Europe HVAC Chillers Market is expected to reach US$ 2,404.48 million by 2028

Screw Chillers Segment to Dominate Europe HVAC Chillers Market During 2021–2028 

Countries in Europe, especially France and Russia, are highly affected due to the COVID-19 outbreak. The COVID-19 pandemic had a greater impact on European industries than the 2008–2009 industrial crisis. The industrial sector in the region reported lower production levels in 2020 than those recorded in 2019. Several industries in Europe faced downfall in the second quarter of 2020, compared with second quarter of 2019. The pandemic reduced operations of the construction sector in the region, which involves commercial and industrial construction. Disrupted supply chains along with high demand from food & beverage facilities across the regions are expected to be a few of the major effects across the Europe HVAC chillers market. Currently, the Germany HVAC chillers market is the most impacted market by the COVID-19 outbreak, followed by France, the UK, and Italy. Owing to the implementation of containment measures such as restrictions on travel, shutdown of manufacturing facilities and businesses in the region the slewing bearing market witness a crunch from supply side. Moreover, containment measures adversely affected the operations of end users of HVAC chillers, which subsequently reduced the demand for the chillers. However, as the measures are relaxed, the HVAC chillers market started witnessing growth from the Q1 of 2021.

The Europe HVAC chillers market is segmented based on technology, type, application, and country. The market, based on technology, is segmented into air-cooled, water-cooled, and steam-fired.  The air-cooled segment dominated the market in 2020 and water-cooled segment is expected to be fastest growing during forecast period. On the basis of type, the market is segmented into process chillers, scroll chillers, screw chillers, centrifugal chillers, and absorption chillers. The screw chillers segment dominated the market in 2020 and absorption chillers segment is expected to be fastest growing during forecast period. The market, by application, is segmented into commercial, industrial, and residential. The industrial segment dominated the market in 2020 and commercial segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.

AIREDALE INTERNATIONAL AIR CONDITIONING LTD.; Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Johnson Controls, Inc.; Kaltra; LG Electronics; Mitsubishi Electric Corporation; and Trane are among the leading companies in the Europe HVAC chillers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Carrier Global Corporation’s growing portfolio of solutions is helping it to enhance its presence in China. The company has introduced the latest version of the AquaEdge 19DV water-cooled centrifugal chiller.