Europe HVAC Market - Industry Outlook & Forecast 2024-2029

List of Tables

The Europe HVAC market was valued at USD 64.33 billion in 2023 and is expected to grow at a CAGR of 6.24% from 2023 to 2029.

MARKET TRENDS & DRIVERS

Climatic Conditions and Heatwaves Propel the Europe HVAC Market

Air-conditioned units used and installed in office spaces are standard in Europe. However, it isn't easy to find AC units in homes. Cities across the region are not designed to handle the soaring temperature, and certain historic buildings are not even allowed to have a modern cooling system installed. Hence, these factors promote the usage of portable cooling units in most residential and commercial buildings across European countries. Furthermore, the HVAC industry constantly updates heating and cooling systems to increase energy efficiency. These advances increase energy savings, help homeowners sustain climate change, and protect the environment. Hence, the increased temperature propels the demand for ACs for commercial and residential purposes. In 2021, the International Energy Agency (IEA) estimated that European air-conditioner stock will double in the next two decades as record heat becomes more prevalent. Hence, such factors drive the HVAC market's growth during the projected period.

Favorable Government Policies Across the Countries

The favorable government policies across the countries that support the usage of RES and prevent the emission of GHGs into the atmosphere are driving the Europe HVAC market. Policymakers are also trying to frame policies that can support the decarbonization of transportation and the management of power sectors. Implementing appliances using renewable sources can become mandatory for extensive and mega projects to be certified as sustainable and green building units. This can substantially drive the adoption of HVAC systems in residential and large commercial spaces.

INDUSTRY RESTRAINTS

High Installation and Upfront Costs

Despite the benefits associated with heating and ventilating equipment concerning their sustainable contribution to the environment, its high initial and upfront cost is hindering their adoption. This can be a major challenge, especially in the growing economies and price-sensitive markets of European countries, where cost is a major influencing factor for purchase. Although there is evidence that heating equipment generates low operational costs over time compared to conventional gas and solar heaters, the high installation cost is a burden for vendors in the Europe HVAC market. Also, the price is estimated to vary and fluctuate per the local dealer, market, home condition, and climate. Furthermore, the operating costs, based on the source of fuel such as natural gas, propane, or oil, in addition to electricity, are also influenced during the time of purchase. Although the hybrid or dual fuel heat pump may be an ideal solution for reducing operational costs, the hybrid category's high price and upfront cost are major market adoption challenges.

SEGMENTATION INSIGHTS

INSIGHTS BY EQUIPMENT TYPE

HVAC refers to heating, ventilation, air conditioning, collective heating, and cooling technologies used at residential, industrial, commercial, and public utility buildings. The Europe HVAC market can be divided into three categories based on functionality: heating, ventilation, and air conditioning. The heating segment holds the most significant European market share in 2023. The heating equipment sector is characterized by intense competition, as the same has extreme traction in the cold climatic conditions of the region. Many European residential buildings use central heating systems, which distribute heat throughout the entire building from a single heat source. Various energy sources, including electricity, natural gas, oil, and district heating, can power these heating systems. The heating equipment is generally fragmented; therefore, the industry is characterized by many local/domestic. Furthermore, heat pumps are the major revenue generators for the heating market, with air/water heat pumps and ground-source heat pumps having considerable applications. The heat pump market is mainly strong in single or two-family houses, with over 70% penetration rate. Apart from heat pumps, furnaces and boiler units have significant shares in the heating equipment market.

The air conditioning segment is projected to witness the highest segmental CAGR during the forecast period in the Europe HVAC market. Europe has a distinct climatic condition, with some regions experiencing mild summers while others, predominantly in the southern part of Europe, experience humid summers. Recently, heatwaves have become more intense and frequent, increasing demand for air conditioners or cooling solutions. The air conditioner (AC) equipment market is characterized by the presence of many vendors, both domestic and multinational. The market is seasonal and is characterized by modern technology. CAC and RAC segments constitute a major part of the market.

Segmentation by Equipment

Heating
Air Conditioning
Ventilation

Segmentation by Heating

Heat Pump
Boiler Unit
Furnace
Others

Segmentation by Air Conditioning

RAC
CAC
Chiller
Heat Exchanger
Others

Segmentation by Ventilation

Air Handling Unit (AHU)
Air filter
Humidifier & Dehumidifier
Fan Coil Unit
Other Ventilation Equipment

INSIGHTS BY END USERS

The Europe HVAC market by end-user is segmented as residential, commercial, and others. The residential segment held the most prominent market share in 2023. The rise in construction of pools in high-rise buildings, enhancing the resale value prospect, disposable income, growing awareness of geothermal energy, the use of HVAC systems using renewable resources, and rising concern for sustainability and eco-friendly are expected to drive the market over the forecast period in the residential sector. However, during the forecast period, the commercial segment is projected to witness the fastest CAGR in the Europe HVAC market.

The growth of the commercial segment is attributable to the development of affordable and flexible HVAC that matches the complex and dynamic infrastructure and helps reduce utility bills. Institutions such as schools, colleges, sports complexes, and water parks use renewable technologies to differentiate themselves and showcase their commitment to reducing their carbon footprint. Restaurants, hotels, spas, and recreation centers are the major end-users in the segment, which poses a strong growth prospect for the next five years. Also, HVAC systems can gain adoption in the commercial segment by capitalizing on air source heat pumps as they are proven more energy-efficient and high-performing for large-scale operations throughout the year.

Segmentation by End-user

Residential
Commercial
Others

GEOGRAPHICAL ANALYSIS

The Western European region held the most significant Europe HVAC market share, valued at over USD 36 billion in 2023. Major factors spiking the sales of HVAC equipment in the region are rising average construction spending, increasing retail building construction projects, rising government spending on sustainable building development, industrial developments, rapid urbanization, changing climatic conditions, and growth in disposable income across European countries.

Further, several Northern and Central European countries experience harsh cold weather yearly. The changing weather conditions and poor air quality maintenance determine the annual consumption pattern of HVAC equipment in European countries. Most Europe HVAC market manufacturers invest in innovations to gain a competitive advantage. Sales of energy-efficient equipment grew in the last four years due to EU directives pushing all stakeholders in the industry to invest in sustainable models of operation. Also, European countries have been emphasizing the utilization of energy-efficient HVAC systems. The demand for energy-efficient cooling and heating solutions has surged, driven by regulatory requirements and consumer preferences. Using efficient heat pumps in manufacturing facilities and residential and commercial buildings is a pivotal strategy for reducing greenhouse gases and achieving the goals outlined in the Green Deal and REPower EU targets.

Segmentation by Geography

Western Europe
- Germany
- France
- UK
- Italy
- Netherlands
- Spain
- Belgium
Nordic
- Norway
- Denmark
- Sweden
- Finland
Central & Eastern Europe (CEE)
- Russia
- Poland & Austria
- Hungary
- Czech Republic

VENDOR LANDSCAPE

The Europe HVAC market benefits from large government incentives to end-users, with government objectives meeting carbon emission targets and other climate change control measures. Government schemes stimulated the demand for energy-efficient equipment. The industry is characterized by the existence of many market participants in each of the countries and each of the product categories. Aldes, Daikin, Johnson Controls, Mitsubishi Electric, Ostberg, Pentair, Robert Bosch, Rheem Manufacturing Company, Samsung, Siemens AG, Systemair, and Zehnder are the key players in the Europe HVAC market. Further, with technological upheaval, the industry has seen an influx of affordable systems. Vendors that have advanced technology and meet standards set from an ecological perspective have a competitive edge over other vendors. Hence, although sustainability is a significant factor in the HVAC industry, incorporating technology and statutory standards is a step ahead in the competitive market.

Key Company Profiles

Aldes
Daikin
Johnson Controls
Mitsubishi Electric
Ostberg
Pentair
Robert Bosch
Rheem Manufacturing Company
Samsung
Siemens AG
Systemair
Zehnder

Other Prominent Vendors

Alfa Laval
Carrier
Honeywell International Inc
LG
Panasonic
Midea
Regal
Raytheon Technologies
Flakt Group
Swegon
VTS Group
Nuaire
Nortek
Hitachi
LU-VE
Vent-Axia
Rosenberg
S & P
Wolf
CIAT
AL-KO GROUP
Dynair
Danfoss
Lennox
Backer Springfield
Dunhambush
TCL
Trox
Vaillant Group
Viessmann Group
Stiebel Eltron
NIBE Group
Uponor Corporation
Glen Dimplex
Ferroli
Elco Burners
BDR Thermea Group
Biddle Air Systems
Riello Group
Ingersoll Rand
Camfil

KEY QUESTIONS ANSWERED:

1. How big is the European HVAC market?

2. What is the growth rate of the Europe HVAC market?

3. Which region dominates the Europe HVAC market share?

4. What are the significant trends in the Europe HVAC market?

5. Who are the key players in the Europe HVAC market?

Product Code: ARZ240217

1 SCOPE & COVERAGE

1.1 MARKET DEFINITION
- 1.1.1 INCLUSIONS
- 1.1.2 EXCLUSIONS
- 1.1.3 MARKET ESTIMATION CAVEATS
1.2 SEGMENT COVERED & DEFINITIONS
- 1.2.1 MARKET SEGMENTATION BY EQUIPMENT
- 1.2.2 MARKET SEGMENTATION BY END-USER
- 1.2.3 MARKET SEGMENTATION BY COUNTRY
1.3 MARKET DERIVATION
- 1.3.1 HISTORIC, BASE, AND FORECAST YEARS

2 PREMIUM INSIGHTS

2.1 OPPORTUNITY POCKETS
2.2 OVERVIEW
- 2.2.1 MARKET DYNAMICS
- 2.2.2 MARKET SEGMENTATION BY EQUIPMENT
- 2.2.3 MARKET SEGMENTATION BY END-USER
- 2.2.4 GROWTH STRATEGY OF KEY VENDORS

3 MARKET AT A GLANCE

4 INTRODUCTION

4.1 OVERVIEW
- 4.1.1 PROS OF SMART HVAC SYSTEM
- 4.1.2 CONS OF SMART HVAC SYSTEM
- 4.1.3 KEY INSIGHTS FOR HVAC SYSTEM
- 4.1.4 PROFIT MARGINS
- 4.1.5 MERGER & ACQUISITIONS AND PRODUCT DEVELOPMENT
4.2 GOVERNMENT REGULATIONS PROMOTING HVAC SYSTEMS
- 4.2.1 OVERVIEW
- 4.2.2 REPOWEREU PLAN CONTRIBUTION TO HVAC MARKET
- 4.2.3 ADVANTAGES OF REPOWEREU PLAN
4.3 PRIMARY SELLING POINTS
4.4 RISK MANAGEMENT
4.5 KEY COMPETITIVE HIGHLIGHTS
- 4.5.1 KEY INSIGHTS OF DEMAND FOR HVAC SYSTEMS
4.6 DEMAND FROM COMMERCIAL SPACES
4.7 VALUE CHAIN
- 4.7.1 RAW MATERIAL SUPPLIERS & COMPONENTS
- 4.7.2 MANUFACTURERS
- 4.7.3 DEALERS /DISTRIBUTOR
- 4.7.4 RETAILERS
- 4.7.5 END-USERS

5 MARKET OPPORTUNITIES & TRENDS

5.1 EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS
5.2 REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT ONES
5.3 CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM

6 MARKET GROWTH ENABLERS

6.1 RISE IN COMMERCIAL CONSTRUCTION AND PROJECTS
- 6.1.1 INCREASE IN DEMAND FOR HVAC SYSTEMS IN COWORKING SPACES
6.2 AIRPORT MODERNIZATION
6.3 GROWING VRF SYSTEMS
6.4 FAVORABLE GOVERNMENT POLICIES AND INCENTIVES
6.5 DEMAND FOR LOW GWP REFRIGERANT SOLUTIONS IN HEATING EQUIPMENT

7 MARKET RESTRAINTS

7.1 TURBULENT POLITICAL AND TRADE RELATIONS
7.2 HIGH INSTALLATION AND UPFRONT COSTS
7.3 LACK OF SKILLED LABOR
7.4 STRINGENT REGULATIONS

8 MARKET LANDSCAPE

8.1 MARKET OVERVIEW
- 8.1.1 KEY HIGHLIGHTS
8.2 MARKET SIZE & FORECAST
8.3 FIVE FORCES ANALYSIS
- 8.3.1 THREAT OF NEW ENTRANTS
- 8.3.2 BARGAINING POWER OF SUPPLIERS
- 8.3.3 BARGAINING POWER OF BUYERS
- 8.3.4 THREAT OF SUBSTITUTES
- 8.3.5 COMPETITIVE RIVALRY

9 EQUIPMENT

9.1 MARKET SNAPSHOT & GROWTH ENGINE
9.2 MARKET OVERVIEW
- 9.2.1 KEY INSIGHTS
- 9.2.2 EQUIPMENT MARKET DYNAMICS

10 HEATING

10.1 MARKET OVERVIEW
- 10.1.1 MARKET SIZE & FORECAST
- 10.1.2 MARKET BY GEOGRAPHY
10.2 HEAT PUMP
- 10.2.1 MARKET SIZE & FORECAST
10.3 BOILER UNIT
- 10.3.1 MARKET SIZE & FORECAST
10.4 FURNACE
- 10.4.1 MARKET SIZE & FORECAST
10.5 OTHERS HEATING EQUIPMENT
- 10.5.1 MARKET SIZE & FORECAST

11 AIR CONDITIONING

11.1 MARKET OVERVIEW
- 11.1.1 MARKET SIZE & FORECAST
- 11.1.2 MARKET BY GEOGRAPHY
11.2 RAC
- 11.2.1 MARKET SIZE & FORECAST
11.3 CAC
- 11.3.1 MARKET SIZE & FORECAST
11.4 CHILLER
- 11.4.1 TYPES OF CHILLERS
- 11.4.2 MARKET SIZE & FORECAST
11.5 HEAT EXCHANGER
- 11.5.1 MARKET SIZE & FORECAST
- 11.5.2 KEY TAKEAWAYS
11.6 OTHER AIR CONDITIONER EQUIPMENT
- 11.6.1 MARKET SIZE & FORECAST

12 VENTILATION

12.1 MARKET OVERVIEW
- 12.1.1 MARKET SIZE & FORECAST
- 12.1.2 MARKET BY GEOGRAPHY
- 12.1.3 MARKET DYNAMICS OF VENTILATION EQUIPMENT
12.2 AIR HANDLING UNIT (AHU)
- 12.2.1 MARKET SIZE & FORECAST
12.3 AIR FILTER
- 12.3.1 MARKET SIZE & FORECAST
12.4 HUMIDIFIER & DEHUMIDIFIER
- 12.4.1 MARKET SIZE & FORECAST
12.5 FAN COIL UNIT
- 12.5.1 MARKET SIZE & FORECAST
12.6 OTHER VENTILATION EQUIPMENT
- 12.6.1 MARKET SIZE & FORECAST

13 END-USER

13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 RESIDENTIAL
- 13.3.1 MARKET OVERVIEW
- 13.3.2 MARKET SIZE & FORECAST
- 13.3.3 MARKET BY GEOGRAPHY
13.4 COMMERCIAL
- 13.4.1 MARKET OVERVIEW
- 13.4.2 MARKET SIZE & FORECAST
- 13.4.3 MARKET BY GEOGRAPHY
13.5 OTHERS
- 13.5.1 MARKET OVERVIEW
- 13.5.2 MARKET SIZE & FORECAST
- 13.5.3 MARKET BY GEOGRAPHY

14 GEOGRAPHY

14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 GEOGRAPHIC OVERVIEW
- 14.2.1 KEY DRIVING FACTORS
- 14.2.2 MARKET DYNAMICS

15 WESTERN EUROPE

15.1 MARKET OVERVIEW
15.2 MARKET SIZE & FORECAST
15.3 EQUIPMENT
- 15.3.1 MARKET SIZE & FORECAST
15.4 HEATING
- 15.4.1 MARKET SIZE & FORECAST
15.5 AIR CONDITIONER
- 15.5.1 MARKET SIZE & FORECAST
15.6 VENTILATION
- 15.6.1 MARKET SIZE & FORECAST
15.7 END-USER
- 15.7.1 MARKET SIZE & FORECAST
15.8 KEY COUNTRIES
15.9 GERMANY: MARKET SIZE & FORECAST
15.10 FRANCE: MARKET SIZE & FORECAST
15.11 UK: MARKET SIZE & FORECAST
15.12 ITALY: MARKET SIZE & FORECAST
15.13 NETHERLANDS: MARKET SIZE & FORECAST
15.14 SPAIN: MARKET SIZE & FORECAST
15.15 BELGIUM: MARKET SIZE & FORECAST

16 NORDIC

16.1 MARKET OVERVIEW
16.2 MARKET SIZE & FORECAST
16.3 EQUIPMENT
- 16.3.1 MARKET SIZE & FORECAST
16.4 HEATING
- 16.4.1 MARKET SIZE & FORECAST
16.5 AIR CONDITIONER
- 16.5.1 MARKET SIZE & FORECAST
16.6 VENTILATION
- 16.6.1 MARKET SIZE & FORECAST
16.7 END-USER
- 16.7.1 MARKET SIZE & FORECAST
16.8 KEY COUNTRIES
16.9 NORWAY: MARKET SIZE & FORECAST
16.10 DENMARK: MARKET SIZE & FORECAST
16.11 SWEDEN: MARKET SIZE & FORECAST
16.12 FINLAND: MARKET SIZE & FORECAST

17 CENTRAL & EASTERN EUROPE (CEE)

17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.3 EQUIPMENT
- 17.3.1 MARKET SIZE & FORECAST
17.4 HEATING
- 17.4.1 MARKET SIZE & FORECAST
17.5 AIR CONDITIONER
- 17.5.1 MARKET SIZE & FORECAST
17.6 VENTILATION
- 17.6.1 MARKET SIZE & FORECAST
17.7 END-USER
- 17.7.1 MARKET SIZE & FORECAST
17.8 KEY COUNTRIES
17.9 RUSSIA: MARKET SIZE & FORECAST
17.10 POLAND: MARKET SIZE & FORECAST
17.11 HUNGARY: MARKET SIZE & FORECAST
17.12 CZECH REPUBLIC: MARKET SIZE & FORECAST

18 COMPETITIVE LANDSCAPE

18.1 COMPETITION OVERVIEW
18.2 GROWTH STRATEGY OF KEY VENDORS
18.3 GLOBAL DYNAMICS OF HVAC TECHNOLOGY AND COMPETENCIES
18.4 HVAC SYSTEM NORMS AND REGULATIONS

19 KEY COMPANY PROFILES

19.1 ALDES
- 19.1.1 BUSINESS OVERVIEW
- 19.1.2 PRODUCT OFFERINGS
- 19.1.3 KEY STRATEGIES
- 19.1.4 KEY STRENGTHS
- 19.1.5 KEY OPPORTUNITIES
19.2 DAIKIN
- 19.2.1 BUSINESS OVERVIEW
- 19.2.2 PRODUCT OFFERINGS
- 19.2.3 KEY STRATEGIES
- 19.2.4 KEY STRENGTHS
- 19.2.5 KEY OPPORTUNITIES
19.3 JOHNSON CONTROLS
- 19.3.1 BUSINESS OVERVIEW
- 19.3.2 PRODUCT OFFERINGS
- 19.3.3 KEY STRATEGIES
- 19.3.4 KEY STRENGTHS
- 19.3.5 KEY OPPORTUNITIES
19.4 MITSUBISHI ELECTRIC
- 19.4.1 BUSINESS OVERVIEW
- 19.4.2 PRODUCT OFFERINGS
- 19.4.3 KEY STRATEGIES
- 19.4.4 KEY STRENGTHS
- 19.4.5 KEY OPPORTUNITIES
19.5 OSTBERG
- 19.5.1 BUSINESS OVERVIEW
- 19.5.2 PRODUCT OFFERINGS
- 19.5.3 KEY STRATEGIES
- 19.5.4 KEY STRENGTHS
- 19.5.5 KEY OPPORTUNITIES
19.6 PENTAIR
- 19.6.1 BUSINESS OVERVIEW
- 19.6.2 PRODUCT OFFERINGS
- 19.6.3 KEY STRATEGIES
- 19.6.4 KEY STRENGTHS
- 19.6.5 KEY OPPORTUNITIES
19.7 ROBERT BOSCH
- 19.7.1 BUSINESS OVERVIEW
- 19.7.2 PRODUCT OFFERINGS
- 19.7.3 KEY STRATEGIES
- 19.7.4 KEY STRENGTHS
- 19.7.5 KEY OPPORTUNITIES
19.8 RHEEM MANUFACTURING COMPANY
- 19.8.1 BUSINESS OVERVIEW
- 19.8.2 PRODUCT OFFERINGS
- 19.8.3 KEY STRATEGIES
- 19.8.4 KEY STRENGTHS
- 19.8.5 KEY OPPORTUNITIES
19.9 SAMSUNG
- 19.9.1 BUSINESS OVERVIEW
- 19.9.2 PRODUCT OFFERINGS
- 19.9.3 KEY STRATEGIES
- 19.9.4 KEY STRENGTHS
- 19.9.5 KEY OPPORTUNITIES
19.10 SIEMENS AG
- 19.10.1 BUSINESS OVERVIEW
- 19.10.2 PRODUCT OFFERINGS
- 19.10.3 KEY STRATEGIES
- 19.10.4 KEY STRENGTHS
- 19.10.5 KEY OPPORTUNITIES
19.11 SYSTEMAIR
- 19.11.1 BUSINESS OVERVIEW
- 19.11.2 PRODUCT OFFERINGS
- 19.11.3 KEY STRATEGIES
- 19.11.4 KEY STRENGTHS
- 19.11.5 KEY OPPORTUNITIES
19.12 ZEHNDER
- 19.12.1 BUSINESS OVERVIEW
- 19.12.2 PRODUCT OFFERINGS
- 19.12.3 KEY STRATEGIES
- 19.12.4 KEY STRENGTHS
- 19.12.5 KEY OPPORTUNITIES

20 OTHER PROMINENT VENDORS

20.1 ALFA LAVAL
- 20.1.1 BUSINESS OVERVIEW
- 20.1.2 PRODUCT OFFERINGS
20.2 CARRIER
- 20.2.1 BUSINESS OVERVIEW
- 20.2.2 PRODUCT OFFERINGS
20.3 HONEYWELL INTERNATIONAL INC
- 20.3.1 BUSINESS OVERVIEW
- 20.3.2 PRODUCT OFFERINGS
20.4 LG
- 20.4.1 BUSINESS OVERVIEW
- 20.4.2 PRODUCT OFFERINGS
20.5 PANASONIC
- 20.5.1 BUSINESS OVERVIEW
- 20.5.2 PRODUCT OFFERINGS
20.6 MIDEA
- 20.6.1 BUSINESS OVERVIEW
- 20.6.2 PRODUCT OFFERINGS
20.7 REGAL
- 20.7.1 BUSINESS OVERVIEW
- 20.7.2 PRODUCT OFFERINGS
20.8 RAYTHEON TECHNOLOGIES
- 20.8.1 BUSINESS OVERVIEW
- 20.8.2 PRODUCT OFFERINGS
20.9 FLAKT GROUP
- 20.9.1 BUSINESS OVERVIEW
- 20.9.2 PRODUCT OFFERINGS
20.10 SWEGON
- 20.10.1 BUSINESS OVERVIEW
- 20.10.2 PRODUCT OFFERINGS
20.11 VTS GROUP
- 20.11.1 BUSINESS OVERVIEW
- 20.11.2 PRODUCT OFFERINGS
20.12 NUAIRE
- 20.12.1 BUSINESS OVERVIEW
- 20.12.2 PRODUCT OFFERINGS
20.13 NORTEK
- 20.13.1 BUSINESS OVERVIEW
- 20.13.2 PRODUCT OFFERINGS
20.14 HITACHI
- 20.14.1 BUSINESS OVERVIEW
- 20.14.2 PRODUCT OFFERINGS
20.15 LU-VE
- 20.15.1 BUSINESS OVERVIEW
- 20.15.2 PRODUCT OFFERINGS
20.16 VENT-AXIA
- 20.16.1 BUSINESS OVERVIEW
- 20.16.2 PRODUCT OFFERINGS
20.17 ROSENBERG
- 20.17.1 BUSINESS OVERVIEW
- 20.17.2 PRODUCT OFFERINGS
20.18 S & P
- 20.18.1 BUSINESS OVERVIEW
- 20.18.2 PRODUCT OFFERINGS
20.19 WOLF
- 20.19.1 BUSINESS OVERVIEW
- 20.19.2 PRODUCT OFFERINGS
20.20 CIAT
- 20.20.1 BUSINESS OVERVIEW
- 20.20.2 PRODUCT OFFERINGS
20.21 AL-KO GROUP
- 20.21.1 BUSINESS OVERVIEW
- 20.21.2 PRODUCT OFFERINGS
20.22 DYNAIR
- 20.22.1 BUSINESS OVERVIEW
- 20.22.2 PRODUCT OFFERINGS
20.23 DANFOSS
- 20.23.1 BUSINESS OVERVIEW
- 20.23.2 PRODUCT OFFERINGS
20.24 LENNOX
- 20.24.1 BUSINESS OVERVIEW
- 20.24.2 PRODUCT OFFERINGS
20.25 BACKER SPRINGFIELD
- 20.25.1 BUSINESS OVERVIEW
- 20.25.2 PRODUCT OFFERINGS
20.26 DUNHAMBUSH
- 20.26.1 BUSINESS OVERVIEW
- 20.26.2 PRODUCT OFFERINGS
20.27 TCL
- 20.27.1 BUSINESS OVERVIEW
- 20.27.2 PRODUCT OFFERINGS
20.28 TROX
- 20.28.1 BUSINESS OVERVIEW
- 20.28.2 PRODUCT OFFERINGS
20.29 VAILLANT GROUP
- 20.29.1 BUSINESS OVERVIEW
- 20.29.2 PRODUCT OFFERINGS
20.30 VIESSMANN GROUP
- 20.30.1 BUSINESS OVERVIEW
- 20.30.2 PRODUCT OFFERINGS
20.31 STIEBEL ELTRON
- 20.31.1 BUSINESS OVERVIEW
- 20.31.2 PRODUCT OFFERINGS
20.32 NIBE GROUP
- 20.32.1 BUSINESS OVERVIEW
- 20.32.2 PRODUCT OFFERINGS
20.33 UPONOR CORPORATION
- 20.33.1 BUSINESS OVERVIEW
- 20.33.2 PRODUCT OFFERINGS
20.34 GLEN DIMPLEX
- 20.34.1 BUSINESS OVERVIEW
- 20.34.2 PRODUCT OFFERINGS
20.35 FERROLI
- 20.35.1 BUSINESS OVERVIEW
- 20.35.2 PRODUCT OFFERINGS
20.36 ELCO BURNERS
- 20.36.1 BUSINESS OVERVIEW
- 20.36.2 PRODUCT OFFERINGS
20.37 BDR THERMEA GROUP
- 20.37.1 BUSINESS OVERVIEW
- 20.37.2 PRODUCT OFFERINGS
20.38 BIDDLE AIR SYSTEMS
- 20.38.1 BUSINESS OVERVIEW
- 20.38.2 PRODUCT OFFERINGS
20.39 RIELLO GROUP
- 20.39.1 BUSINESS OVERVIEW
- 20.39.2 PRODUCT OFFERINGS
20.40 INGERSOLL RAND
- 20.40.1 BUSINESS OVERVIEW
- 20.40.2 PRODUCT OFFERINGS
20.41 CAMFIL
- 20.41.1 BUSINESS OVERVIEW
- 20.41.2 PRODUCT OFFERINGS

21 REPORT SUMMARY

21.1 KEY TAKEAWAYS
21.2 STRATEGIC RECOMMENDATIONS

22 QUANTITATIVE SUMMARY

22.1 MARKET BY GEOGRAPHY
- 22.1.1 EQUIPMENT: MARKET SIZE & FORECAST
- 22.1.2 HEATING MARKET SIZE & FORECAST
- 22.1.3 AIR CONDITIONER MARKET SIZE & FORECAST
- 22.1.4 VENTILATION MARKET SIZE & FORECAST
- 22.1.5 END-USER: MARKET SIZE & FORECAST

23 APPENDIX

23.1 RESEARCH METHODOLOGY
23.2 RESEARCH PROCESS
23.3 REPORT ASSUMPTIONS & CAVEATS
- 23.3.1 KEY CAVEATS
- 23.3.2 CURRENCY CONVERSION
23.4 ABBREVIATIONS