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The Europe HVAC market is projected to grow at a CAGR of 5.6% between 2024 and 2032. The rising installation of air conditioners in residential settings and the development of high-performance heat pumps are expected to fuel the market in the forecast period.
The increasing demand for air conditioners and heat pumps in southern European countries, such as Italy, France, and Spain is expected to drive the market growth. The International Atomic Energy estimates that Europe can have nearly 520 million units of ACs by 2050, recording a fourfold increase from 130 million units in 2023. While the current penetration rate of ACs in Europe is merely 19% (significantly lower than countries like China, the USA, and Japan), it is expected that rising global temperature and climate change may impact the demand for HVAC systems, thereby driving the market development.
Increasing investments into the commercialisation of new business models and the development of innovative heat pumps and low-carbon technologies are expected to contribute to the market expansion. In May 2024, the UK’s Department of Energy Security and Net Zero created the Net Zero Innovation Portfolio, whereby funded the Heat Pump Ready Scheme with 5.3 million pounds to accelerate the development of solutions which simplify the process of heat pump installation and enhance the performance and safety levels of the device. By minimising the costs of lifetime ownership of heat pumps, their consumer appeal can be boosted, which, in turn, facilitates the market growth.
Europe HVAC Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Equipment
Market Breakup by Implementation Type
Market Breakup by End Use
Market Breakup by Country
Based on country, the market is divided into Germany, the United Kingdom, France, and Italy, among others. Over the forecast period, Germany is expected to emerge as one of the leading markets for HVAC systems, as the German government implements the system of district cooling to minimise electricity bills and the environmental footprint.
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Major market players are designing energy-efficient HVAC systems, which enjoy high consumer demand.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Equipment |
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Breakup by Implementation Type |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 5.6% between 2024 and 2032.
The different end uses of HVAC in the market include residential, commercial, and industrial.
The different types of implementations of HVAC include new constructions and retrofits.
The major regions in the market include Germany, the United Kingdom, France, and Italy, among others.
The key market players are Robert Bosch GmbH, Mitsubishi Electric Corporation, Alfa Laval AB, Daikin Industries Ltd., Lennox International Inc., Carrier Global Corp., Ariston Holding N.V., Danfoss A/S, Vaillant GmbH, and BDR Thermea Group B.V., among others.
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