Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Europe Air Conditioning Market Forecast Report by Equipment End User, Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Europe Air Conditioning Market size will surpass US$ 40.79 billion by 2032 from US$ 29.08 billion in 2023, with a CAGR of 3.83% from 2024 to 2032
Growing urbanization, rising temperatures brought on by climate change, and expanding consumer awareness of indoor air quality and comfort are the main factors propelling this industry. The market dynamics are being shaped by important trends like energy efficiency requirements and technology breakthroughs like eco-friendly refrigerants and smart HVAC systems. 
The production, distribution, and installation of equipment meant to regulate indoor temperature, humidity, and air quality are all included in the Europe air conditioning market. It covers a broad spectrum of goods, from sophisticated HVAC (heating, ventilation, and air conditioning) systems used in commercial and industrial buildings to simple window units for homes. Air conditioners, heat pumps, ventilation systems, and related controls and accessories are important elements of this sector.
Climate trends, economic expansion, technical developments, and laws promoting environmental sustainability and energy efficiency are some of the drivers driving the industry. There is fierce competition in the market, and businesses are always coming up with new ideas to increase consumer comfort, lower their environmental effect, and increase energy efficiency. In general, the global residential, commercial, and industrial sectors rely heavily on the air conditioning market to improve indoor air quality and provide thermal comfort.
Driving Forces of Europe Air Conditioning Market
Heatwaves and Climate Drive the European Air Conditioning Market:
In Europe, air conditioning units are commonly installed and utilized in office buildings. Finding air conditioners in houses is difficult, though. Many of the region's cities are not built to withstand the extreme heat, and some historically significant structures aren't even permitted to have contemporary air conditioning installed. Therefore, most residential and commercial buildings in European countries use portable cooling units as a result of these considerations. In addition, in order to improve energy efficiency, the HVAC sector changes heating and cooling systems on a regular basis. These developments boost energy efficiency, assist households in mitigating climate change, and safeguard the environment.
As a result, the need for air conditioners in both homes and businesses is boosted by the rising temperatures. The International Energy Agency (IEA) projected in 2021 that as record heat becomes more common, the stock of air conditioners in Europe would double in the next 20 years.
Effective Government Policies throughout the Countries:
Europe's HVAC market is being driven by the continent's supportive government policies that encourage the use of renewable energy sources (RES) and limit greenhouse gas emissions into the atmosphere. Additionally, policymakers are attempting to formulate measures that can facilitate the management of the power sector and the decarbonization of transportation. The use of renewable energy appliances may eventually become required for large-scale projects in order to receive certification as green and sustainable building units. The adoption of HVAC systems in homes and big business areas may be significantly accelerated by this.
France Air Conditioning Market
Due to France's intention to replace gas and fuel heaters in homes with heat pumps and to establish a manufacturing sector for the device in an effort to cut greenhouse gas emissions, the market is anticipated to grow rapidly. As part of a multiyear environmental plan, the government intends to promote heat pumps as a means of providing residential heating.
There are about 27 heat pump manufacturers in the nation, and the government is concentrating on raising heat pump output to meet the rising demand, which will propel the market's expansion even further. For example, the French government declared in April 2024 that the nation had to manufacture one million heat pumps by the end of 2027. There are two main components to the government's proposal. First off, the government will keep running several programs like ''MaPrimeRenov'' and energy-saving certificates to assist people in buying heat pumps.
Second, in keeping with Europe's newfound willingness to support vital green industries, the government will directly assist manufacturers. Under the French proposal, investment help up to EUR 200 million (USD 213.41 million) per factory will be provided through tax benefits to stimulate industrial construction.
Europe Air Conditioning Company News:
- April 2024: In order to improve customer satisfaction, Toshiba Carrier UK introduced embedded building management solutions with centralized HVAC system control and monitoring.
- April 2024: Announcing the debut of the Stand by Me Certified Partner program, Daikin Industries Ltd. expands on the Daikin Academy, which provides current Daikin training. Through the program, installers can earn certification as partners and get training on safe and high-quality installation practices.
- January 2024: The release of Mitsubishi Electric Europe BV's domestic air-to-water heat pumps was announced. When the outside temperature drops to -25C, the company's Hydrolution EZY monoblock can still generate hot water at up to 60C. There are two power options for it: 10 kW and 14 kW.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $29.08 Billion |
| Forecasted Market Value (USD) by 2032 | $40.79 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Europe |
Key Players Analysis: Overview, Recent Developments, Product Portfolio, Financial Insights
- Daikin Industries Ltd
- Robert Bosch GmbH
- Mitsubishi Electric Europe BV
- Danfoss A/S
- Lennox International Inc
- Carrier Corporation
- Hitachi Ltd
- Panasonic Corporation
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Europe Air Conditioning Market
6. Market Share
6.1 Equipment
6.2 End User
6.3 Country
7. Equipment
7.1 Air Conditioning/Ventilation Equipment
7.1.1 Single Split/Multi-Splits
7.1.2 Variable Refrigerant Flow (VRF)
7.1.3 Air Handling Units
7.1.4 Chillers
7.1.5 Fans Coils
7.1.6 Packaged and Rooftops
7.1.7 Other Air Conditioning/Ventilation Equipment
7.2 Heating Equipment
7.2.1 Boilers/Radiators/Furnace
7.2.2 Heat Pumps
8. End User
8.1 Residential
8.2 Commercial
8.3 Industrial
9. Europe
9.1 France
9.2 Germany
9.3 Italy
9.4 Spain
9.5 United Kingdom
9.6 Belgium
9.7 Netherlands
9.8 Turkey
10. Porter's Five Analysis
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/8qb9kj
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