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HVAC Market in Europe - Industry Outlook and Forecast 2020-2025

  • ID: 5116488
  • Report
  • June 2020
  • Region: Europe
  • 232 pages
  • Arizton
UP TO OFF
until Aug 15th 2021

FEATURED COMPANIES

  • Aldes
  • Carrier
  • Grundfos
  • LG
  • Nortek
  • Raytheon Technologies
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Europe HVAC Market Report

The HVAC market in Europe is expected to grow at a CAGR of over 6% during the period 2019-2025.

The heating, ventilation, and air conditioning (HVAC) market in Europe is expected to face volatility in the HVAC industry owing to various equipment it produces by sourcing raw materials from several low-cost countries, especially China. The supply chain aspect of the industry in Q1 & Q2 of 2020 was profoundly affected by the outbreak of the COVID-19 pandemic. The growth rates have been truncated on account of COVID-19. Taking into account the probable impact, the growth estimates are expected to be down by 2% to 3%. The growth estimates for the residential sector and small commercial sectors are also likely to be impacted. The challenges are majorly from the demand side, with a varying degree of demand fluctuation across countries. With the HVAC system being a major cost factor in buildings, constituting around 15% to 20%, the impact is expected to be severe in 2020. There is no uniformity in the demand across countries and depends on the fiscal stimulus, the containment of COVID-19 spread, and the recovery of the construction industry (new and refurbishment).

The following factors are likely to contribute to the growth of the HVAC market in Europe during the forecast period:
  • Industry Consolidation Post COVID-19
  • Airport Modernization
  • Growth of VRF Systems
The study considers the present scenario of the HVAC market in Europe and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

HVAC Market in Europe: Segmentation

The research report on HVAC market in Europe includes a detailed segmentation by equipment, application, and geography. The heating equipment market is characterized by intense competition. Heating products have witnessed high traction in colder climatic conditions of Europe. With a rapid rise in the requirement of more advanced heating equipment and less energy consumption, the market has seen an influx of Asia Pacific companies in the European market. The heat equipment segment is further categorized into heat pumps, furnace, and boiler units. Heat pumps are the major revenue generator for the heating market. The heat pump segment is mainly strong in nuclear families, with a penetration rate of over 70%. Boilers have the highest demand in Europe. In terms of production and demand, the region is still one of the leading markets for high-efficiency boilers.

Currently, the demand for HVAC systems from the residential sector is expected to be adversely affected by the COVID-19 outbreak. The new equipment and replacement demand are likely to be impacted, as consumers are looking to cut down on non-essential purchases. The residential HVAC market is likely to be truncated with growth rates witnessing a reduction. Air purifier filters are expected to face higher challenges, and also other products that are dependent on replacement demand more than new demand. The demand from Germany, France, UK, Russia, is also expected to witness challenging market conditions. However, post Q4 of 2020, the market is likely to pick up traction mainly driven by smaller countries with low impact of COVID-19. Although Nordic and Eastern Europe are less impacted, the recovery in the market conditions of Western Europe will have substantial bearings on the margins of the vendors in the HVAC industry.

The HVAC market end-users in the commercial sector are going through a rough phase concerning demand; hence their spending on HVAC modernization or service and maintenance is expected to decline by 2020. The renewal of contracts between service providers and customers is expected to be delayed and impacted by the HVAC market. However, post-2020, the market stabilization based on economic and financial stimulus is likely to be stable, although some countries will take more time for recovery. The European HVAC market is strong in Western Europe, where investment in infrastructure development is high. The market in Southern Europe is expected to grow decently without any steep uptrend or downtrend.

Segmentation by Equipment
  • Heating
  • Heat Pump
  • Boiler Units
  • Furnaces
  • Others
  • Air Conditioning
  • RAC
  • CAC
  • Chillers
  • Heat Exchanges
  • Others
  • Ventilation
  • Air Handling Units
  • Air filters
  • Humidifiers & Dehumidifiers
  • Fan Coil Units
  • Others
Segmentation by Application
  • Residential
  • Commercial
  • Airports &Public
  • Office Spaces
  • Hospitality
  • Hospitals
  • Industrial & Others
Insights By Geography

Western Europe is currently facing several restraints on account of the uncertainty due to the COVID-19 crisis and strong lockdown measures. Italy, Germany, and the UK have strongly been impacted by the virus and are facing enormous economic challenges. Apart from the construction industry is profoundly affected by projects coming to a standstill, the replacement demand from existing buildings is also taken a hit. Air conditioning systems lead the Western Europe market as the temperature rises in urban cities on account of pollution, urbanization, and global warming. The application of HVAC systems in Germany is expected to be higher in non-residential units such as hospitals, public offices, and public utilities centers during the period 2020-2025. In Germany, centralized air conditioning solutions are growing in demand by way of chillers and VRF systems. However, in many places, the VRF systems are replacing chillers. Moreover, the impact of COVID-19 during the Q1 2020 has increased safety concerns and demand for quality air among people in Germany.

Segmentation by Geography
  • Western Europe
  • UK
  • Germany
  • France
  • Italy
  • Netherlands
  • Nordic
  • Norway
  • Denmark
  • Sweden
  • Others
  • Central & Eastern Europe
  • Russia
  • Poland & Austria
  • Others
Insights By Vendors

The HVAC market in Europe before the outbreak of COVID-19 was going through a transition period, which was mainly on three fronts - regulations, technological upheaval, and construction industry rebound in many countries. In the post-COVID-19 outbreak, the industry is witnessing a financial turmoil. The need for efficient HVAC has increased in Europe primarily driven by EU directions, objectives, and targets on the same. This has also affected the consumer trends with awareness on HVAC equipment, which have low lifecycle costs fueling higher demand in the HVAC market in Europe.

Prominent Vendors
  • Systemair
  • Johnson Controls
  • Zehnder
  • Ostberg
  • Aldes
  • Bosch
  • Daikin
  • Samsung
  • Mitsubishi Electric
Other Prominent Vendors
  • LG
  • Panasonic
  • Carrier
  • Midea
  • Regal
  • Raytheon Technologies
  • Honeywell
  • Flakt Group
  • Beijer Ref
  • Flexit
  • Grundfos
  • Swegon
  • VTS
  • Nuaire
  • Nortek
  • Alfa Laval
  • Hitachi
  • Lu-Ve
Key Questions Answered?
1. What is the market size of HVAC market in Europe and growth forecast?
2. What is the market size of the Residential HVAC system market in Europe?
3. What are some of the growth factors impacting the heating, ventilation, and air conditioning market?
4. What is the growth projection of the HVAC market in Europe in the commercial segment by 2025?
5. How is the COVID-19 pandemic significantly impacting the market growth of HVAC systems?
6. Who are the prominent players in the HVAC industry, and how are their market shares growing during the forecast period?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aldes
  • Carrier
  • Grundfos
  • LG
  • Nortek
  • Raytheon Technologies
1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 COVID-19 Impact
7.3 Risk Management:
7.4 Profit Margins
7.5 Environmentally Friendly HVAC
7.6 Residential Constructions
7.7 Non-Residential Constructions

8 Market Opportunities & Trends
8.1 End-User Variability
8.2 Industry Consolidation Post COVID-19

9 Market Growth Enablers
9.1 Construction Industry
9.2 Airport Modernization
9.3 Growing Variable Refrigerant Flow (VRF) Systems

10 Market Restraints
10.1 Lack Of Skilled Labor
10.2 Heightened Regulations
10.3 Vulnerability To Covid-19

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis

12 Equipment
12.1 Market Snapshot & Growth Engine
12.2 Market Overview

13 Heating
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Market Size & Forecast
13.4 Heat Pump
13.5 Boiler Unit
13.6 Furnace
13.7 Others

14 Air Conditioning
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Key Takeaways
14.4 Market Size & Forecast
14.5 RAC
14.6 CAC
14.7 Chillers
14.8 Heat Exchanger
14.9 Others

15 Ventilation
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Market Size & Forecast
15.4 Air Handling Units
15.5 Air Filters
15.6 Humidifier & Dehumidifiers
15.7 Fan Coil Unit
15.8 Others

16 Application
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Residential
16.4 Commercial

17 Geography
17.1 Market Snapshot & Growth Engine
17.2 Geographic Overview

18 Western Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Equipment
18.4 Application
18.5 Key Countries

19 Nordic
19.1 Market Overview
19.2 Market Size & Forecast
19.3 Equipment
19.4 Application
19.5 Key Countries

20 Central & Eastern Europe (CEE)
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Equipment
20.4 Application
20.5 Key Countries

21 Competitive Landscape
21.1 Competition Overview

22 Prominent Company Profiles
22.1 Systemair
22.2 Johnson Controls
22.3 Zehnder
22.4 Ostberg
22.5 ALDES
22.6 BOSCH
22.7 DAIKIN
22.8 Samsung
22.9 Mitsubishi Electric
22.10 LG
22.11 Panasonic
22.12 Carrier
22.13 Midea
22.14 REGAL
22.15 Raytheon Technologies
22.16 Honeywell
22.17 Flakt Group
22.18 Beijer REF
22.19 FLEXIT
22.2 GRUNDFOS
22.21 SWEGON
22.22 VTS
22.23 Nuaire
22.24 Nortek
22.25 ALFA LAVAL
22.26 Hitachi
22.27 LU-VE

23 Other Prominent Vendors
23.1 Vent-Axia
23.2 ROSENBERG
23.3 S & P
23.4 Wolf
23.5 Ciat
23.6 AL-KO
23.7 Dynair
23.8 Danfoss
23.9 Lennox
23.10 Backer Springfield
23.11 Dunham Bush
23.12 TCL
23.13 Trox
23.14 Vaillant Group
23.15 Ingersoll Rand
23.16 Camfil
23.17 Onda

24 Report Summary
24.1 Key Takeaways
24.2 Strategic Recommendations

25 Quantitative Summary
25.1 Market By Geography
25.2 Market By Western Europe
25.3 Market By Nordic
25.4 Market By Central & Eastern Europe
25.5 Market By Equipment
25.6 Market By Heating Equipment
25.7 Market By AC Equipment
25.8 Market By Ventilation Equipment
25.9 Market By Application
25.10 Market By Commercial Application

26 Appendix
26.1 Abbreviations

List Of Exhibits
Exhibit 1 Segmentation of HVAC Market in Europe
Exhibit 2 Market Size Calculation Approach 2019
Exhibit 3 Changing Trends
Exhibit 4 Quarterly Review of the Market in 2020
Exhibit 5 Policy Framework
Exhibit 6 Impact of End-user Variability
Exhibit 7 Impact of Industry Consolidation Post COVID-19
Exhibit 8 Impact of the Construction Industry
Exhibit 9 Impact of Airport Modernization
Exhibit 10 International Passenger Traffic Growth in March 2018 (YoY)
Exhibit 11 Impact of Growing VRF Systems
Exhibit 12 Impact of Lack of Skilled Labor
Exhibit 13 Impact of Heightened Regulations
Exhibit 14 Impact of Vulnerability to COVID-19
Exhibit 15 HVAC Market in Europe 2019–2025 ($ billion)
Exhibit 16 Five Forces Analysis 2019
Exhibit 17 Incremental Growth by Equipment 2019 & 2025
Exhibit 18 Incremental Growth by Heating Equipment 2019 & 2025
Exhibit 19 Growth Momentum & Market Share
Exhibit 20 Heating Equipment Market in Europe 2019–2025 ($ million)
Exhibit 21 Heat Pump Market in Europe 2019–2025 ($ billion)
Exhibit 22 Boiler Unit Market in Europe 2019–2025 ($ billion)
Exhibit 23 Furnace Market in Europe 2019–2025 ($ billion)
Exhibit 24 Other Heating Equipment Market in Europe 2019–2025 ($ billion)
Exhibit 25 Incremental Growth by Air Conditioning Equipment 2019 & 2025
Exhibit 26 Air Conditioning Market in Europe 2019–2025 ($ billion)
Exhibit 27 RAC Market in Europe Market 2019–2025 ($ billion)
Exhibit 28 CAC Market in Europe 2019–2025 ($ billion)
Exhibit 29 Chillers Market in Europe 2019–2025 ($ billion)
Exhibit 30 Heat Exchanger Market In Europe 2019–2025 ($ billion)
Exhibit 31 Other Air Conditioning Equipment Market in Europe 2019–2025 ($ billion)
Exhibit 32 Incremental Growth by Ventilation Equipment 2019 & 2025
Exhibit 33 Absolute Growth by Ventilation Equipment 2019-2025 (%)
Exhibit 34 Ventilation Market in Europe 2019–2025 ($ billion)
Exhibit 35 Air Handling Unit Market in Europe 2019–2025 ($ billion)
Exhibit 36 Air Filter Market in Europe 2019–2025 ($ billion)
Exhibit 37 Humidifiers & Dehumidifiers Market in Europe 2019–2025 ($ billion)
Exhibit 38 Fan Coil Unit Market in Europe 2019–2025 ($ billion)
Exhibit 39 Other Ventilation Equipment Market in Europe 2019–2025 ($ billion)
Exhibit 40 Incremental Growth by Application 2019 & 2025
Exhibit 41 Key Insights
Exhibit 42 Residential Sector HVAC Market in Europe 2019–2025 ($ billion)
Exhibit 43 Incremental Growth by Commercial Application 2019 & 2025
Exhibit 44 Commercial Sector HVAC Market in Europe 2019–2025 ($ billion)
Exhibit 45 HVAC Market in Europe by Office Spaces 2019–2025 ($ billion)
Exhibit 46 HVAC Market in Europe by Airports & Public Utilities 2019–2025 ($ billion)
Exhibit 47 HVAC Market in Europe by Hospitality Sector 2019–2025 ($ billion)
Exhibit 48 HVAC Market in Europe by Hospital Sector 2019–2025 ($ billion)
Exhibit 49 HVAC Market in Europe by Industrial and Others 2019–2025 ($ billion)
Exhibit 50 Incremental Growth by Geography 2019 & 2025
Exhibit 51 GDP Forecast – Prior and Post COVID-19
Exhibit 52 HVAC Market in Western Europe 2019–2025 ($ billion)
Exhibit 53 Incremental Growth in Western Europe 2019 & 2025
Exhibit 54 HVAC Market in Germany 2019–2025 ($ billion)
Exhibit 55 HVAC Market in France 2019–2025 ($ billion)
Exhibit 56 HVAC Market in UK 2019–2025 ($ billion)
Exhibit 57 Consumption of HVAC Equipment in Construction Industry in 2019
Exhibit 58 HVAC Market in Italy 2019–2025 ($ billion)
Exhibit 59 HVAC Market in Netherlands 2019–2025 ($ billion)
Exhibit 60 HVAC Market in Nordic 2019–2025 ($ billion)
Exhibit 61 Incremental Growth in Nordic 2019 & 2025
Exhibit 62 HVAC Market in Norway 2019–2025 ($ billion)
Exhibit 63 HVAC Market in Denmark 2019–2025 ($ billion)
Exhibit 64 HVAC Market in Sweden 2019–2025 ($ billion)
Exhibit 65 HVAC Market in Other Countries of Nordic 2019–2025 ($ billion)
Exhibit 66 Growth Momentum in Central & Eastern Europe
Exhibit 67 HVAC Market in Central & Eastern Europe 2019–2025 ($ billion)
Exhibit 68 Incremental Growth in Central & Eastern Europe 2019 & 2025
Exhibit 69 HVAC Market in Russia 2019–2025 ($ billion)
Exhibit 70 HVAC Market in Poland and Austria 2019–2025 ($ billion)
Exhibit 71 HVAC Market in Other Countries of Central & Eastern Europe 2019–2025 ($ billion)

List Of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2019
Table 3 Heating Equipment Market by Geography 2019−2025 ($ billion)
Table 4 Heating Market by Equipment 2019−2025 ($ billion)
Table 5 Air Conditioning Market by Geography 2019−2025 ($ billion)
Table 6 Air Conditioning Market by Equipment 2019−2025 ($ billion)
Table 7 Ventilation Market by Geography 2019−2025 ($ billion)
Table 8 Ventilation Market by Equipment 2019−2025 ($ billion)
Table 9 Residential Sector HVAC Market Geography 2019−2025 ($ million)
Table 10 Commercial Sector HVAC Market Geography 2019−2025 ($ million)
Table 11 HVAC Market by Equipment in Western Europe 2019−2025 ($ billion)
Table 12 HVAC Market by Application in Western Europe 2019−2025 ($ billion)
Table 13 HVAC Market by Equipment in Nordic 2019−2025 ($ billion)
Table 14 HVAC Market by Application in Nordic 2019−2025 ($ billion)
Table 15 HVAC Market by Equipment in Central & Eastern Europe 2019−2025 ($ billion)
Table 16 HVAC Market by Application in Central & Eastern Europe 2019−2025 ($ billion)
Table 17 Systemair: Major Product Offerings
Table 18 Johnson Controls: Major Product Offerings
Table 19 Zehnder: Major Product Offerings
Table 20 Ostberg: Major Product Offerings
Table 21 Aldes: Major Product Offerings
Table 22 Bosch: Major Product Offerings
Table 23 Daikin: Major Product Offerings
Table 24 Samsung: Major Product Offerings
Table 25 Mitsubishi Electric: Major Product Offerings
Table 26 LG: Major Product Offerings
Table 27 Panasonic: Major Product Offerings
Table 28 Carrier: Major Product Offerings
Table 29 Midea: Major Product Offerings
Table 30 Regal: Major Product Offerings
Table 31 Raytheon Technologies: Major Product Offerings
Table 32 Honeywell: Major Product Offerings
Table 33 Flakt Group: Major Product Offerings
Table 34 Beijer Ref: Major Product Offerings
Table 35 Flexit: Major Product Offerings
Table 36 Grundfos: Major Product Offerings
Table 37 Swegon: Major Product Offerings
Table 38 VTS: Major Product Offerings
Table 39 Nuaire: Major Product Offerings
Table 40 Nortek: Major Product Offerings
Table 41 Alfa Laval: Major Product Offerings
Table 42 Hitachi: Major Product Offerings
Table 43 Lu-Ve: Major Product Offerings
Table 44 Vent-Axia: Major Product Offerings
Table 45 Rosenberg: Major Product Offerings
Table 46 S & P: Major Product Offerings
Table 47 Wolf: Major Product Offerings
Table 48 CIAT: Major Product Offerings
Table 49 Al-Ko: Major Product Offerings
Table 50 Dynair: Major Product Offerings
Table 51 Danfoss: Major Product Offerings
Table 52 Lennox: Major Product Offerings
Table 53 Backer Springfield: Major Product Offerings
Table 54 Dunhambush: Major Product Offerings
Table 55 TCL: Major Product Offerings
Table 56 Trox: Major Product Offerings
Table 57 Vaillant: Major Product Offerings
Table 58 Ingersoll Rand: Major Product Offerings
Table 59 Camfil: Major Product Offerings
Table 60 Onda: Major Product Offerings
Table 61 HVAC Market in Europe by Geography 2019−2025 ($ billion)
Table 62 HVAC Market in Europe by Geography 2019−2025 (Revenue %)
Table 63 HVAC Market in Western Europe by Equipment 2019−2025 ($ billion)
Table 64 HVAC Market in Western Europe by Application 2019−2025 ($ billion)
Table 65 HVAC Market in Nordic by Equipment 2019−2025 ($ billion)
Table 66 HVAC Market in Nordic by Application 2019−2025 ($ billion)
Table 67 HVAC Market in Central & Eastern Europe by Equipment 2019−2025 ($ billion)
Table 68 HVAC Market in Central & Eastern Europe by Application 2019−2025 ($ billion)
Table 69 HVAC Market in Europe by Equipment 2019−2025 ($ billion)
Table 70 HVAC Market in Europe by Equipment 2019−2025 (Revenue %)
Table 71 HVAC Market in Europe by Heating Equipment 2019−2025 ($ billion)
Table 72 HVAC Market in Europe by Heating Equipment 2019−2025 (Revenue %)
Table 73 HVAC Market in Europe by AC Equipment 2019−2025 ($ billion)
Table 74 HVAC Market in Europe by AC Equipment 2019−2025 (Revenue %)
Table 75 HVAC Market in Europe by Ventilation Equipment 2019−2025 ($ billion)
Table 76 HVAC Market in Europe by Ventilation Equipment 2019−2025 (Revenue %)
Table 77 HVAC Market in Europe by Application 2019−2025 ($ billion)
Table 78 HVAC Market in Europe by Application 2019−2025 (Revenue %)
Table 79 HVAC Market in Europe by Commercial Application 2019−2025 ($ billion)
Table 80 HVAC Market in Europe by Commercial Application 2019−2025 (Revenue %)
Note: Product cover images may vary from those shown
  • Systemair
  • Johnson Controls
  • Zehnder
  • Ostberg
  • Aldes
  • Bosch
  • Daikin
  • Samsung
  • Mitsubishi Electric
  • LG
  • Panasonic
  • Carrier
  • Midea
  • Regal
  • Raytheon Technologies
  • Honeywell
  • Flakt Group
  • Beijer Ref
  • Flexit
  • Grundfos
  • Swegon
  • VTS
  • Nuaire
  • Nortek
  • Alfa Laval
  • Hitachi
  • Lu-Ve
Note: Product cover images may vary from those shown

Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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