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
Page Number	250
Market Dynamics	Rising Construction Industry Airport Modernization Growing VRF Systems
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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