The Europe HVAC market was valued at USD 47.45 Billion in 2025. The industry is expected to grow at a CAGR of 5.60% during the forecast period of 2026-2035 to attain a valuation of USD 81.82 Billion by 2035.
Base Year
Historical Period
Forecast Period
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.
Compound Annual Growth Rate
5.6%
Value in USD Billion
2026-2035
*this image is indicative*
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 Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Equipment
Market Breakup by Implementation Type
Market Breakup by End Use
Market Breakup by Country
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.
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.
Major market players are designing energy-efficient HVAC systems, which enjoy high consumer demand.
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The market is projected to grow at a CAGR of 5.60% between 2026 and 2035.
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.
In 2025, the market attained a value of nearly USD 47.45 Billion.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach about USD 81.82 Billion by 2035.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Equipment |
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| Breakup by Implementation Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
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