THE EUROPE HVAC MARKET SIZE WAS VALUED AT USD 61.26 BILLION IN 2022 AND IS EXPECTED TO REACH USD 86.49 BILLION BY 2028, GROWING AT A CAGR OF 5.92%.

The Europe HVAC Market Size, Share, & Trends Analysis Report by

  • Heating: Heat Pump, Boiler Units, Furnaces, and Others
  • Ventilation: Air Handling Units, Air filters, Humidifiers & Dehumidifiers, Fan Coil Units, and Others
  • Air Conditioning: RAC, CAC, Chillers, Heat Exchangers, Others
  • Application: Residential and Commercial (Airports &Public, Office Spaces, Hospitality, Hospitals, Industrial & Others)
  • Geography: Western Europe (UK, Germany, France, Italy, Netherlands), Nordic (Norway, Denmark, Sweden, Others), and Central & Eastern Europe (Russia, Poland & Austria, Other CEE Countries)

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023–2028

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250 Pages

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81 Tables

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86 Charts

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3 Regions

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12 Countries

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43 Companies

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5 Market Segment

EUROPE HVAC MARKET REPORT SCOPE

Report Attribute 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 Heating, Ventilation, Air Conditioning, Application, Geography
Geographic Analysis Western Europe, Nordic, and Central & Eastern Europe
Countries Covered UK, Germany, France, Italy, Netherlands, Norway, Denmark, Sweden, Other Countries in Nordic, Russia, Poland & Austria, and Other CEE Countries
KEY VENDORS Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, and Mitsubishi Electric

The Europe HVAC market was valued at USD 61.26 billion in 2022 and is expected to reach USD 86.49 billion by 2028, growing at a CAGR of 5.92% from 2022-2028. The market is undergoing tremendous modifications due to the increasing integration of IoT technology with HVAC products, making them more innovative and accessible. The emphasis on connecting several sensors within building ecosystems, including HVAC, has grown for achieving energy efficiency.

The growth of infrastructural construction is set to speed up significantly post-2021. These infrastructural projects in Europe are estimated to reach a total investment of about USD 14.8 trillion, expected to be completed by 2040, creating a massive demand for HVAC at these locations in Europe, further propelling the growth of the Europe HVAC market. In 2022, European countries witnessed drastic climate changes throughout the year. Rising temperatures and heat waves have increased HVAC systems in commercial and residential buildings to control indoor climate conditions. Hence such factors propel the sales of the HVAC systems in the forecast period.

Further, because of the highly competitive industry, R&D investments in the Europe HVAC market are limited and have substantial investments, mainly from prominent vendors. Moreover, the short time-to-market and narrow acceptance of new technologies add to the challenges for HVAC vendors. R&D investments are primarily on cost reduction of the production process and improvement of the existing product technology for value addition instead of developing new products.

MARKET TRENDS & DRIVERS

Replacement of Existing Equipment with Energy Efficient Product
In 2020, there was the steepest decline in the commercial sector due to the hard-hit hotel & motel industry and sports & convention centers. The commercial sector has been witnessing constant growth since 2021 with the reopening of the economy. Energy-efficient HVAC technologies for residential and commercial buildings have the potential to provide environmental and economic benefits in the Europe HVAC market. Optimizing energy-efficient HVAC technologies and proper installation planning helps to reach energy-saving potential by up to 40%. Therefore, replacing existing equipment with energy-efficient HVAC technologies will boost the growth of HAVC systems in the upcoming year.

Growing VRF Systems
VRF air conditioners are one of the fastest-growing multi-split air conditioners. Variable Refrigerant Flow (VRF) HVAC systems consist of outdoor units connected to various indoor units via refrigerant piping to give cooling and heating to individual zones. VRF system installations are increasing in European countries, with urban areas being the major demand generators, especially the commercial sector.

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.

SEGMENTATION INSIGHTS

INSIGHTS BY EQUIPMENT
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 air conditioning industry is characterized by the presence of many domestic and multi-national vendors, and the industry is seasonal in nature and characterized by modern technology. The CAC and RAC constitute a significant part of air conditioning. The Europe HVAC market in air conditioning was valued at USD 22.66 billion in 2022. France, Germany, Italy, the UK, and Spain are Europe's most prominent demand generators in the category and are expected to witness growth during the forecast period.

INSIGHTS BY APPLICATION
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.

The commercial sector involves the use of HVAC for larger spaces. The Europe HVAC market by commercial sector was valued at USD 25.12 billion in 2022. The commercial sector affordability is high and is mainly driven by higher lifecycle costs and energy efficiency. The demand for newly constructed buildings is expected to take a hit, as the COVID-19 spread has adversely impacted the project timelines.

REGIONAL INSIGHTS

Several countries in Northern and Central Europe have been filled with harsh cold weather for almost all the year. Changing weather conditions and poor air quality maintenance are significant factors in the growth of the Europe HVAC market. The Western Europe region held the most important of Europe’s HVAC market share and was valued at US 34.26 billion in 2022. From a demand perspective, air conditioning systems lead the industry in Western Europe as the temperature rise in urban cities because of pollution, urbanization, and other similar factors.

The HVAC industry in Central & Eastern Europe was valued at USD 8.65 billion in 2022; the region’s industry is driven by both heating and air conditioning systems. The installation is becoming very common in CEE countries. The new HVAC technologies are being adopted as they are energy efficient and eco-friendly. The air or water heat pumps have shown impressive growth as traditional boiler units in the CEE countries. The market characteristics vary across CEE, and the demand for the equipment changes accordingly. The growing middle-class purchasing power and private investments in the construction sector are the major driving factors in the HVAC industry in Central & Eastern Europe.

COMPETITIVE LANDSCAPE

The HVAC industry, prior to the outbreak of COVID-19, was undergoing a transition, mainly on three fronts – regulations, technological upheaval, and the construction industry rebound in many countries. Post the COVID-19 outbreak, the industry is witnessing financial turmoil. The need for efficient HVAC has increased in the region, primarily driven by EU directions, objectives, and targets. The presence of many market participants in each country and equipment category characterizes the Europe HVAC market. The industry is a beneficiary of the government's large incentives to the end-users in tune with government objectives of meeting carbon emission targets and other climate change control measures.

One of the key players in the Europe HVAC market, Systemair’s ventilation products and systems are marketed under brands such as Frico, Fantech, and Menerga. Menerga is one of the leading brands in the region for air handling units in the segment comprising swimming pools, precision ventilation, and industrial applications. Germany is the largest European industry for Menerga’s products, and Frico offers airborne heating and air curtains in the region. It provides solutions for the indoor climate in residential and commercial sectors. Further, the Europe HVAC market is highly fragmented, and high competition is witnessed in the region due to regional, national, and local players. Therefore, Johnson Controls focuses on developing effective designs of HVAC systems in the residential and commercial sectors at effective price ranges to have a strong foothold in the industry.

Frequently Asked Questions

How big is the Europe HVAC market?

The Europe HVAC market size crossed USD 61.26 billion in 2022 and is expected to reach USD 86.49 billion by 2028.

What is the growth rate of the Europe HVAC market?

The Europe HVAC market share will grow at a CAGR of 5.92% from 2022-2028.

What are the major factors driving the growth of the Europe HVAC market?

The significant factors driving the Europe HVAC market growth are the 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.

Who are the key players in the Europe HVAC market?

The key players in the Europe HVAC market are Systemair, Johnson Controls, Zehnder, Ostberg, Aldes, Bosch, Daikin, Samsung, and Mitsubishi Electric.

What is the growth rate of the UK HVAC market during the forecast period?

The UK HVAC market is expected to grow at the highest CAGR of over 7.7% from 2023-2028. The renewable heat incentive is one of the major initiatives of the HVAC market in the UK government that are expected to drive demand for new, energy-efficient HVAC equipment during the projected period.

What is the market size of the Residential Europe HVAC market?

Europe's residential sector HVAC market was valued at USD 36.13 billion in 2022.

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The Europe HVAC market was valued at USD 61.26 billion in 2022 and is expected to reach USD 86.49 billion by 2028.

The following factors are likely to contribute to the growth of the Europe HVAC market during the forecast period:

  • Rising Construction Industry
  • Airport Modernization
  • Growing VRF Systems

Base Year: 2022

Forecast Year: 2023-2028

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.

Key Company Profiles

  • Systemair
    • Business Overview
    • Product Offerings
    • Key Strengths
    • Key Strategies
    • Key Opportunities
  • Johnson Controls
  • Zehnder
  • Ostberg
  • Aldes
  • Bosch
  • Daikin
  • Samsung
  • Mitsubishi Electric

 Other Prominent Vendors 

  • LG
    • Business Overview
    • Product Offerings
  • 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

Segmentation by

  • Heating
    • Heat Pump
    • Boiler Units
    • Furnaces
    • Others
  • Ventilation
    • Air Handling Units
    • Air filters
    • Humidifiers & Dehumidifiers
    • Fan Coil Units
    • Others
  • Air Conditioning
    • RAC
    • CAC
    • Chillers
    • Heat Exchangers
    • 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

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

20.2.1 BUSINESS OVERVIEW

20.2.2 PRODUCT OFFERINGS

20.2.3 KEY STRATEGIES

20.2.4 KEY STRENGTHS

20.2.5 KEY OPPORTUNITIES

20.3 ZEHNDER

20.3.1 BUSINESS OVERVIEW

20.3.2 PRODUCT OFFERINGS

20.3.3 KEY STRATEGIES

20.3.4 KEY STRENGTHS

20.3.5 KEY OPPORTUNITIES

20.4 OSTBERG

20.4.1 BUSINESS OVERVIEW

20.4.2 PRODUCT OFFERINGS

20.4.3 KEY STRATEGIES

20.4.4 KEY STRENGTHS

20.4.5 KEY OPPORTUNITIES

20.5 ALDES

20.5.1 BUSINESS OVERVIEW

20.5.2 PRODUCT OFFERINGS

20.5.3 KEY STRATEGIES

20.5.4 KEY STRENGTHS

20.5.5 KEY OPPORTUNITIES

20.6 BOSCH

20.6.1 BUSINESS OVERVIEW

20.6.2 PRODUCT OFFERINGS

20.6.3 KEY STRATEGIES

20.6.4 KEY STRENGTHS

20.6.5 KEY OPPORTUNITIES

20.7 DAIKIN

20.7.1 BUSINESS OVERVIEW

20.7.2 PRODUCT OFFERINGS

20.7.3 KEY STRATEGIES

20.7.4 EY STRENGTHS

20.7.5 KEY OPPORTUNITIES

20.8 SAMSUNG

20.8.1 BUSINESS OVERVIEW

20.8.2 PRODUCT OFFERINGS

20.8.3 KEY STRATEGIES

20.8.4 KEY STRENGTHS

20.8.5 KEY OPPORTUNITIES

20.9 MITSUBISHI ELECTRIC

20.9.1 BUSINESS OVERVIEW

20.9.2 PRODUCT OFFERINGS

20.9.3 KEY STRATEGIES

20.9.4 KEY STRENGTHS

20.9.5 KEY OPPORTUNITIES

21 OTHER PROMINENT VENDORS

21.1 LG

21.1.1 BUSINESS OVERVIEW

21.1.2 PRODUCT OFFERINGS

21.2 PANASONIC

21.2.1 BUSINESS OVERVIEW

21.2.2 PRODUCT OFFERINGS

21.3 CARRIER

21.3.1 BUSINESS OVERVIEW

21.3.2 PRODUCT OFFERINGS

21.4 MIDEA

21.4.1 BUSINESS OVERVIEW

21.4.2 PRODUCT OFFERINGS

21.5 REGAL

21.5.1 BUSINESS OVERVIEW

21.5.2 PRODUCT OFFERINGS

21.6 RAYTHEON TECHNOLOGIES

21.6.1 BUSINESS OVERVIEW

21.6.2 PRODUCT OFFERINGS

21.7 HONEYWELL

21.7.1 BUSINESS OVERVIEW

21.7.2 PRODUCT OFFERINGS

21.8 FLAKT GROUP

21.8.1 BUSINESS OVERVIEW

21.8.2 PRODUCT OFFERINGS

21.9 BEIJER REF

21.9.1 BUSINESS OVERVIEW

21.9.2 PRODUCT OFFERINGS

21.10 FLEXIT

21.10.1 BUSINESS OVERVIEW

21.10.2 PRODUCT OFFERINGS

21.11 GRUNDFOS

21.11.1 BUSINESS OVERVIEW

21.11.2 PRODUCT OFFERINGS

21.12 SWEGON

21.12.1 BUSINESS OVERVIEW

21.12.2 PRODUCT OFFERINGS

21.13 VTS

21.13.1 BUSINESS OVERVIEW

21.13.2 PRODUCT OFFERINGS

21.14 NUAIRE

21.14.1 BUSINESS OVERVIEW

21.14.2 PRODUCT OFFERINGS

21.15 NORTEK

21.15.1 BUSINESS OVERVIEW

21.15.2 PRODUCT OFFERINGS

21.16 ALFA LAVAL

21.16.1 BUSINESS OVERVIEW

21.16.2 PRODUCT OFFERINGS

21.17 HITACHI

21.17.1 BUSINESS OVERVIEW

21.17.2 PRODUCT OFFERINGS

21.18 LU-VE

21.18.1 BUSINESS OVERVIEW

21.18.2 PRODUCT OFFERINGS

21.19 VENT-AXIA

21.19.1 BUSINESS OVERVIEW

21.19.2 PRODUCT OFFERINGS

21.20 ROSENBERG

21.20.1 BUSINESS OVERVIEW

21.20.2 PRODUCT OFFERINGS

21.21 S & P

21.21.1 BUSINESS OVERVIEW

21.21.2 PRODUCT OFFERINGS

21.22 WOLF

21.22.1 BUSINESS OVERVIEW

21.22.2 PRODUCT OFFERINGS

21.23 CIAT

21.23.1 BUSINESS OVERVIEW

21.23.2 PRODUCT OFFERINGS

21.24 AL-KO

21.24.1 BUSINESS OVERVIEW

21.24.2 PRODUCT OFFERINGS

21.25 DYNAIR

21.25.1 BUSINESS OVERVIEW

21.25.2 PRODUCT OFFERINGS

21.26 DANFOSS

21.26.1 BUSINESS OVERVIEW

21.26.2 PRODUCT OFFERINGS

21.27 LENNOX

21.27.1 BUSINESS OVERVIEW

21.27.2 PRODUCT OFFERINGS

21.28 BACKER SPRINGFIELD

21.28.1 BUSINESS OVERVIEW

21.28.2 PRODUCT OFFERINGS

21.29 DUNHAM BUSH

21.29.1 BUSINESS OVERVIEW

21.29.2 PRODUCT OFFERINGS

21.30 TCL

21.30.1 BUSINESS OVERVIEW

21.30.2 PRODUCT OFFERINGS

21.31 TROX

21.31.1 BUSINESS OVERVIEW

21.31.2 PRODUCT OFFERINGS

21.32 VAILLANT GROUP

21.32.1 BUSINESS OVERVIEW

21.32.2 PRODUCT OFFERINGS

21.33 INGERSOLL RAND

21.33.1 BUSINESS OVERVIEW

21.33.2 PRODUCT OFFERINGS

21.34 CAMFIL

21.34.1 BUSINESS OVERVIEW

21.34.2 PRODUCT OFFERINGS

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

EXHIBIT 1 SEGMENTATION OF THE HVAC MARKET

EXHIBIT 2 MARKET SIZE CALCULATION APPROACH 2022

EXHIBIT 3 CHANGING TRENDS

EXHIBIT 4 QUARTERLY REVIEW OF THE MARKET IN 2022

EXHIBIT 5 STRUCTURED APPROACH TO PROFITABILITY GOAL

EXHIBIT 6 POLICY FRAMEWORK

EXHIBIT 7 VALUE CHAIN ANALYSIS OF THE EUROPE HVAC MARKET

EXHIBIT 8 IMPACT OF REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS

EXHIBIT 9 LIST OF ENVIRONMENTAL POLLUTION CAUSED BY TRADITIONAL HVAC SYSTEM.

EXHIBIT 10 ADVANCED ENERGY-EFFICIENT HVAC TECHNOLOGIES

EXHIBIT 11 IMPACT OF EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS

EXHIBIT 12 SOME MODERN TECHNOLOGY OF IOT FOR HVAC SYSTEMS

EXHIBIT 13 BENEFITS OF SMART IOT SYSTEMS

EXHIBIT 14 IMPACT OF CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM

EXHIBIT 15 TOP EUROPEAN COUNTRIES TEMPERATURE LEVELS BY 2022 (DEGREE CELSIUS)

EXHIBIT 16 IMPACT OF RISING CONSTRUCTION INDUSTRY

EXHIBIT 17 FIVE LARGEST DATA CENTER CONSTRUCTION PROJECTS INITIATED IN Q1 2022

EXHIBIT 18 EUROPE CONSTRUCTION DATA BY 2022

EXHIBIT 19 IMPACT OF AIRPORT MODERNIZATION

EXHIBIT 20 EUROPE COUNTRIES PASSENGER TRAFFIC GROWTH IN MARCH 2022 (YOY)

EXHIBIT 21 IMPACT OF GROWING VRF SYSTEMS

EXHIBIT 22 KEY ADVANTAGES OF VARIABLE REFRIGERANT FLOW SYSTEM:

EXHIBIT 23 KEY HIGHLIGHTS OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEM GROWTH IN 2022

EXHIBIT 24 IMPACT OF LACK OF SKILLED LABOR

EXHIBIT 25 MEASURES TAKEN BY VARIOUS AGENCIES AND ORGANIZATIONS

EXHIBIT 26 IMPACT OF STRINGENCY IN REGULATIONS

EXHIBIT 27 OPERATION THERMOSTAT, A GOVERNMENT PLAN FOR ENERGY CONSUMPTION REDUCTION

EXHIBIT 28 IMPACT OF VULNERABILITY TO COVID-19

EXHIBIT 29 ENERGY CONSUMPTION IN EUROPE, 2020

EXHIBIT 30 HVAC MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 31 FIVE FORCES ANALYSIS 2022

EXHIBIT 32 INCREMENTAL GROWTH BY EQUIPMENT 2022 & 2028

EXHIBIT 33 HEATING EQUIPMENT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 34 HEAT PUMP MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 35 BOILER UNIT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 36 FURNACE MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 37 OTHERS HEATING EQUIPMENT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 38 AIR CONDITIONING MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 39 RAC MARKET IN EUROPE MARKET 2022–2028 ($ BILLION)

EXHIBIT 40 CAC MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 41 CHILLERS MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 42 HEAT EXCHANGER MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 43 OTHERS AIR CONDITIONING MARKET IN EUROPE 2022-2028 ($ BILLION)

EXHIBIT 44 VENTILATION MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 45 AIR HANDLING UNIT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 46 AIR FILTERS UNIT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 47 HUMIDIFIERS & DEHUMIDIFIERS MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 48 FAN COIL UNIT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 49 OTHERS VENTILATION EQUIPMENT MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 50 INCREMENTAL GROWTH BY END-USER 2022 & 2028 (VALUE)

EXHIBIT 51 CONSTRUCTION & HOUSING INSIGHTS 2015–2021

EXHIBIT 52 RESIDENTIAL SECTOR HVAC MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 53 YOY PERCENTAGE CHANGE IN CONSTRUCTION IN NETHERLANDS 2020–2022

EXHIBIT 54 COMMERCIAL SECTOR HVAC MARKET IN EUROPE 2022–2028 ($ BILLION)

EXHIBIT 55 HVAC MARKET IN EUROPE BY OFFICE SPACES 2022–2028 ($ BILLION)

EXHIBIT 56 HVAC MARKET IN EUROPE BY AIRPORTS & PUBLIC UTILITIES 2022–2028 ($ BILLION)

EXHIBIT 57 HVAC MARKET IN EUROPE BY HOSPITALITY 2022–2028 ($ BILLION)

EXHIBIT 58 HVAC MARKET IN EUROPE BY HOSPITALS 2022–2028 ($ BILLION)

EXHIBIT 59 GROWTH RATE OF INDUSTRIAL & OTHERS

EXHIBIT 60 HVAC MARKET IN EUROPE BY INDUSTRIAL AND OTHERS 2022–2028 ($ BILLION)

EXHIBIT 61 INCREMENTAL GROWTH BY GEOGRAPHY 2022 & 2028 (VALUE)

EXHIBIT 62 EUROPEAN COMMISSION: SPRING 2022 ECONOMIC FORECAST

EXHIBIT 63 VALUE OF CONSTRUCTION ACTIVITIES IN EUROPE IN 2020 ($ BILLION)

EXHIBIT 64 INCREMENTAL REVENUE OF KEY WESTERN EU COUNTRIES 2022–2028 ($ BILLION)

EXHIBIT 65 DEMAND FOR AIR CONDITIONERS IN EUROPE IN 2021 (MILLION UNITS)

EXHIBIT 66 HVAC MARKET IN WESTERN EUROPE 2022–2028 ($BILLION)

EXHIBIT 67 INCREMENTAL GROWTH BY GEOGRAPHY 2022 & 2028 (VALUE)

EXHIBIT 68 HVAC MARKET IN GERMANY 2022–2028 ($ BILLION)

EXHIBIT 69 HVAC MARKET IN FRANCE 2022–2028 ($ BILLION)

EXHIBIT 70 HVAC MARKET IN UK 2022–2028 ($ BILLION)

EXHIBIT 71 CONSUMPTION OF HVAC EQUIPMENT IN CONSTRUCTION INDUSTRY IN 2019

EXHIBIT 72 HVAC MARKET IN ITALY 2022–2028 ($ BILLION)

EXHIBIT 73 HVAC MARKET IN NETHERLANDS 2022–2028 ($ BILLION)

EXHIBIT 74 PRODUCTION OF APARTMENTS & SMALL HOUSES IN SWEDEN 2016–2022 ($ BILLION)

EXHIBIT 75 HVAC MARKET IN NORDIC 2022–2028 ($ BILLION)

EXHIBIT 76 INCREMENTAL GROWTH IN NORDIC 2022 & 20228(VALUE)

EXHIBIT 77 HVAC MARKET IN NORWAY 2022–2028 ($ BILLION)

EXHIBIT 78 HVAC MARKET IN DENMARK 2022–2028 ($ BILLION)

EXHIBIT 79 HVAC MARKET IN SWEDEN 2022–2028 ($ BILLION)

EXHIBIT 80 HVAC MARKET IN OTHER COUNTRIES IN NORDIC 2022–2028 ($ BILLION)

EXHIBIT 81 INCREMENTAL REVENUE OF CEE 2022–2028 ($ BILLION)

EXHIBIT 82 HVAC MARKET IN CEE 2022–2028 ($ BILLION)

EXHIBIT 83 INCREMENTAL GROWTH IN CEE 2022 & 2028

EXHIBIT 84 HVAC MARKET IN RUSSIA 2022–2028 ($ BILLION)

EXHIBIT 85 HVAC MARKET IN POLAND & AUSTRIA 2022–2028 ($ BILLION)

EXHIBIT 86 HVAC MARKET IN OTHER CEE COUNTRIES 2022–2028 ($ BILLION)

 

LIST OF TABLES

TABLE 1 KEY CAVEATS

TABLE 2 CURRENCY CONVERSION 2015−2022

TABLE 3 EUROPEAN COUNTRIES HEATING DEGREE DAYS, 2020−2021

TABLE 4 EUROPEAN COUNTRIES COOLING DEGREE DAYS, 2020 - 2021

TABLE 5 HEATING EQUIPMENT MARKET BY GEOGRAPHY 2019−2021 ($ BILLION)

TABLE 6 HEATING EQUIPMENT MARKET BY GEOGRAPHY 2022−2028 ($ BILLION)

TABLE 7 AIR CONDITIONING MARKET BY GEOGRAPHY 2019−2021 ($ BILLION)

TABLE 8 AIR CONDITIONING MARKET BY GEOGRAPHY 2022−2028 ($ BILLION)

TABLE 9 VENTILATION MARKET BY GEOGRAPHY 2019-2021 ($ BILLION)

TABLE 10 VENTILATION MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)

TABLE 11 RESIDENTIAL SECTOR HVAC MARKET GEOGRAPHY 2019−2021 ($ BILLION)

TABLE 12 RESIDENTIAL SECTOR HVAC MARKET BY GEOGRAPHY 2022−2028 ($ BILLION)

TABLE 13 COMMERCIAL SECTOR HVAC MARKET GEOGRAPHY 2019−2021 ($ BILLION)

TABLE 14 COMMERCIAL SECTOR HVAC MARKET BY GEOGRAPHY 2022−2028 ($ BILLION)

TABLE 15 HVAC MARKET BY EQUIPMENT IN WESTERN EUROPE 2019−2021 ($ BILLION)

TABLE 16 HVAC MARKET BY EQUIPMENT IN WESTERN EUROPE 2022−2028 ($BILLION)

TABLE 17 HVAC MARKET BY END-USER IN WESTERN EUROPE 2019−2021 ($ BILLION)

TABLE 18 HVAC MARKET BY END-USER IN WESTERN EUROPE 2022−2028 ($ BILLION)

TABLE 19 HVAC MARKET BY EQUIPMENT IN NORDIC 2019−2022 ($ BILLION)

TABLE 20 HVAC MARKET BY EQUIPMENT IN NORDIC 2022−2028 ($ BILLION)

TABLE 21 HVAC MARKET BY END-USER IN NORDIC 2019−2021 ($ BILLION)

TABLE 22 HVAC MARKET BY END-USER IN NORDIC 2022−2028 ($ BILLION)

TABLE 23 HVAC MARKET BY EQUIPMENT IN CEE 2019−2021 ($ BILLION)

TABLE 24 HVAC MARKET BY EQUIPMENT IN CEE 2022−2028 ($ BILLION)

TABLE 25 HVAC MARKET BY END-USER IN CEE 2019−2021 ($ BILLION)

TABLE 26 HVAC MARKET BY END-USER IN CEE 2022−2028 ($ BILLION)

TABLE 27 SYSTEMAIR: MAJOR PRODUCT OFFERINGS

TABLE 28 JOHNSON CONTROLS: MAJOR PRODUCT OFFERINGS

TABLE 29 ZEHNDER: MAJOR PRODUCT OFFERINGS

TABLE 30 OSTBERG: MAJOR PRODUCT OFFERINGS

TABLE 31 ALDES: MAJOR PRODUCT OFFERINGS

TABLE 32 BOSCH: MAJOR PRODUCT OFFERINGS

TABLE 33 DAIKIN: MAJOR PRODUCT OFFERINGS

TABLE 34 SAMSUNG: MAJOR PRODUCT OFFERINGS

TABLE 35 MITSUBISHI ELECTRIC: MAJOR PRODUCT OFFERINGS

TABLE 36 LG: MAJOR PRODUCT OFFERINGS

TABLE 37 PANASONIC: MAJOR PRODUCT OFFERINGS

TABLE 38 CARRIER: MAJOR PRODUCT OFFERINGS

TABLE 39 MIDEA: MAJOR PRODUCT OFFERINGS

TABLE 40 REGAL: MAJOR PRODUCT OFFERINGS

TABLE 41 RAYTHEON TECHNOLOGIES: MAJOR PRODUCT OFFERINGS

TABLE 42 HONEYWELL: MAJOR PRODUCT OFFERINGS

TABLE 43 FLAKT GROUP: MAJOR PRODUCT OFFERINGS

TABLE 44 BEIJER REF: MAJOR PRODUCT OFFERINGS

TABLE 45 FLEXIT: MAJOR PRODUCT OFFERINGS

TABLE 46 GRUNDFOS: MAJOR PRODUCT OFFERINGS

TABLE 47 SWEGON: MAJOR PRODUCT OFFERINGS

TABLE 48 VTS: MAJOR PRODUCT OFFERINGS

TABLE 49 NUAIRE: MAJOR PRODUCT OFFERINGS

TABLE 50 NORTEK: MAJOR PRODUCT OFFERINGS

TABLE 51 ALFA LAVAL: MAJOR PRODUCT OFFERINGS

TABLE 52 HITACHI: MAJOR PRODUCT OFFERINGS

TABLE 53 LU-VE: MAJOR PRODUCT OFFERINGS

TABLE 54 VENT-AXIA: MAJOR PRODUCT OFFERINGS

TABLE 55 ROSENBERG: MAJOR PRODUCT OFFERINGS

TABLE 56 S & P: MAJOR PRODUCT OFFERINGS

TABLE 57 WOLF: MAJOR PRODUCT OFFERINGS

TABLE 58 CIAT: MAJOR PRODUCT OFFERINGS

TABLE 59 AL-KO: MAJOR PRODUCT OFFERINGS

TABLE 60 DYNAIR: MAJOR PRODUCT OFFERINGS

TABLE 61 DANFOSS: MAJOR PRODUCT OFFERINGS

TABLE 62 LENNOX: MAJOR PRODUCT OFFERINGS

TABLE 63 BACKER SPRINGFIELD: MAJOR PRODUCT OFFERINGS

TABLE 64 DUNHAMBUSH: MAJOR PRODUCT OFFERINGS

TABLE 65 TCL: MAJOR PRODUCT OFFERINGS

TABLE 66 TROX: MAJOR PRODUCT OFFERINGS

TABLE 67 VAILLANT: MAJOR PRODUCT OFFERINGS

TABLE 68 INGERSOLL RAND: MAJOR PRODUCT OFFERINGS

TABLE 69 CAMFIL: MAJOR PRODUCT OFFERINGS

TABLE 70 HVAC MARKET IN EUROPE BY GEOGRAPHY 2022−2028 ($ BILLION)

TABLE 71 HVAC MARKET IN WESTERN EUROPE BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 72 HVAC MARKET IN WESTERN EUROPE BY END-USER 2022−2028 ($ BILLION)

TABLE 73 HVAC MARKET IN NORDIC BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 74 HVAC MARKET IN NORDIC BY END-USER 2022−2028 ($ BILLION)

TABLE 75 HVAC MARKET IN CEE BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 76 HVAC MARKET IN CEE BY END-USER 2022−2028 ($ BILLION)

TABLE 77 HVAC MARKET IN EUROPE BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 78 HVAC MARKET IN EUROPE BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 79 HVAC MARKET IN EUROPE BY EQUIPMENT 2022−2028 ($ BILLION)

TABLE 80 HVAC MARKET IN EUROPE BY END-USER 2022−2028 ($ BILLION)

TABLE 81 HVAC MARKET IN EUROPE BY COMMERCIAL APPLICATION 2022−2028 ($ BILLION)

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