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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Europe HVAC Market Size

The Europe HVAC market is projected to grow at a CAGR of 5.6% between 2025 and 2034. 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.

Europe HVAC Market Outlook

  • The use of HVAC systems in residential settings is expected to significantly surge in the forecast period.
  • 50% of the total energy consumption in the EU is utilised for heating and cooling purposes.
  • Germany is expected to witness a sustained growth in the demand for new HVAC systems.

Europe HVAC Market Growth

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 HVAC 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 Industry Segmentation

Europe HVAC Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Equipment

  • Heating
    • Heat Pumps
    • Furnaces
    • Unitary Heaters
  • Ventilation
    • Air-Handling Units
    • Air Filters and Purifiers
    • Ventilation Fans
    • Dehumidifiers and Humidifiers
    • Others
  • Cooling
    • Unitary Air Conditioners
    • VRF Systems
    • Chillers
    • Coolers
    • Cooling Towers
    • Others

Market Breakup by Implementation Type

  • New Constructions
  • Retrofits

Market Breakup by End Use

  • Residential
  • Commercial
  • Industrial

Market Breakup by Country

  • Germany
  • United Kingdom
  • France
  • Italy
  • Others

Europe HVAC Market Share

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.

Leading Companies in the Europe HVAC Market

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.

  • 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
  • BDR Thermea Group B.V.
  • Others

Major market players are designing energy-efficient HVAC systems, which enjoy high consumer demand.

Read Our Others HVAC Market Regional Reports:

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Chile HVAC Market

France HVAC Market

Middle East and Africa HVAC Market

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Equipment
  • Implementation Type
  • End Use
  • Region
Breakup by Equipment
  • Heating
  • Ventilation
  • Cooling
Breakup by Implementation Type
  • New Constructions
  • Retrofits
Breakup by End Use
  • Residential
  • Commercial
  • Industrial
Breakup by Region
  • Germany
  • United Kingdom
  • France
  • Italy
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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
  • BDR Thermea Group B.V.
  • Others

*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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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 5.6% between 2025 and 2034.

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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