HVAC equipment market size in Europe to grow by USD 9.49 billion between 2022 and 2027; Increasing use of renewable energy sources for HVAC systems to be key trend – Technavio

NEW YORK, April 21, 2023 /PRNewswire/ — Technavio has been monitoring the HVAC equipment market in Europe, and it is expected to grow by USD 9.49 billion between 2022 and 2027. The market will progress at a CAGR of 5.16% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. Download Latest Sample PDF Report!

The increasing use of renewable energy sources for HVAC systems is identified as the key trend in the market. The use of renewable energy for HVAC systems is gaining prominence in both residential and commercial spaces. End-users are adopting renewable energy sources such as solar-powered space heating systems to cut down on the fuel costs incurred in heating. The system works in conjunction with the existing building heating system, such as an oil or gas-fired heater, or independently to provide heated air for indoor heating spaces. This hybrid system can also contribute to large-scale, cost-effective reductions in greenhouse gas emissions. With the growing concerns over the ecological damage caused by greenhouse gases, the demand for such systems will increase over the forecast period. All these factors will positively influence market growth.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, FlaktGroup Holding GmbH, Haier Smart Home Co. Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson and Johnson, LG Electronics Inc., LUVE Spa, MIDEA Group, Mitsubishi Electric Corp., Nortek Inc., OSTBERG GROUP AB, Panasonic Holdings Corp., Regal Rexnord Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Systemair AB, and Zehnder Group AG are some of the major market participants.

Although the growth in data centers fueling market growth will offer immense growth opportunities, the lack of skilled HVAC technicians will challenge the growth of market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The market is driven by the growth of data centers. Over the years, the number of data centers has increased substantially worldwide. Factors such as the ongoing migration of data from private servers to cloud-based solutions, industrial development, increased demand for colocation facilities, especially from SMEs, and rising investments in technologies increased the number of data centers. Data centers comprise highly sensitive electronic components that require stable operating temperature, humidity, airflow, and cleanliness to prevent equipment failure. Thus, with the growing number of data centers, the demand for HVAC equipment will grow significantly over the forecast period.

HVAC Equipment Market in Europe 2023-2027: Segmentation

• Product 
• Air Conditioning Equipment
• Heating Equipment
• Ventilation Equipment
• End-user 
• Non-residential
• Residential

The market growth in the air conditioning equipment segment will be significant over the forecast period. Air conditioning equipment plays an important role in changing the indoor environment, especially in hot and dry climates, and is a vital part of the infrastructure that supports modern spaces. The demand for air conditioning equipment is increasing, with the expanding construction industry, deregulation in the real estate and construction sector, and increasing air conditioning maintenance requirements.

To learn more about the global market trends impacting the future of market research,
download a sample report.

HVAC Equipment Market in Europe 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our HVAC equipment market in Europe report covers the following areas:

• HVAC Equipment Market Size
• HVAC Equipment Market Trends
• HVAC Equipment Market Analysis
• HVAC Equipment Market Five Forces Analysis
• HVAC Equipment Market Competitive Landscape

HVAC Equipment Market in Europe 2023-2027: Major Challenge

The lack of skilled HVAC technicians will challenge the growth of the HVAC equipment market in Europe. The market is currently witnessing a growing shortage of skilled manpower among HVAC contractors, and this is expected to continue over the forecast period. The expanding gap in the supply of skilled workers has led countries such as Germany to ease their migration laws to make it easier for skilled workers from outside the European Union to move to Germany. However, the inability of workers to understand and operate advanced electronics and new technology prevents companies from achieving the desired results. Such challenges will reduce the growth potential of the market.

HVAC Equipment Market in Europe 2023-2027: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the HVAC equipment market in Europe, including some of the key vendors. Backed with competitive intelligence and benchmarking, our research report on the HVAC equipment market in Europe is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

• Carrier Global Corp. – The company offers HVAC equipment that includes air conditioners, furnaces, heat pumps, ductless systems, and evaporator coils.
• Daikin Industries Ltd. – The company offers HVAC equipment that includes air conditioning and refrigeration systems that are efficient, energy-saving, and cost-saving operations with advanced inverter and heat pump technologies.
• Danfoss AS – The company offers HVAC equipment that enhances air quality and indoor comfort levels, improves control and energy-saving possibilities, ensures better asset protection, reduces maintenance costs, and increases reliability.
• Haier Smart Home Co. Ltd. – The company offers HVAC equipment that is used for chiller plant optimization, cooling tower optimization, boiler control, and airflow control.
• FlaktGroup Holding GmbH
• Honeywell International Inc.
• Ingersoll Rand Inc.
• Johnson and Johnson
• LUVE Spa
• MIDEA Group
• Mitsubishi Electric Corp.
• Nortek Inc.
• OSTBERG GROUP AB
• Panasonic Holdings Corp.
• Regal Rexnord Corp.

Gain instant access to 17,000+ market research reports, Subscribe to our Basic Plan
billed annually at USD 5000.
Technavio’s SUBSCRIPTION platform

HVAC Equipment Market in Europe 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist HVAC equipment market growth in Europe during the next five years
• Estimation of the HVAC equipment market size in Europe and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the HVAC equipment market in Europe
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of HVAC equipment market vendors in Europe

Related Reports:

The HVAC systems market in India is expected to grow by USD 2.77 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.97%. The market is segmented by product (split AC, window AC, and others) and application (non-residential and residential).

The HVAC equipment market in North America is expected to grow by USD 10.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.15%. The market is segmented by product (air conditioning equipment, heating equipment, and ventilation equipment) and end-user (non-residential and residential).

Browse through Technavio’s Industrials Market Reports

Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Regional – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Europe: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Regional – Market size and forecast 2022-2027 ($ billion)

4 Historic Market Size

• 4.1 HVAC equipment market in Europe 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on HVAC equipment market in Europe 2017 – 2021 ($ billion)

• 4.2 By Product Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – By Product Segment 2017 – 2021 ($ billion)

• 4.3 By end-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – By end-user Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 22: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 28: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 29: Chart on Product – Market share 2022-2027 (%)
• Exhibit 30: Data Table on Product – Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 31: Chart on Comparison by Product
• Exhibit 32: Data Table on Comparison by Product

• 6.3 Air conditioning equipment – Market size and forecast 2022-2027 
• Exhibit 33: Chart on Air conditioning equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Air conditioning equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Air conditioning equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Air conditioning equipment – Year-over-year growth 2022-2027 (%)

• 6.4 Heating equipment – Market size and forecast 2022-2027 
• Exhibit 37: Chart on Heating equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Heating equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Heating equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Heating equipment – Year-over-year growth 2022-2027 (%)

• 6.5 Ventilation equipment – Market size and forecast 2022-2027 
• Exhibit 41: Chart on Ventilation equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 42: Data Table on Ventilation equipment – Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Chart on Ventilation equipment – Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Ventilation equipment – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 45: Market opportunity by Product ($ billion)
• Exhibit 46: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 47: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 48: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 49: Chart on Comparison by End-user
• Exhibit 50: Data Table on Comparison by End-user

• 7.3 Non-residential – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Non-residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Non-residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Non-residential – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Non-residential – Year-over-year growth 2022-2027 (%)

• 7.4 Residential – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Residential – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Residential – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Residential – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 59: Market opportunity by End-user ($ billion)
• Exhibit 60: Data Table on Market opportunity by End-user ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 62: Chart on Market share by geography – 2022-2027 (%)
• Exhibit 63: Data Table on Market share by geography – 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 64: Chart on Geographic comparison
• Exhibit 65: Data Table on Geographic comparison

• 9.3 Germany – Market size and forecast 2022-2027 
• Exhibit 66: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 69: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.4 UK – Market size and forecast 2022-2027 
• Exhibit 70: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 73: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.5 France – Market size and forecast 2022-2027 
• Exhibit 74: Chart on France – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Data Table on France – Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 77: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.6 Italy – Market size and forecast 2022-2027 
• Exhibit 78: Chart on Italy – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Data Table on Italy – Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Chart on Italy – Year-over-year growth 2022-2027 (%)
• Exhibit 81: Data Table on Italy – Year-over-year growth 2022-2027 (%)

• 9.7 Rest of Europe – Market size and forecast 2022-2027 
• Exhibit 82: Chart on Rest of Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Data Table on Rest of Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Chart on Rest of Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 85: Data Table on Rest of Europe – Year-over-year growth 2022-2027 (%)

• 9.8 Market opportunity by geography 
• Exhibit 86: Market opportunity by geography ($ billion)
• Exhibit 87: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 88: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 89: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 90: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 91: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 92: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 93: Matrix on vendor position and classification

• 12.3 Carrier Global Corp.
• Exhibit 94: Carrier Global Corp. – Overview
• Exhibit 95: Carrier Global Corp. – Business segments
• Exhibit 96: Carrier Global Corp. – Key news
• Exhibit 97: Carrier Global Corp. – Key offerings
• Exhibit 98: Carrier Global Corp. – Segment focus

• 12.4 Daikin Industries Ltd. 
• Exhibit 99: Daikin Industries Ltd. – Overview
• Exhibit 100: Daikin Industries Ltd. – Business segments
• Exhibit 101: Daikin Industries Ltd. – Key news
• Exhibit 102: Daikin Industries Ltd. – Key offerings
• Exhibit 103: Daikin Industries Ltd. – Segment focus

• 12.5 Danfoss AS
• Exhibit 104: Danfoss AS – Overview
• Exhibit 105: Danfoss AS – Business segments
• Exhibit 106: Danfoss AS – Key news
• Exhibit 107: Danfoss AS – Key offerings
• Exhibit 108: Danfoss AS – Segment focus

• 12.6 Haier Smart Home Co. Ltd. 
• Exhibit 109: Haier Smart Home Co. Ltd. – Overview
• Exhibit 110: Haier Smart Home Co. Ltd. – Business segments
• Exhibit 111: Haier Smart Home Co. Ltd. – Key offerings
• Exhibit 112: Haier Smart Home Co. Ltd. – Segment focus

• 12.7 Honeywell International Inc. 
• Exhibit 113: Honeywell International Inc. – Overview
• Exhibit 114: Honeywell International Inc. – Business segments
• Exhibit 115: Honeywell International Inc. – Key news
• Exhibit 116: Honeywell International Inc. – Key offerings
• Exhibit 117: Honeywell International Inc. – Segment focus

• 12.8 Ingersoll Rand Inc.
• Exhibit 118: Ingersoll Rand Inc. – Overview
• Exhibit 119: Ingersoll Rand Inc. – Business segments
• Exhibit 120: Ingersoll Rand Inc. – Key offerings
• Exhibit 121: Ingersoll Rand Inc. – Segment focus

• 12.9 Johnson and Johnson
• Exhibit 122: Johnson and Johnson – Overview
• Exhibit 123: Johnson and Johnson – Business segments
• Exhibit 124: Johnson and Johnson – Key news
• Exhibit 125: Johnson and Johnson – Key offerings
• Exhibit 126: Johnson and Johnson – Segment focus

• 12.10 LG Electronics Inc.
• Exhibit 127: LG Electronics Inc. – Overview
• Exhibit 128: LG Electronics Inc. – Product / Service
• Exhibit 129: LG Electronics Inc. – Key offerings

• 12.11 Mitsubishi Electric Corp. 
• Exhibit 130: Mitsubishi Electric Corp. – Overview
• Exhibit 131: Mitsubishi Electric Corp. – Business segments
• Exhibit 132: Mitsubishi Electric Corp. – Key news
• Exhibit 133: Mitsubishi Electric Corp. – Key offerings
• Exhibit 134: Mitsubishi Electric Corp. – Segment focus

• 12.12 OSTBERG GROUP AB
• Exhibit 135: OSTBERG GROUP AB – Overview
• Exhibit 136: OSTBERG GROUP AB – Product / Service
• Exhibit 137: OSTBERG GROUP AB – Key offerings

• 12.13 Panasonic Holdings Corp. 
• Exhibit 138: Panasonic Holdings Corp. – Overview
• Exhibit 139: Panasonic Holdings Corp. – Business segments
• Exhibit 140: Panasonic Holdings Corp. – Key news
• Exhibit 141: Panasonic Holdings Corp. – Key offerings
• Exhibit 142: Panasonic Holdings Corp. – Segment focus

• 12.14 Robert Bosch GmbH
• Exhibit 143: Robert Bosch GmbH – Overview
• Exhibit 144: Robert Bosch GmbH – Business segments
• Exhibit 145: Robert Bosch GmbH – Key news
• Exhibit 146: Robert Bosch GmbH – Key offerings
• Exhibit 147: Robert Bosch GmbH – Segment focus

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 148: Samsung Electronics Co. Ltd. – Overview
• Exhibit 149: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 150: Samsung Electronics Co. Ltd. – Key news
• Exhibit 151: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 152: Samsung Electronics Co. Ltd. – Segment focus

• 12.16 Systemair AB
• Exhibit 153: Systemair AB – Overview
• Exhibit 154: Systemair AB – Business segments
• Exhibit 155: Systemair AB – Key offerings
• Exhibit 156: Systemair AB – Segment focus

• 12.17 Zehnder Group AG
• Exhibit 157: Zehnder Group AG – Overview
• Exhibit 158: Zehnder Group AG – Business segments
• Exhibit 159: Zehnder Group AG – Key offerings
• Exhibit 160: Zehnder Group AG – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 161: Inclusions checklist
• Exhibit 162: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 163: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 164: Research methodology
• Exhibit 165: Validation techniques employed for market sizing
• Exhibit 166: Information sources

• 13.5 List of abbreviations 
• Exhibit 167: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/hvac-equipment-market-size-in-europe-to-grow-by-usd-9-49-billion-between-2022-and-2027-increasing-use-of-renewable-energy-sources-for-hvac-systems-to-be-key-trend—technavio-301803193.html

SOURCE Technavio

PR Newswire Technology News