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PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1168306

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PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1168306

Europe HVAC Market - Industry Outlook and Forecast 2023-2028

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The Europe HVAC market is expected to grow at a CAGR of 2.64% during 2022-2027.

MARKET OVERVIEW

The market is undergoing tremendous modifications due to the increasing integration of IoT technology with HVAC products, making them more innovative and accessible. The emphasis on connecting several sensors within building ecosystems, including HVAC, has grown for achieving energy efficiency.

The growth of infrastructural construction is set to speed up significantly post-2021. These infrastructural projects in Europe are estimated to reach a total investment of about USD 14.8 trillion, expected to be completed by 2040, creating a massive demand for HVAC at these locations in Europe, further propelling the growth of the Europe HVAC market. In 2022, European countries witnessed drastic climate changes throughout the year. Rising temperatures and heat waves have increased HVAC systems in commercial and residential buildings to control indoor climate conditions. Hence such factors propel the sales of the HVAC systems in the forecast period.

Further, because of the highly competitive industry, R&D investments in the Europe HVAC market are limited and have substantial investments, mainly from prominent vendors. Moreover, the short time-to-market and narrow acceptance of new technologies add to the challenges for HVAC vendors. R&D investments are primarily on cost reduction of the production process and improvement of the existing product technology for value addition instead of developing new products.

MARKET TRENDS & DRIVERS

Replacement of Existing Equipment with Energy Efficient Product

  • In 2020, there was the steepest decline in the commercial sector due to the hard-hit hotel & motel industry and sports & convention centers. The commercial sector has been witnessing constant growth since 2021 with the reopening of the economy. Energy-efficient HVAC technologies for residential and commercial buildings have the potential to provide environmental and economic benefits in the Europe HVAC market. Optimizing energy-efficient HVAC technologies and proper installation planning helps to reach energy-saving potential by up to 40%. Therefore, replacing existing equipment with energy-efficient HVAC technologies will boost the growth of HAVC systems in the upcoming year.

Growing VRF Systems

  • VRF air conditioners are one of the fastest-growing multi-split air conditioners. Variable Refrigerant Flow (VRF) HVAC systems consist of outdoor units connected to various indoor units via refrigerant piping to give cooling and heating to individual zones. VRF system installations are increasing in European countries, with urban areas being the major demand generators, especially the commercial sector.
  • In Germany, centralized air conditioning solutions are growing in demand through chillers and VRF systems. However, in many places, VRF systems are replacing chillers. VRF sales are expected to rise in tune with global trends as they help save operational costs. The UK industry is strongly connected to the business trends of Europe and driven by construction activities in London. Hence, the VRF system will play a vital role in the Europe HVAC market.

SEGMENTATION INSIGHTS

INSIGHTS BY EQUIPMENT

HVAC commonly refers to heating, ventilation, cooling, collective heating, and cooling technologies used at commercial, residential, industrial, and public utility buildings. The Europe HVAC market can be divided into three categories based on functionality: heating, ventilation, and air conditioning. The Europe HVAC market in heating equipment is growing at a CAGR of over 6% during the forecast period. The heating equipment industry is characterized by intense competition, as the same has high traction in the cold climatic conditions of the region. The heating equipment is generally bulky; hence, the industry is characterized by many local/domestic vendors. Moreover, the service and maintenance required for these tools also bring in high revenue.

The air conditioning industry is characterized by the presence of many domestic and multi-national vendors, and the industry is seasonal in nature and characterized by modern technology. The CAC and RAC constitute a significant part of air conditioning. The Europe HVAC market in air conditioning was valued at USD 22.66 billion in 2022. France, Germany, Italy, the UK, and Spain are Europe's most prominent demand generators in the category and are expected to witness growth during the forecast period.

Segmentation by Equipment

  • Heating
    • Heat Pump
    • Boiler Units
    • Furnaces
    • Others
  • Air Conditioning
    • RAC
    • CAC
    • Chillers
    • Heat Exchangers
    • Others
  • Ventilation
    • Air Handling Units
    • Air filters
    • Humidifiers & Dehumidifiers
    • Fan Coil Units
    • Others

INSIGHTS BY APPLICATION

The Europe HVAC market by end-use can be categorized as residential and commercial sectors. The residential sector demand in 2022 is expected to grow due to the construction industry skyrocketing in European countries. The demand for new equipment and replacement is expected to be impacted as consumers seek to cut down on non-essential purchases. Europe HVAC market by residential sector is growing at a CAGR of 5.43% during the forecast period.

The commercial sector involves the use of HVAC for larger spaces. The Europe HVAC market by commercial sector was valued at USD 25.12 billion in 2022. The commercial sector affordability is high and is mainly driven by higher lifecycle costs and energy efficiency. The demand for newly constructed buildings is expected to take a hit, as the COVID-19 spread has adversely impacted the project timelines.

Segmentation by Application

  • Residential
  • Commercial
    • Airports &Public
    • Office Spaces
    • Hospitality
    • Hospitals
    • Industrial & Others

REGIONAL INSIGHTS

Several countries in Northern and Central Europe have been filled with harsh cold weather for almost all the year. Changing weather conditions and poor air quality maintenance are significant factors in the growth of the Europe HVAC market. The Western Europe region held the most important of Europe's HVAC market share and was valued at US 34.26 billion in 2022. From a demand perspective, air conditioning systems lead the industry in Western Europe as the temperature rise in urban cities because of pollution, urbanization, and other similar factors.

The HVAC industry in Central & Eastern Europe was valued at USD 8.65 billion in 2022; the region's industry is driven by both heating and air conditioning systems. The installation is becoming very common in CEE countries. The new HVAC technologies are being adopted as they are energy efficient and eco-friendly. The air or water heat pumps have shown impressive growth as traditional boiler units in the CEE countries. The market characteristics vary across CEE, and the demand for the equipment changes accordingly. The growing middle-class purchasing power and private investments in the construction sector are the major driving factors in the HVAC industry in Central & Eastern Europe.

Segmentation by Geography

  • Western Europe
    • UK
    • Germany
    • France
    • Italy
    • Netherlands
  • Nordic
    • Norway
    • Denmark
    • Sweden
    • Others
  • Central & Eastern Europe
    • Russia
    • Poland & Austria
    • Other CEE Countries

COMPETITIVE LANDSCAPE

The HVAC industry, prior to the outbreak of COVID-19, was undergoing a transition, mainly on three fronts - regulations, technological upheaval, and the construction industry rebound in many countries. Post the COVID-19 outbreak, the industry is witnessing financial turmoil. The need for efficient HVAC has increased in the region, primarily driven by EU directions, objectives, and targets. The presence of many market participants in each country and equipment category characterizes the Europe HVAC market. The industry is a beneficiary of the government's large incentives to the end-users in tune with government objectives of meeting carbon emission targets and other climate change control measures.

One of the key players in the Europe HVAC market, Systemair's ventilation products and systems are marketed under brands such as Frico, Fantech, and Menerga. Menerga is one of the leading brands in the region for air handling units in the segment comprising swimming pools, precision ventilation, and industrial applications. Germany is the largest European industry for Menerga's products, and Frico offers airborne heating and air curtains in the region. It provides solutions for the indoor climate in residential and commercial sectors. Further, the Europe HVAC market is highly fragmented, and high competition is witnessed in the region due to regional, national, and local players. Therefore, Johnson Controls focuses on developing effective designs of HVAC systems in the residential and commercial sectors at effective price ranges to have a strong foothold in the industry.

Key Company Profiles

  • Systemair
  • Johnson Controls
  • Zehnder
  • Ostberg
  • Aldes
  • Bosch
  • Daikin
  • Samsung
  • Mitsubishi Electric

Other Prominent Vendors

  • LG
  • Panasonic
  • Carrier
  • Midea
  • Regal
  • Raytheon Technologies
  • Honeywell
  • Flakt Group
  • Beijer Ref
  • Flexit
  • Grundfos
  • Swegon
  • VTS
  • Nuaire
  • Nortek
  • Alfa Laval
  • Hitachi
  • Lu-Ve
  • Vent-Axia
  • Rosenberg
  • S & P
  • WOLF
  • CIAT
  • AL-KO
  • DynAIR
  • Danfoss
  • Lennox
  • Backer Springfield
  • Dunham-Bush
  • TCL
  • TROX
  • Vaillant Group
  • Ingersoll Rand
  • Camfil

KEY QUESTIONS ANSWERED

  • 1. How big is the Europe HVAC market?
  • 2. What is the growth rate of the Europe HVAC market?
  • 3. What are the major factors driving the growth of the Europe HVAC market?
  • 4. Who are the key players in the Europe HVAC market?
  • 5. What is the growth rate of the UK HVAC market during the forecast period?
  • 6. What is the market size of the Residential Europe HVAC market?
Product Code: ARZ221115

TABLE OF CONTENTS

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

  • 4.1 MARKET DEFINITION
    • 4.1.1 INCLUSIONS
    • 4.1.2 EXCLUSIONS
    • 4.1.3 MARKET ESTIMATION CAVEATS
  • 4.2 BASE YEAR
  • 4.3 SCOPE OF THE STUDY
  • 4.4 MARKET SEGMENTATION
    • 4.4.1 MARKET SEGMENTATION BY EQUIPMENT TYPE
    • 4.4.2 MARKET SEGMENTATION BY HEATING
    • 4.4.3 MARKET SEGMENTATION BY AIR CONDITIONER
    • 4.4.4 MARKET SEGMENTATION BY VENTILATION EQUIPMENT
    • 4.4.5 MARKET SEGMENTATION BY APPLICATION
    • 4.4.6 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

  • 5.1 KEY CAVEATS
  • 5.2 CURRENCY CONVERSION
  • 5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

7 MARKET AT A GLANCE

8 INTRODUCTION

  • 8.1 OVERVIEW
    • 8.1.1 ADVANTAGES OF SMART HVAC SYSTEM
    • 8.1.2 DISADVANTAGES OF SMART HVAC SYSTEM
    • 8.1.3 RISK MANAGEMENT
    • 8.1.4 PROFIT MARGINS
    • 8.1.5 MERGER & ACQUISITIONS AND PRODUCT DEVELOPMENT
    • 8.1.6 ENVIRONMENTALLY FRIENDLY HVAC
    • 8.1.7 RESIDENTIAL CONSTRUCTIONS
    • 8.1.8 NON-RESIDENTIAL CONSTRUCTIONS
  • 8.2 VALUE CHAIN
    • 8.2.1 RAW MATERIAL SUPPLIERS & COMPONENTS
    • 8.2.2 MANUFACTURERS
    • 8.2.3 DEALERS /DISTRIBUTOR
    • 8.2.4 RETAILERS
    • 8.2.5 END-USERS
  • 8.3 IMPACT OF COVID-19

9 MARKET OPPORTUNITY & TRENDS

  • 9.1 REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS
  • 9.2 EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS
  • 9.3 CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM

10 MARKET GROWTH ENABLERS

  • 10.1 RISING CONSTRUCTION INDUSTRY
  • 10.2 AIRPORT MODERNIZATION
  • 10.3 GROWING VRF SYSTEMS

11 MARKET RESTRAINTS

  • 11.1 LACK OF SKILLED LABOR
  • 11.2 STRINGENCY IN REGULATIONS
  • 11.3 VULNERABILITY TO COVID-19

12 MARKET LANDSCAPE

  • 12.1 MARKET OVERVIEW
    • 12.1.1 KEY INSIGHTS
  • 12.2 MARKET SIZE & FORECAST
    • 12.2.1 VALUE
  • 12.3 FIVE FORCES ANALYSIS
    • 12.3.1 THREAT OF NEW ENTRANTS
    • 12.3.2 BARGAINING POWER OF SUPPLIERS
    • 12.3.3 BARGAINING POWER OF BUYERS
    • 12.3.4 THREAT OF SUBSTITUTES
    • 12.3.5 COMPETITIVE RIVALRY

13 EQUIPMENT

  • 13.1 MARKET SNAPSHOT & GROWTH ENGINE
  • 13.2 MARKET OVERVIEW
    • 13.2.1 KEY INSIGHTS
  • 13.3 HEATING
    • 13.3.1 MARKET OVERVIEW
    • 13.3.2 MARKET SIZE & FORECAST
    • 13.3.3 MARKET BY GEOGRAPHY
    • 13.3.4 HEAT PUMP: MARKET SIZE & FORECAST
    • 13.3.5 BOILER UNIT: MARKET SIZE & FORECAST
    • 13.3.6 FURNACE: MARKET SIZE & FORECAST
    • 13.3.7 OTHERS: MARKET SIZE & FORECAST
  • 13.4 AIR CONDITIONING
    • 13.4.1 MARKET OVERVIEW
    • 13.4.2 KEY TAKEAWAYS
    • 13.4.3 MARKET SIZE & FORECAST
    • 13.4.4 MARKET BY GEOGRAPHY
    • 13.4.5 RAC: MARKET SIZE & FORECAST
    • 13.4.6 CAC: MARKET SIZE & FORECAST
    • 13.4.7 CHILLERS: MARKET SIZE & FORECAST
    • 13.4.8 HEAT EXCHANGER: MARKET SIZE & FORECAST (INCLUDES COOLING TOWER)
    • 13.4.9 OTHERS: MARKET SIZE & FORECAST
  • 13.5 VENTILATION
    • 13.5.1 MARKET OVERVIEW
    • 13.5.2 MARKET SIZE & FORECAST
    • 13.5.3 MARKET BY GEOGRAPHY
    • 13.5.4 AIR HANDLING UNITS: MARKET SIZE & FORECAST
    • 13.5.5 AIR FILTERS: MARKET SIZE & FORECAST
    • 13.5.6 HUMIDIFIER & DEHUMIDIFIERS: MARKET SIZE & FORECAST
    • 13.5.7 FAN COIL UNIT: MARKET SIZE & FORECAST
    • 13.5.8 OTHERS: MARKET SIZE & FORECAST

14 END-USER

  • 14.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
  • 14.2 MARKET OVERVIEW
  • 14.3 RESIDENTIAL
    • 14.3.1 MARKET OVERVIEW
    • 14.3.2 MARKET SIZE & FORECAST
    • 14.3.3 MARKET BY GEOGRAPHY
  • 14.4 COMMERCIAL
    • 14.4.1 MARKET OVERVIEW
    • 14.4.2 MARKET SIZE & FORECAST
    • 14.4.3 MARKET BY GEOGRAPHY
    • 14.4.4 OFFICE SPACES: MARKET SIZE & FORECAST
    • 14.4.5 AIRPORT & PUBLIC UTILITIES: MARKET SIZE & FORECAST
    • 14.4.6 HOSPITALITY: MARKET SIZE & FORECAST
    • 14.4.7 HOSPITALS: MARKET SIZE & FORECAST
    • 14.4.8 INDUSTRIAL AND OTHERS: MARKET SIZE & FORECAST

15 GEOGRAPHY

  • 15.1 MARKET SNAPSHOT & GROWTH ENGINE (VALUE)
  • 15.2 GEOGRAPHY OVERVIEW

16 WESTERN EUROPE

  • 16.1 MARKET OVERVIEW
  • 16.2 MARKET SIZE & FORECAST
  • 16.3 EQUIPMENT
    • 16.3.1 MARKET SIZE & FORECAST
  • 16.4 END-USER
    • 16.4.1 MARKET SIZE & FORECAST
  • 16.5 KEY COUNTRIES
    • 16.5.1 GERMANY: MARKET SIZE & FORECAST
    • 16.5.2 FRANCE: MARKET SIZE & FORECAST
    • 16.5.3 UK: MARKET SIZE & FORECAST
    • 16.5.4 ITALY: MARKET SIZE & FORECAST
    • 16.5.5 NETHERLANDS: MARKET SIZE & FORECAST

17 NORDIC

  • 17.1 MARKET OVERVIEW
  • 17.2 MARKET SIZE & FORECAST
  • 17.3 EQUIPMENT
    • 17.3.1 MARKET SIZE & FORECAST
  • 17.4 END-USER
    • 17.4.1 MARKET SIZE & FORECAST
  • 17.5 KEY COUNTRIES
    • 17.5.1 NORWAY: MARKET SIZE & FORECAST
    • 17.5.2 DENMARK: MARKET SIZE & FORECAST
    • 17.5.3 SWEDEN: MARKET SIZE & FORECAST
    • 17.5.4 OTHER COUNTRIES IN NORDIC: MARKET SIZE & FORECAST

18 CENTRAL & EASTERN EUROPE (CEE)

  • 18.1 MARKET OVERVIEW
  • 18.2 MARKET SIZE & FORECAST
  • 18.3 EQUIPMENT
    • 18.3.1 MARKET SIZE & FORECAST
  • 18.4 END-USER
    • 18.4.1 MARKET SIZE & FORECAST
  • 18.5 KEY COUNTRIES
    • 18.5.1 RUSSIA: MARKET SIZE & FORECAST
    • 18.5.2 POLAND & AUSTRIA: MARKET SIZE & FORECAST
    • 18.5.3 OTHER CEE COUNTRIES: MARKET SIZE & FORECAST

19 COMPETITIVE LANDSCAPE

  • 19.1 COMPETITION OVERVIEW

20 KEY COMPANY PROFILES

  • 20.1 SYSTEMAIR
    • 20.1.1 BUSINESS OVERVIEW
    • 20.1.2 PRODUCT OFFERINGS
    • 20.1.3 KEY STRATEGIES
    • 20.1.4 KEY STRENGTHS
    • 20.1.5 KEY OPPORTUNITIES
  • 20.2 JOHNSON CONTROLS
    • 20.2.1 BUSINESS OVERVIEW
    • 20.2.2 PRODUCT OFFERINGS
    • 20.2.3 KEY STRATEGIES
    • 20.2.4 KEY STRENGTHS
    • 20.2.5 KEY OPPORTUNITIES
  • 20.3 ZEHNDER
    • 20.3.1 BUSINESS OVERVIEW
    • 20.3.2 PRODUCT OFFERINGS
    • 20.3.3 KEY STRATEGIES
    • 20.3.4 KEY STRENGTHS
    • 20.3.5 KEY OPPORTUNITIES
  • 20.4 OSTBERG
    • 20.4.1 BUSINESS OVERVIEW
    • 20.4.2 PRODUCT OFFERINGS
    • 20.4.3 KEY STRATEGIES
    • 20.4.4 KEY STRENGTHS
    • 20.4.5 KEY OPPORTUNITIES
  • 20.5 ALDES
    • 20.5.1 BUSINESS OVERVIEW
    • 20.5.2 PRODUCT OFFERINGS
    • 20.5.3 KEY STRATEGIES
    • 20.5.4 KEY STRENGTHS
    • 20.5.5 KEY OPPORTUNITIES
  • 20.6 BOSCH
    • 20.6.1 BUSINESS OVERVIEW
    • 20.6.2 PRODUCT OFFERINGS
    • 20.6.3 KEY STRATEGIES
    • 20.6.4 KEY STRENGTHS
    • 20.6.5 KEY OPPORTUNITIES
  • 20.7 DAIKIN
    • 20.7.1 BUSINESS OVERVIEW
    • 20.7.2 PRODUCT OFFERINGS
    • 20.7.3 KEY STRATEGIES
    • 20.7.4 EY STRENGTHS
    • 20.7.5 KEY OPPORTUNITIES
  • 20.8 SAMSUNG
    • 20.8.1 BUSINESS OVERVIEW
    • 20.8.2 PRODUCT OFFERINGS
    • 20.8.3 KEY STRATEGIES
    • 20.8.4 KEY STRENGTHS
    • 20.8.5 KEY OPPORTUNITIES
  • 20.9 MITSUBISHI ELECTRIC
    • 20.9.1 BUSINESS OVERVIEW
    • 20.9.2 PRODUCT OFFERINGS
    • 20.9.3 KEY STRATEGIES
    • 20.9.4 KEY STRENGTHS
    • 20.9.5 KEY OPPORTUNITIES

21 OTHER PROMINENT VENDORS

  • 21.1 LG
    • 21.1.1 BUSINESS OVERVIEW
    • 21.1.2 PRODUCT OFFERINGS
  • 21.2 PANASONIC
    • 21.2.1 BUSINESS OVERVIEW
    • 21.2.2 PRODUCT OFFERINGS
  • 21.3 CARRIER
    • 21.3.1 BUSINESS OVERVIEW
    • 21.3.2 PRODUCT OFFERINGS
  • 21.4 MIDEA
    • 21.4.1 BUSINESS OVERVIEW
    • 21.4.2 PRODUCT OFFERINGS
  • 21.5 REGAL
    • 21.5.1 BUSINESS OVERVIEW
    • 21.5.2 PRODUCT OFFERINGS
  • 21.6 RAYTHEON TECHNOLOGIES
    • 21.6.1 BUSINESS OVERVIEW
    • 21.6.2 PRODUCT OFFERINGS
  • 21.7 HONEYWELL
    • 21.7.1 BUSINESS OVERVIEW
    • 21.7.2 PRODUCT OFFERINGS
  • 21.8 FLAKT GROUP
    • 21.8.1 BUSINESS OVERVIEW
    • 21.8.2 PRODUCT OFFERINGS
  • 21.9 BEIJER REF
    • 21.9.1 BUSINESS OVERVIEW
    • 21.9.2 PRODUCT OFFERINGS
  • 21.10 FLEXIT
    • 21.10.1 BUSINESS OVERVIEW
    • 21.10.2 PRODUCT OFFERINGS
  • 21.11 GRUNDFOS
    • 21.11.1 BUSINESS OVERVIEW
    • 21.11.2 PRODUCT OFFERINGS
  • 21.12 SWEGON
    • 21.12.1 BUSINESS OVERVIEW
    • 21.12.2 PRODUCT OFFERINGS
  • 21.13 VTS
    • 21.13.1 BUSINESS OVERVIEW
    • 21.13.2 PRODUCT OFFERINGS
  • 21.14 NUAIRE
    • 21.14.1 BUSINESS OVERVIEW
    • 21.14.2 PRODUCT OFFERINGS
  • 21.15 NORTEK
    • 21.15.1 BUSINESS OVERVIEW
    • 21.15.2 PRODUCT OFFERINGS
  • 21.16 ALFA LAVAL
    • 21.16.1 BUSINESS OVERVIEW
    • 21.16.2 PRODUCT OFFERINGS
  • 21.17 HITACHI
    • 21.17.1 BUSINESS OVERVIEW
    • 21.17.2 PRODUCT OFFERINGS
  • 21.18 LU-VE
    • 21.18.1 BUSINESS OVERVIEW
    • 21.18.2 PRODUCT OFFERINGS
  • 21.19 VENT-AXIA
    • 21.19.1 BUSINESS OVERVIEW
    • 21.19.2 PRODUCT OFFERINGS
  • 21.20 ROSENBERG
    • 21.20.1 BUSINESS OVERVIEW
    • 21.20.2 PRODUCT OFFERINGS
  • 21.21 S & P
    • 21.21.1 BUSINESS OVERVIEW
    • 21.21.2 PRODUCT OFFERINGS
  • 21.22 WOLF
    • 21.22.1 BUSINESS OVERVIEW
    • 21.22.2 PRODUCT OFFERINGS
  • 21.23 CIAT
    • 21.23.1 BUSINESS OVERVIEW
    • 21.23.2 PRODUCT OFFERINGS
  • 21.24 AL-KO
    • 21.24.1 BUSINESS OVERVIEW
    • 21.24.2 PRODUCT OFFERINGS
  • 21.25 DYNAIR
    • 21.25.1 BUSINESS OVERVIEW
    • 21.25.2 PRODUCT OFFERINGS
  • 21.26 DANFOSS
    • 21.26.1 BUSINESS OVERVIEW
    • 21.26.2 PRODUCT OFFERINGS
  • 21.27 LENNOX
    • 21.27.1 BUSINESS OVERVIEW
    • 21.27.2 PRODUCT OFFERINGS
  • 21.28 BACKER SPRINGFIELD
    • 21.28.1 BUSINESS OVERVIEW
    • 21.28.2 PRODUCT OFFERINGS
  • 21.29 DUNHAM BUSH
    • 21.29.1 BUSINESS OVERVIEW
    • 21.29.2 PRODUCT OFFERINGS
  • 21.30 TCL
    • 21.30.1 BUSINESS OVERVIEW
    • 21.30.2 PRODUCT OFFERINGS
  • 21.31 TROX
    • 21.31.1 BUSINESS OVERVIEW
    • 21.31.2 PRODUCT OFFERINGS
  • 21.32 VAILLANT GROUP
    • 21.32.1 BUSINESS OVERVIEW
    • 21.32.2 PRODUCT OFFERINGS
  • 21.33 INGERSOLL RAND
    • 21.33.1 BUSINESS OVERVIEW
    • 21.33.2 PRODUCT OFFERINGS
  • 21.34 CAMFIL
    • 21.34.1 BUSINESS OVERVIEW
    • 21.34.2 PRODUCT OFFERINGS

22 REPORT SUMMARY

  • 22.1 KEY TAKEAWAYS
  • 22.2 STRATEGIC RECOMMENDATIONS

23 QUANTITATIVE SUMMARY

  • 23.1 MARKET BY GEOGRAPHY
    • 23.1.1 MARKET SIZE & FORECAST
  • 23.2 MARKET BY WESTERN EUROPE
    • 23.2.1 MARKET SIZE & FORECAST BY EQUIPMENT
    • 23.2.2 MARKET SIZE & FORECAST BY END-USER
  • 23.3 MARKET BY NORDIC
    • 23.3.1 MARKET SIZE & FORECAST BY EQUIPMENT
    • 23.3.2 MARKET SIZE & FORECAST BY END-USER
  • 23.4 MARKET BY CEE
    • 23.4.1 MARKET SIZE & FORECAST BY EQUIPMENT
    • 23.4.2 MARKET SIZE & FORECAST BY END-USER
  • 23.5 MARKET BY EQUIPMENT
    • 23.5.1 MARKET SIZE & FORECAST
  • 23.6 MARKET BY EQUIPMENT
    • 23.6.1 MARKET SIZE & FORECAST
  • 23.7 MARKET BY EQUIPMENT
    • 23.7.1 MARKET SIZE & FORECAST
  • 23.8 MARKET BY END-USER
    • 23.8.1 MARKET SIZE & FORECAST
  • 23.9 MARKET BY COMMERCIAL APPLICATION
    • 23.9.1 MARKET SIZE & FORECAST

24 APPENDIX

  • 24.1 ABBREVIATIONS
Product Code: ARZ221115

LIST OF EXHIBITS

  • EXHIBIT 1 SEGMENTATION OF HVAC MARKET
  • EXHIBIT 2 MARKET SIZE CALCULATION APPROACH 2022
  • EXHIBIT 3 CHANGING TRENDS
  • EXHIBIT 4 QUARTERLY REVIEW OF THE MARKET IN 2022
  • EXHIBIT 5 STRUCTURED APPROACH TO PROFITABILITY GOAL
  • EXHIBIT 6 POLICY FRAMEWORK
  • EXHIBIT 7 VALUE CHAIN ANALYSIS OF EUROPE HVAC MARKET
  • EXHIBIT 8 IMPACT OF REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT PRODUCTS
  • EXHIBIT 9 LIST OF ENVIRONMENTAL POLLUTION CAUSED BY TRADITIONAL HVAC SYSTEM.
  • EXHIBIT 10 ADVANCED ENERGY-EFFICIENT HVAC TECHNOLOGIES
  • EXHIBIT 11 IMPACT OF EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS
  • EXHIBIT 12 SOME MODERN TECHNOLOGY OF IOT FOR HVAC SYSTEMS
  • EXHIBIT 13 BENEFITS OF SMART IOT SYSTEMS
  • EXHIBIT 14 IMPACT OF CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM
  • EXHIBIT 15 TOP EUROPEAN COUNTRIES TEMPERATURE LEVELS BY 2022 (DEGREE CELSIUS)
  • EXHIBIT 16 IMPACT OF RISING CONSTRUCTION INDUSTRY
  • EXHIBIT 17 FIVE LARGEST DATA CENTER CONSTRUCTION PROJECTS INITIATED IN Q1 2022
  • EXHIBIT 18 EUROPE CONSTRUCTION DATA BY 2022
  • EXHIBIT 19 IMPACT OF AIRPORT MODERNIZATION
  • EXHIBIT 20 EUROPE COUNTRIES PASSENGER TRAFFIC GROWTH IN MARCH 2022 (YOY)
  • EXHIBIT 21 IMPACT OF GROWING VRF SYSTEMS
  • EXHIBIT 22 KEY ADVANTAGES OF VARIABLE REFRIGERANT FLOW SYSTEM:
  • EXHIBIT 23 KEY HIGHLIGHTS OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEM GROWTH IN 2022
  • EXHIBIT 24 IMPACT OF LACK OF SKILLED LABOR
  • EXHIBIT 25 MEASURES TAKEN BY VARIOUS AGENCIES AND ORGANIZATIONS
  • EXHIBIT 26 IMPACT OF STRINGENCY IN REGULATIONS
  • EXHIBIT 27 OPERATION THERMOSTAT, A GOVERNMENT PLAN FOR ENERGY CONSUMPTION REDUCTION
  • EXHIBIT 28 IMPACT OF VULNERABILITY TO COVID-19
  • EXHIBIT 29 ENERGY CONSUMPTION IN EUROPE, 2020
  • EXHIBIT 30 HVAC MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 31 FIVE FORCES ANALYSIS 2022
  • EXHIBIT 32 INCREMENTAL GROWTH BY EQUIPMENT 2022 & 2028
  • EXHIBIT 33 HEATING EQUIPMENT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 34 HEAT PUMP MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 35 BOILER UNIT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 36 FURNACE MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 37 OTHERS HEATING EQUIPMENT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 38 AIR CONDITIONING MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 39 RAC MARKET IN EUROPE MARKET 2022-2028 ($ BILLION)
  • EXHIBIT 40 CAC MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 41 CHILLERS MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 42 HEAT EXCHANGER MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 43 OTHERS AIR CONDITIONING MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 44 VENTILATION MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 45 AIR HANDLING UNIT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 46 AIR FILTERS UNIT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 47 HUMIDIFIERS & DEHUMIDIFIERS MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 48 FAN COIL UNIT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 49 OTHERS VENTILATION EQUIPMENT MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 50 INCREMENTAL GROWTH BY END-USER 2022 & 2028 (VALUE)
  • EXHIBIT 51 CONSTRUCTION & HOUSING INSIGHTS 2015-2021
  • EXHIBIT 52 RESIDENTIAL SECTOR HVAC MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 53 YOY PERCENTAGE CHANGE IN CONSTRUCTION IN NETHERLANDS 2020-2022
  • EXHIBIT 54 COMMERCIAL SECTOR HVAC MARKET IN EUROPE 2022-2028 ($ BILLION)
  • EXHIBIT 55 HVAC MARKET IN EUROPE BY OFFICE SPACES 2022-2028 ($ BILLION)
  • EXHIBIT 56 HVAC MARKET IN EUROPE BY AIRPORTS & PUBLIC UTILITIES 2022-2028 ($ BILLION)
  • EXHIBIT 57 HVAC MARKET IN EUROPE BY HOSPITALITY 2022-2028 ($ BILLION)
  • EXHIBIT 58 HVAC MARKET IN EUROPE BY HOSPITALS 2022-2028 ($ BILLION)
  • EXHIBIT 59 GROWTH RATE OF INDUSTRIAL & OTHERS
  • EXHIBIT 60 HVAC MARKET IN EUROPE BY INDUSTRIAL AND OTHERS 2022-2028 ($ BILLION)
  • EXHIBIT 61 INCREMENTAL GROWTH BY GEOGRAPHY 2022 & 2028 (VALUE)
  • EXHIBIT 62 EUROPEAN COMMISSION: SPRING 2022 ECONOMIC FORECAST
  • EXHIBIT 63 VALUE OF CONSTRUCTION ACTIVITIES IN EUROPE IN 2020 ($ BILLION)
  • EXHIBIT 64 INCREMENTAL REVENUE OF KEY WESTERN EU COUNTRIES 2022-2028 ($ BILLION)
  • EXHIBIT 65 DEMAND FOR AIR CONDITIONERS IN EUROPE IN 2021 (MILLION UNITS)
  • EXHIBIT 66 HVAC MARKET IN WESTERN EUROPE 2022-2028 ($BILLION)
  • EXHIBIT 67 INCREMENTAL GROWTH BY GEOGRAPHY 2022 & 2028 (VALUE)
  • EXHIBIT 68 HVAC MARKET IN GERMANY 2022-2028 ($ BILLION)
  • EXHIBIT 69 HVAC MARKET IN FRANCE 2022-2028 ($ BILLION)
  • EXHIBIT 70 HVAC MARKET IN UK 2022-2028 ($ BILLION)
  • EXHIBIT 71 CONSUMPTION OF HVAC EQUIPMENT IN CONSTRUCTION INDUSTRY IN 2019
  • EXHIBIT 72 HVAC MARKET IN ITALY 2022-2028 ($ BILLION)
  • EXHIBIT 73 HVAC MARKET IN NETHERLANDS 2022-2028 ($ BILLION)
  • EXHIBIT 74 PRODUCTION OF APARTMENTS & SMALL HOUSES IN SWEDEN 2016-2022 ($ BILLION)
  • EXHIBIT 75 HVAC MARKET IN NORDIC 2022-2028 ($ BILLION)
  • EXHIBIT 76 INCREMENTAL GROWTH IN NORDIC 2022 & 20228(VALUE)
  • EXHIBIT 77 HVAC MARKET IN NORWAY 2022-2028 ($ BILLION)
  • EXHIBIT 78 HVAC MARKET IN DENMARK 2022-2028 ($ BILLION)
  • EXHIBIT 79 HVAC MARKET IN SWEDEN 2022-2028 ($ BILLION)
  • EXHIBIT 80 HVAC MARKET IN OTHER COUNTRIES IN NORDIC 2022-2028 ($ BILLION)
  • EXHIBIT 81 INCREMENTAL REVENUE OF CEE 2022-2028 ($ BILLION)
  • EXHIBIT 82 HVAC MARKET IN CEE 2022-2028 ($ BILLION)
  • EXHIBIT 83 INCREMENTAL GROWTH IN CEE 2022 & 2028
  • EXHIBIT 84 HVAC MARKET IN RUSSIA 2022-2028 ($ BILLION)
  • EXHIBIT 85 HVAC MARKET IN POLAND & AUSTRIA 2022-2028 ($ BILLION)
  • EXHIBIT 86 HVAC MARKET IN OTHER CEE COUNTRIES 2022-2028 ($ BILLION)

LIST OF TABLES

  • TABLE 1 KEY CAVEATS
  • TABLE 2 CURRENCY CONVERSION 2015-2022
  • TABLE 3 EUROPEAN COUNTRIES HEATING DEGREE DAYS, 2020-2021
  • TABLE 4 EUROPEAN COUNTRIES COOLING DEGREE DAYS, 2020 - 2021
  • TABLE 5 HEATING EQUIPMENT MARKET BY GEOGRAPHY 2019-2021 ($ BILLION)
  • TABLE 6 HEATING EQUIPMENT MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 7 AIR CONDITIONING MARKET BY GEOGRAPHY 2019-2021 ($ BILLION)
  • TABLE 8 AIR CONDITIONING MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 9 VENTILATION MARKET BY GEOGRAPHY 2019-2021 ($ BILLION)
  • TABLE 10 VENTILATION MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 11 RESIDENTIAL SECTOR HVAC MARKET GEOGRAPHY 2019-2021 ($ BILLION)
  • TABLE 12 RESIDENTIAL SECTOR HVAC MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 13 COMMERCIAL SECTOR HVAC MARKET GEOGRAPHY 2019-2021 ($ BILLION)
  • TABLE 14 COMMERCIAL SECTOR HVAC MARKET BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 15 HVAC MARKET BY EQUIPMENT IN WESTERN EUROPE 2019-2021 ($ BILLION)
  • TABLE 16 HVAC MARKET BY EQUIPMENT IN WESTERN EUROPE 2022-2028 ($BILLION)
  • TABLE 17 HVAC MARKET BY END-USER IN WESTERN EUROPE 2019-2021 ($ BILLION)
  • TABLE 18 HVAC MARKET BY END-USER IN WESTERN EUROPE 2022-2028 ($ BILLION)
  • TABLE 19 HVAC MARKET BY EQUIPMENT IN NORDIC 2019-2022 ($ BILLION)
  • TABLE 20 HVAC MARKET BY EQUIPMENT IN NORDIC 2022-2028 ($ BILLION)
  • TABLE 21 HVAC MARKET BY END-USER IN NORDIC 2019-2021 ($ BILLION)
  • TABLE 22 HVAC MARKET BY END-USER IN NORDIC 2022-2028 ($ BILLION)
  • TABLE 23 HVAC MARKET BY EQUIPMENT IN CEE 2019-2021 ($ BILLION)
  • TABLE 24 HVAC MARKET BY EQUIPMENT IN CEE 2022-2028 ($ BILLION)
  • TABLE 25 HVAC MARKET BY END-USER IN CEE 2019-2021 ($ BILLION)
  • TABLE 26 HVAC MARKET BY END-USER IN CEE 2022-2028 ($ BILLION)
  • TABLE 27 SYSTEMAIR: MAJOR PRODUCT OFFERINGS
  • TABLE 28 JOHNSON CONTROLS: MAJOR PRODUCT OFFERINGS
  • TABLE 29 ZEHNDER: MAJOR PRODUCT OFFERINGS
  • TABLE 30 OSTBERG: MAJOR PRODUCT OFFERINGS
  • TABLE 31 ALDES: MAJOR PRODUCT OFFERINGS
  • TABLE 32 BOSCH: MAJOR PRODUCT OFFERINGS
  • TABLE 33 DAIKIN: MAJOR PRODUCT OFFERINGS
  • TABLE 34 SAMSUNG: MAJOR PRODUCT OFFERINGS
  • TABLE 35 MITSUBISHI ELECTRIC: MAJOR PRODUCT OFFERINGS
  • TABLE 36 LG: MAJOR PRODUCT OFFERINGS
  • TABLE 37 PANASONIC: MAJOR PRODUCT OFFERINGS
  • TABLE 38 CARRIER: MAJOR PRODUCT OFFERINGS
  • TABLE 39 MIDEA: MAJOR PRODUCT OFFERINGS
  • TABLE 40 REGAL: MAJOR PRODUCT OFFERINGS
  • TABLE 41 RAYTHEON TECHNOLOGIES: MAJOR PRODUCT OFFERINGS
  • TABLE 42 HONEYWELL: MAJOR PRODUCT OFFERINGS
  • TABLE 43 FLAKT GROUP: MAJOR PRODUCT OFFERINGS
  • TABLE 44 BEIJER REF: MAJOR PRODUCT OFFERINGS
  • TABLE 45 FLEXIT: MAJOR PRODUCT OFFERINGS
  • TABLE 46 GRUNDFOS: MAJOR PRODUCT OFFERINGS
  • TABLE 47 SWEGON: MAJOR PRODUCT OFFERINGS
  • TABLE 48 VTS: MAJOR PRODUCT OFFERINGS
  • TABLE 49 NUAIRE: MAJOR PRODUCT OFFERINGS
  • TABLE 50 NORTEK: MAJOR PRODUCT OFFERINGS
  • TABLE 51 ALFA LAVAL: MAJOR PRODUCT OFFERINGS
  • TABLE 52 HITACHI: MAJOR PRODUCT OFFERINGS
  • TABLE 53 LU-VE: MAJOR PRODUCT OFFERINGS
  • TABLE 54 VENT-AXIA: MAJOR PRODUCT OFFERINGS
  • TABLE 55 ROSENBERG: MAJOR PRODUCT OFFERINGS
  • TABLE 56 S & P: MAJOR PRODUCT OFFERINGS
  • TABLE 57 WOLF: MAJOR PRODUCT OFFERINGS
  • TABLE 58 CIAT: MAJOR PRODUCT OFFERINGS
  • TABLE 59 AL-KO: MAJOR PRODUCT OFFERINGS
  • TABLE 60 DYNAIR: MAJOR PRODUCT OFFERINGS
  • TABLE 61 DANFOSS: MAJOR PRODUCT OFFERINGS
  • TABLE 62 LENNOX: MAJOR PRODUCT OFFERINGS
  • TABLE 63 BACKER SPRINGFIELD: MAJOR PRODUCT OFFERINGS
  • TABLE 64 DUNHAMBUSH: MAJOR PRODUCT OFFERINGS
  • TABLE 65 TCL: MAJOR PRODUCT OFFERINGS
  • TABLE 66 TROX: MAJOR PRODUCT OFFERINGS
  • TABLE 67 VAILLANT: MAJOR PRODUCT OFFERINGS
  • TABLE 68 INGERSOLL RAND: MAJOR PRODUCT OFFERINGS
  • TABLE 69 CAMFIL: MAJOR PRODUCT OFFERINGS
  • TABLE 70 HVAC MARKET IN EUROPE BY GEOGRAPHY 2022-2028 ($ BILLION)
  • TABLE 71 HVAC MARKET IN WESTERN EUROPE BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 72 HVAC MARKET IN WESTERN EUROPE BY END-USER 2022-2028 ($ BILLION)
  • TABLE 73 HVAC MARKET IN NORDIC BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 74 HVAC MARKET IN NORDIC BY END-USER 2022-2028 ($ BILLION)
  • TABLE 75 HVAC MARKET IN CEE BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 76 HVAC MARKET IN CEE BY END-USER 2022-2028 ($ BILLION)
  • TABLE 77 HVAC MARKET IN EUROPE BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 78 HVAC MARKET IN EUROPE BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 79 HVAC MARKET IN EUROPE BY EQUIPMENT 2022-2028 ($ BILLION)
  • TABLE 80 HVAC MARKET IN EUROPE BY END-USER 2022-2028 ($ BILLION)
  • TABLE 81 HVAC MARKET IN EUROPE BY COMMERCIAL APPLICATION 2022-2028 ($ BILLION)
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