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Europe HVAC Market

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 Market

 

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:

  • 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.

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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