Italy Air Conditioner Market Report and Forecast 2024-2032

Italy Air Conditioner Market Size

The Italy Air conditioner market reached USD 2.42 billion in 2023. The market is expected to grow at a CAGR of 4.7% between 2024 and 2032, reaching almost USD 3.65 billion by 2032.

Italy Air Conditioner Market Outlook

• As per ISTAT, output at basic prices for electricity, gas, steam, and air conditioning supply in 2022 was EUR 85.5 billion.

• The World Bank reports a continual increase in Italy's yearly average surface temperature, reaching 14.38 degrees Celsius in 2022.

• As per the European Construction Industry Federation, 140,084 buildings were constructed in 2022, with investment in construction being EUR 177 billion.

Italy Air Conditioner Market Growth

The domestic sector is expected to experience growth due to increasing heatwaves, prompting both individuals and businesses to adopt air conditioning to counter rising temperatures. According to the Italian Hospitality Investment Conference (ITHIC) in 2023, an analysis of the top 15 Italian regions revealed a rise in tourist numbers compared to 2022. Southern regions notably saw record-breaking figures in 2023, with Veneto and Tuscany ranking among the top three regions with the highest visitor volumes.

Italy air conditioner market trends suggest a strong movement among companies towards innovations, research and development of novel technologies and acquisitions and mergers to help with scaling coupled with a rising pattern among brands opening production and development bases throughout the region.

Key Trends and Developments

The Italy air conditioner market growth is driven by the introduction of new-generation air conditioners, increased commercial applications due to rising temperatures throughout the region, expanding private usage, and growing interest among Heating, Ventilation and Air Conditioning (HVAC) brands in the domestic region.

March 2024

LG unveiled its brand new DualCool air conditioner at MCE 2024, one of Europe's biggest heating,  ventilation, and air conditioning (HVAC) exhibitions. The move underscores the importance of technological innovation in the industry.

February 2024

Panasonic acquired a 40% stake in Innova, an Italian air conditioning and heat pump manufacturer as part of the business alliance agreement. The move comes ahead of expansionary plans of Panasonic.

November 2023

Aira which is a Swedish heat pump company officially launched in Italy. Aira is a direct-to-consumer company which offers heat pumps on a monthly subscription.

October 2022

With an 80 percent stake in Clivet, an Italian air conditioning company, Midea Group, a Chinese brand constructed a new base for production in Veneto  with an investment of EUR 60 million.

Heatwaves in domestic regions may increase demand

Rising temperatures across Europe are likely to push consumers to invest in air conditioning as they find it difficult to deal with worsening heat waves.

Mergers and Acquisitions help the market grow

Expansion of Foreign firms into domestic markets and construction of research centres and manufacturing units proves to be an important move in the right direction.

Technological ingenuity promotes economic expansion

Breakthroughs in technology help in bridging the gap between sustainability concerns and effectiveness in fighting extreme climate conditions.

Commercial usage may help the domestic market

A rise in scorching heatwaves is likely to prompt people to stay indoors, seeking refuge in air-conditioned malls and public spaces.

Italy Air Conditioner Market Trends

As per the Italy air conditioner market report, rising temperatures and heat waves drive consumer demand for cooling solutions, spurred by heightened climate awareness.

Foreign firms' influx capitalises on Italy's need for advanced cooling tech, while mergers bolster domestic players and foster innovation and localised production.

Technological advances in sustainability and efficiency empower consumers and businesses to combat climate challenges, with commercial usage escalating amid heat wavesemphasizing air conditioning's vital role.

Italy Air Conditioner Industry Segmentation

Italy Air Conditioner Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Window AC

• Central AC

• Mini Split AC

• Others

Market Breakup by Size

• <12K BTU

• 12K-36K BTU

• 36K-60K BTU

• 60K+ BTU

Market Breakup by End Use

• Commercial

• Residential

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets

• Specialty Stores

• Online Channels

• Others

Market Breakup by Region

• Lombardy

• Lazio

• Veneto

• Emilia-Romagna

• Piedmont

• Tuscany

• Others

Italy Air Conditioner Market Share

The Italy air conditioner market growth is fuelled by commercial usage and residential usage. Italy is likely to see an uptick in air conditioning usage to combat rising temperatures.

Commercial air conditioning in Italy caters to businesses, hotels, and public spaces, driven by the need for climate control to ensure comfort for employees, guests, and customers.

Residential air conditioning addresses the cooling needs of homes and apartments, relieving residents from extreme temperatures and enhancing indoor comfort.

The Italy air conditioner market is boosted by online consumption methods, including platforms like eBay and Amazon, shaping distribution patterns within the industry.

Online distribution channels like eBay and Amazon offer consumers convenience and accessibility, allowing them to browse and purchase air conditioners from anywhere.

Hypermarkets and supermarkets in Italy provide convenient access, catering to consumers' immediate cooling needs with a wide range of products under one roof.

The Italy air conditioner market growth in the domestic market is led by central air conditioners for commercial usage and mini split and window air conditioners for residential usage.

Central air conditioners are built to cool entire buildings uniformly, maintaining a consistent temperature across multiple rooms or floors. They are commonly used in large commercial buildings.

Window air conditioners are designed to cool individual rooms or smaller spaces by mounting directly onto windows. They are a popular choice among residential users seeking quick and efficient cooling solutions.

Leading Manufacturers in the Italy Air Conditioner Market

Key players in the Italy air conditioner market are prompting growth by capturing greater market share through innovations and economies of scale through mergers.

Johnson Controls International Plc is an American Irish multinational conglomerate which is headquartered in Cork, Ireland. It was founded in the year 1885 and specialises in manufacturing HVAC equipment for buildings.

Daikin Industries, Ltd. Which was founded in the year 1924 is a Japanese multinational conglomerate headquartered in Osaka. It is one of the world's leading air conditioner manufacturers.

Samsung Electronics Co. Ltd. Was established in 1918 in Osaka, Japan and is a multinational company that specialises in the manufacturing of electronic appliances and consumer electronic products.

LG Corporation is a South Korean multinational conglomerate based in Busan which specialises in the manufacturing of consumer electronics and home appliances. It was founded in the year 1947.

Other Italy air conditioner market key players are AB Electrolux, Hughes Group, Haier Group Corp., Panasonic Holdings Corporation, Carrier Global Corporation, and Mitsubishi Electric Corp among others.

Italy Air Conditioner Market by Region

The Italian market as per region is divided into states of which 6 states comprise roughly 56% of the population. Lombardy is the most populous region in Italy, with around 10 million inhabitants, which is close to 17% of Italy’s population.

The Italy air conditioner market growth is anticipated to emanate predominantly from the southern regions of the country. As per the World Bank, southern states are more likely to experience higher temperatures, as was also seen in July of 2023 as the country was grasped by worsening heat waves and people sought refuge in public places like malls and supermarkets with air conditioning.

Other populous regions in the county are Lazio and Veneto with a population of roughly 5.7 million and 4.8 million inhabitants respectively.

Veneto is in north-eastern Italy and Lazio lies on the central peninsula, their combined population comprises roughly 18% of the Italian population and could become a lucrative market for the Italy air conditioner market growth.

Key Highlights of the Report