The HVAC market in Europe is strong in Western Europe, where investment in infrastructure development is high.
According to the latest Arizton's market research report, the HVAC market in Europe market size to cross USD 78 billion by 2025, growing at a CAGR of over 6% during the forecast period.
HVAC Market in Europe Market Growth
The consumption of electricity across countries in Europe has increased, mostly due to the rapid growth in AC units in residential and commercial spaces. The HVAC market in Europe is highly dependent on the construction industry, be it residential or commercial for its revenue through new installations. The European HVAC market is strong in Western Europe, where investment in infrastructure development is high. Although training in HVAC technical skills has increased significantly across European countries over recent years between 2015-2019, majority of HVAC companies still face difficulties in finding qualified people to undertake certain crucial tasks in HVAC equipment market.
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Modernization of Airports
Airports are actively working on modernization and pumping heavy investment into the mega airport modernization projects to improve the entire infrastructure and services. The growth of low-cost airlines across Europe and globally has driven air traffic and led to a large number of air travelers, necessitating the requirement of the bigger terminal, new airports, and modernization. Airport operators seeking to have the passenger spends most of their time within the airports to generate more revenue per passenger (non-aircraft income). This is expected to boost the requirement of bigger and better HVAC facilities at the airport to cater to a larger crowd, which in turn, is expected to boost the growth of the HVAC market in Europe.
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- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by equipment, application, and geography
- Competitive Landscape – 27 Key Company Profiles and 17 Other Prominent Vendor
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HVAC Market in Europe – Geography Analysis
Several countries of northern and central Europe experience harsh winters throughout the year. The changing weather conditions and poor maintenance of air quality are major factors that determine the consumption of HVAC equipment in European countries. The increasing construction projects, adoption of the latest building technologies are the major growth enablers in the CEE. Trade centers, office spaces, and commercial buildings have increased the demand for HVAC market in Europe. In Europe, the HVAC running time is very high and the demand for energy-efficient equipment is high with very low life cycle costs. The demand in the residential is also high and on par with the commercial sector demand.
The HVAC market in Europe is characterized by the presence of many market participants in each of the countries and each of the equipment categories. The need for efficient HVAC has increased in Europe largely driven by EU directions, objectives, and targets. With technological upheaval, the industry has seen an influx of more affordable systems. Also, the players in the HVAC market in Europe with advanced technology and meeting the standards set from an ecological perspective have a competitive edge over other vendors. Some of the new entrants are expected to utilize the newer smart building management solution to provide enhanced services in the industry, heating up the competition in the industry.
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