MARKET SIZE & FORECAST
23.2 MARKET BY WESTERN EUROPE
23.2.1 MARKET SIZE & FORECAST BY EQUIPMENT
23.2.2 MARKET SIZE & FORECAST BY END-USER
23.3 MARKET BY NORDIC
23.3.1 MARKET SIZE & FORECAST BY EQUIPMENT
23.3.2 MARKET SIZE & FORECAST BY END-USER
23.4 MARKET BY CEE
23.4.1 MARKET SIZE & FORECAST BY EQUIPMENT
23.4.2 MARKET SIZE & FORECAST BY END-USER
23.5 MARKET BY EQUIPMENT
23.5.1 MARKET SIZE & FORECAST
23.6 MARKET BY EQUIPMENT
23.6.1 MARKET SIZE & FORECAST
23.7 MARKET BY EQUIPMENT
23.7.1 MARKET SIZE & FORECAST
23.8 MARKET BY END-USER
23.8.1 MARKET SIZE & FORECAST
23.9 MARKET BY COMMERCIAL APPLICATION
23.9.1 MARKET SIZE & FORECAST
24 APPENDIX
24.1 ABBREVIATIONS
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