Europe HVAC System Market Forecast to 2030
Europe HVAC System Market Forecast to 2030 – Regional Analysis – by Component (Thermostat, Air Handling Units, Central ACs, Furnace, Heat Pump, Compressor, and Others), Type (Split System, Ductless System, and Packaged System), Implementation (New Installation, and Retrofit), and Application (Residential, Commercial, and Industrial)
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Description
Rise in Demand for Energy-Efficient Solutions Fuel the Europe HVAC System Market
Greenhouse gases are the primary sources of global warming and climate change. These gases absorb the infrared energy and re-emit it back into the space, half of which returns to the Earth as heat, consequently adding to the warmth emanating from the Earth’s surface. Small businesses and large industries emit various carbon compounds, such as carbon dioxide, because of using fossil fuels, which are known as “carbon footprint.” Since energy-efficient solutions emit fewer harmful greenhouse gas emissions into the environment, they can contribute to lowering the carbon footprint and controlling the adverse effects of global warming. To improve the quality-of-life usage of energy-efficient appliances has been growing in recent times. The reason behind the increase in energy-efficient solutions is not only because they save energy but also because they need less maintenance and have lesser replacement costs. These solutions contribute to a positive impact on the environment.
Europe HVAC System Market Overview
Europe consists of several developed economies, such as Germany, France, Italy, the UK, and Russia. Increasing adoption of digitalization across the European region is not only influencing different industries to maximize their capabilities but also experiencing high adoption of advanced solutions across the region. This is helping the HVAC sector to increase profitability by expanding the platforms of distribution. The demand for heating or cooling that is implemented by the HVAC systems is driven by the increasing need in industrial, commercial building spaces, or residential areas. As reported by European Commission, residential and commercial buildings, HVAC systems constitute about 35% of the total energy consumption. For energy consumption, high-efficiency heat pumps can be utilized to reduce or eliminate the use of refrigerants. Hence the demand for such alternatives to reduce GHG emissions is increasing. The increase in new residential areas, increasing average construction expenses, increasing government expenses on sustainable building development, growth in disposable income and rapid urbanization across several European economies are major factors driving the adoption of HVAC systems in Europe. The regulations formed by the governments in Europe in accordance with energy efficiency and the preference for eco-friendly refrigerants in regions such as the United Kingdom, Germany, and France.
Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Europe HVAC System Market Segmentation
The Europe HVAC system market is segmented based on component, type, implementation, application, and country. Based on component, the Europe HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held the largest market share in 2022.
Based on type, the Europe HVAC system market is segmented into split system, ductless system, and packaged system. The split system segment held the largest market share in 2022.
Based on application, the Europe HVAC system market is segmented into residential, commercial, and industrial. The residential segment held the largest market share in 2022.
Based on implementation, the Europe HVAC system market is segmented into new installation and retrofit. The new installation segment held a larger market share in 2022.
Based on country, the Europe HVAC system market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe HVAC System market in 2022.
Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc are some of the leading companies operating in the Europe HVAC system market.
Summary Info
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According to The Insght Partners’ research, the Europe HVAC system market was valued at US$ 50,772.07 in 2022 and is expected to reach US$ 1,25,024.86 million by 2030, registering a CAGR of 11.9% from 2022 to 2030. Growth in government regulatory policies for energy saving and conservation are the critical factors attributed to the Europe HVAC system market expansion.
Governments across the world are using a variety of strategies to encourage energy saving and conservation. They are including sizable line items for energy costs in their yearly operational budgets. In addition, they are saving a lot of money on energy costs incurred in public buildings and are exhibiting energy and environmental leadership by investing in energy efficiency. Other than the increase in the efficiency of both new and existing facilities, many governments are including energy efficiency standards in their decisions of product purchases. The main energy consumers in municipal level operations are often the water and wastewater treatment facilities. High-quality HVAC systems can be employed at water and wastewater facilities to decrease energy costs and greenhouse gas emissions. Through energy data management and evaluation, energy efficiency standards for public buildings, uptake of retrofit programs for already-existing public buildings, acquisition of energy-efficient appliances and equipment, and establishment of energy-efficient operations and maintenance procedures, state and local governments are promoting energy efficiency programs and policies for public facilities, equipment, and government operations.
On the contrary, lack of skilled technical workforce hurdles the growth Europe HVAC system market.
Based on component, the Europe HVAC system market is segmented into thermostat, air handling units, central ACs, furnace, heat pump, compressor, and others. The central ACs segment held 28.8% market share in 2022, amassing US$ 14,639.77 million. It is projected to garner US$ 38,918.52 million by 2030 to expand at 13.0% CAGR during 2022-2030.
Based on type, the Europe HVAC system market is categorized into split system, ductless system, and packaged system. the split system segment held 44.7% share of the Europe HVAC system market in 2022, amassing US$ 22,692.75 million. It is projected to garner US$ 57,094.47 million by 2030 to expand at 12.2% CAGR during 2022–2030.
Based on implementation, the Europe HVAC system market is bifurcated into new installation and retrofit. the new installation segment held 66.5% share of Europe HVAC system market in 2022, amassing US$ 33,769.79 million. It is projected to garner US$ 76,863.70 million by 2030 to expand at 10.8% CAGR during 2022–2030.
Based on application, the Europe HVAC system market is segmented into residential, commercial, and industrial. The residential segment held 45.2% share of Europe HVAC system market in 2022, amassing US$ 22,966.79 million. It is projected to garner US$ 55,605.39 million by 2030 to expand at 11.7% CAGR during 2022–2030.
Based on country, the Europe HVAC system market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. Germany segment held 32.6% share of Europe HVAC system market in 2022, amassing US$ 16,567.62 million. It is projected to garner US$ 37,148.05 million by 2030 to expand at 10.6% CAGR during 2022–2030.
Key players operating in the Europe HVAC system market are Mitsubishi Electric Corp, Hitachi Ltd, Daikin Industries Ltd, Emerson Electric Co, Honeywell International Inc, LG Electric Inc, Carrier Global Corp, and Johnson Controls Inc.
In Jul 2022, DAIKIN announced the expansion of its new heat pump heating factory in Poland. The company announced an investment of around US$$ 300 million toward the factory. The new production base will start operations in July 2024 to meet the rapidly increasing demand for heat pumps in Europe.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe HVAC system market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Europe HVAC system, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe HVAC system market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Research Team Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe HVAC System Market Landscape
4.1 Market Overview
4.1.1 Europe
4.2 Ecosystem Analysis
4.3 Expert Opinions
5. Europe HVAC System Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in Demand for Energy-efficient Solutions
5.1.2 Growth in Government Regulatory Policies for Energy Saving and Conservation
5.1.3 Development of Smart HVAC System Promoting Demand
5.2 Key Market Restraints
5.2.1 Lack of Skilled Technical Workforce
5.2.2 Higher Upfront Cost of Installation, Repair, and Maintenance of HVAC System
5.3 Key Market Opportunities
5.3.1 Need for Replacement of Traditional HVAC Systems with Newer HVAC Systems
5.3.2 Growing Adoption of Low Global Warming Potential Refrigerant
5.4 Future Trends
5.4.1 Integration of IoT into HVAC Systems
5.5 Impact Analysis of Drivers and Restraints
6. HVAC System Market –Europe Market Analysis
6.1 Europe HVAC System Market Revenue Forecast and Analysis
7. Europe HVAC System Market Analysis – By Component
7.1 Overview
7.2 Europe HVAC System Market, by Component (2022 and 2030)
7.3 Thermostat
7.3.1 Overview
7.3.2 Thermostat: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Air Handling Units
7.4.1 Overview
7.4.2 Air Handling Units: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Central ACs
7.5.1 Overview
7.5.2 Central ACs: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Furnace
7.6.1 Overview
7.6.2 Furnace: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.1 Heat Pump
7.1.1 Overview
7.1.2 Heat Pump: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Compressor
7.2.1 Overview
7.2.2 Compressor: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Others
7.3.1 Overview
7.3.2 Others: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
8. Europe HVAC System Market Analysis – By Type
8.1 Overview
8.2 Europe HVAC System Market, By Type (2022 and 2030)
8.3 Split System
8.3.1 Overview
8.3.2 Split System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
8.4 Ductless System
8.4.1 Overview
8.4.2 Ductless System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
8.5 Packaged System
8.5.1 Overview
8.5.2 Packaged System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
9. Europe HVAC system market Analysis – By Implementation
9.1 Overview
9.2 Europe HVAC System Market, By Implementation (2022 and 2030)
9.3 New Installation
9.3.1 Overview
9.3.2 New Installation: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
9.4 Retrofit
9.4.1 Overview
9.4.2 Retrofit: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10. Global Europe HVAC System Market Analysis – By Application
10.1 Overview
10.2 Europe HVAC System Market, By Application (2022 and 2030)
10.3 Residential
10.3.1 Overview
10.3.2 Residential: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10.4 Commercial
10.4.1 Overview
10.4.2 Commercial: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
10.5 Industrial
10.5.1 Overview
10.5.2 Industrial: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
11. Europe: Europe HVAC System Market Country Analysis
11.1.1 Overview
11.1.2 Europe HVAC System Market Breakdown, by Country
11.1.2.1 Germany Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.1.1 Germany Europe HVAC System Market Breakdown, by Application
11.1.2.1.2 Germany Europe HVAC System Market Breakdown, by Type
11.1.2.1.3 Germany Europe HVAC System Market Breakdown, by Component
11.1.2.1.4 Germany Europe HVAC System Market Breakdown, by Implementation
11.1.2.2 France Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.2.1 France Europe HVAC System Market Breakdown, by Application
11.1.2.2.2 France Europe HVAC System Market Breakdown, by Type
11.1.2.2.3 France Europe HVAC System Market Breakdown, by Component
11.1.2.2.4 France Europe HVAC System Market Breakdown, by Implementation
11.1.2.3 Italy Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.3.1 Italy Europe HVAC System Market Breakdown, by Application
11.1.2.3.2 Italy Europe HVAC System Market Breakdown, by Type
11.1.2.3.3 Italy Europe HVAC System Market Breakdown, by Component
11.1.2.3.4 Italy Europe HVAC System Market Breakdown, by Implementation
11.1.2.4 UK Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.4.1 UK Europe HVAC System Market Breakdown, by Application
11.1.2.4.2 UK Europe HVAC System Market Breakdown, by Type
11.1.2.4.3 UK Europe HVAC System Market Breakdown, by Component
11.1.2.4.4 UK Europe HVAC System Market Breakdown, by Implementation
11.1.2.5 Russia Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.5.1 Russia Europe HVAC System Market Breakdown, by Application
11.1.2.5.2 Russia Europe HVAC System Market Breakdown, by Type
11.1.2.5.3 Russia Europe HVAC System Market Breakdown, by Component
11.1.2.5.4 Russia Europe HVAC System Market Breakdown, by Implementation
11.1.2.6 Rest of Europe HVAC System Market, Revenue and Forecast to 2030
11.1.2.6.1 Rest of Europe HVAC System Market Breakdown, by Application
11.1.2.6.2 Rest of Europe HVAC System Market Breakdown, by Type
11.1.2.6.3 Rest of Europe HVAC System Market Breakdown, by Component
11.1.2.6.4 Rest of Europe HVAC System Market Breakdown, by Implementation
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 New Development
13. Company Profiles
13.1 Mitsubishi Electric Corp
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hitachi Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Daikin Industries Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Emerson Electric Co
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Honeywell International Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 LG Electronics Inc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Carrier Global Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Johnson Controls Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About Research Team
14.2 Word Index
LIST OF TABLES
Table 1. Europe HVAC system market, Revenue and Forecast, 2020–2030 (US$ Million)
Table 2. Germany Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 3. Germany Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 4. Germany Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 5. Germany Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 6. France Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 7. France Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 8. France Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 9. France Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 10. Italy Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 11. Italy Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 12. Italy Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 13. Italy Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 14. UK Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 15. UK Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 16. UK Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 17. UK Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 18. Russia Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 19. Russia Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 20. Russia Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 21. Russia Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 22. Rest of Europe HVAC System Market, Revenue and Forecast to 2030 – by Application (US$ million)
Table 23. Rest of Europe HVAC System Market, Revenue and Forecast to 2030 – by Type (US$ million)
Table 24. Rest of Europe HVAC System Market, Revenue and Forecast to 2030 – by Component (US$ million)
Table 25. Rest of Europe HVAC System Market, Revenue and Forecast to 2030 – by Implementation (US$ million)
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe HVAC system market Segmentation
Figure 2. Europe HVAC system market Segmentation – By Country
Figure 3. Europe HVAC system market Overview
Figure 4. Europe HVAC system market, by Component
Figure 5. Europe HVAC system market, by Type
Figure 6. Europe HVAC system market, by Implementation
Figure 7. Europe HVAC system market, by Application
Figure 8. Europe HVAC system market, by Geography
Figure 9. Europe – PEST Analysis
Figure 10. Europe HVAC System Market- Ecosystem Analysis
Figure 11. Europe HVAC System Market: Impact Analysis of Drivers and Restraints
Figure 12. Europe HVAC System Market Revenue Forecast and Analysis (US$ Million)
Figure 13. Europe HVAC System Market Revenue Share, by Component (2022 and 2030)
Figure 14. Thermostat: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Air Handling Units: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Central ACs: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Furnace: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Heat Pump: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Compressor: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: Europe HVAC System Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Europe HVAC System Market, By Type (2022 and 2030)
Figure 22. Split System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 23. Ductless System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 24. Packaged System: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 25. Europe HVAC System Market, By Implementation (2022 and 2030)
Figure 26. New Installation: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 27. Retrofit: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 28. Europe HVAC System Market, By Application (2022 and 2030)
Figure 29. Residential: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 30. Commercial: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 31. Industrial: Europe HVAC System Market Revenue and Forecast to 2030 (US$ Million)
Figure 32. Europe HVAC System Market, by Key Country – Revenue (2022) (US$ Million)
Figure 33. Europe HVAC System Market Breakdown, by Country, 2022 & 2030 (%)
Figure 34. Germany Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
Figure 35. France Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
Figure 36. Italy Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
Figure 37. UK Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
Figure 38. Russia Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
Figure 39. Rest of Europe HVAC System Market, Revenue and Forecast to 2030 (US$ million)
The List of Companies – Europe HVAC System Market
o Mitsubishi Electric Corp
o Hitachi Ltd
o Daikin Industries Ltd
o Emerson Electric Co
o Honeywell International Inc
o LG Electric Inc
o Carrier Global Corp
o Johnson Controls Inc
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