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Europe HVAC Market Size, Share, Trends, Growth, Analysis: By Equipment: Heating, Ventilation, Cooling; By Implementation Type: New Constructions, Retrofits; By End Use: Residential, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Europe HVAC Market Size
The Europe HVAC market is projected to grow at a CAGR of 5.6% between 2024 and 2032. 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 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 2024-2032 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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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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*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global HVAC Market Overview
8.1 Key Industry Highlights
8.2 Global HVAC Historical Market (2018-2023)
8.3 Global HVAC Market Forecast (2024-2032)
8.4 Global HVAC Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe HVAC Market Overview
9.1 Key Industry Highlights
9.2 Europe HVAC Historical Market (2018-2023)
9.3 Europe HVAC Market Forecast (2024-2032)
10 Europe HVAC Market by Equipment
10.1 Heating
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Heat Pumps
10.1.3.2 Furnaces
10.1.3.3 Unitary Heaters
10.2 Ventilation
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Market by Type
10.2.3.1 Air-Handling Units
10.2.3.2 Air Filters and Purifiers
10.2.3.3 Ventilation Fans
10.2.3.4 Dehumidifiers and Humidifiers
10.2.3.5 Others
10.3 Cooling
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.3.3 Breakup by Type
10.3.3.1 Unitary Air Conditioners
10.3.3.2 VRF Systems
10.3.3.3 Chillers
10.3.3.4 Coolers
10.3.3.5 Cooling Towers
10.3.3.6 Others
11 Europe HVAC Market by Implementation Type
11.1 New Constructions
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Retrofits
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Europe HVAC Market by End Use
12.1 Residential
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Commercial
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Industrial
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Europe HVAC Market by Country
13.1 Germany
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Kingdom
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 France
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Italy
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 8415, 841861)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Robert Bosch GmbH
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Mitsubishi Electric Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Alfa Laval AB
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Daikin Industries Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Lennox International Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Carrier Global Corp.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Ariston Holding N.V.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Danfoss A/S
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Vaillant GmbH
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 BDR Thermea Group B.V.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global HVAC Market: Key Industry Highlights, 2018 and 2032
2. Europe HVAC Market: Key Industry Highlights, 2018 and 2032
3. Europe HVAC Historical Market: Breakup by Equipment (USD Million), 2018-2023
4. Europe HVAC Market Forecast: Breakup by Equipment (USD Million), 2024-2032
5. Europe HVAC Historical Market: Breakup by Implementation Type (USD Million), 2018-2023
6. Europe HVAC Market Forecast: Breakup by Implementation Type (USD Million), 2024-2032
7. Europe HVAC Historical Market: Breakup by End Use (USD Million), 2018-2023
8. Europe HVAC Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. Europe HVAC Historical Market: Breakup by Country (USD Million), 2018-2023
10. Europe HVAC Market Forecast: Breakup by Country (USD Million), 2024-2032
11. Major Exporting Countries by Value
12. Major Importing Countries by Value
13. Major Exporting Countries by Volume
14. Major Importing Countries by Volume
15. Europe HVAC Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5.6% between 2024 and 2032.
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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