Report : 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)

At 11.9% CAGR, the Europe HVAC System Market is speculated to be worth US$ 1,25,024.86 million by 2030, says Business Market Insights.

According to Business Market Insights' 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.

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