Europe HVAC Market Size to Reach Revenues of Around $78 Billion by 2025 - Arizton

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Jun 04, 2020, 10:00 ET

CHICAGO, June 4, 2020 /PRNewswire/ -- The Europe HVAC market size is expected to grow at a CAGR of over 6% during the period 2019–2025. This market research report includes data-driven and deep market insights on the impact of COVID-19 across geographies, segments, and vendor landscape. Leverage Arizton's market analysis to take real-time strategic business decisions and enhance your product portfolios.

Key Highlights Offered in the Report:

From an economic perspective, the current situation is very uncertain, and can have long-term effects on the industry. The European industry, however, is more capable and poised to overcome the current industry challenges as it has been facing many economies related problems, even prior to COVID-19, unlike other regions which were on a strong growth trendline. The industry was already cautious in its approach prior to COVID1-9 and hence, the recovery is expected to be faster as compared to other regions globally.
The year 2020 will witness some realignment with respect to the suppliers of the HVAC industry. The purchase prices of many of the supplies are expected to be fixed based on the year value of procurement of the year 2019, so as to reduce the overall procurement cost. The procurement cost is expected to be lower by around 5% to 7% in this method.
The growth rates for the market have been truncated on account of COVID-19. Taking into account the probable impact, we have reduced the growth estimates by around 2% to 3%. The growth estimates for residential sector and small commercial sectors are the most impacted.
The industry is characterized by a high degree of inorganic growth especially in the air conditioning market as the competition is intense. In the present scenarios where COVID-19 has dealt a strong blow to the industry, more aggressive joint ventures are expected to be a strong proposition to beat the market uncertainties and sustain for a longer time period.
Increase in M&A activity is expected in Q4 of 2020, with margin pressure taking a toll on small vendors dur to COVID-19 related economic slowdown and demand drop.
The profit margins are less than 3% in CEE while the same is over 5% in other regions on an average. This trend is expected to be maintained as the raw materials costs have not seen an excessive drop in the recent years.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by equipment, application, and geography
Competitive Landscape – Profile of 9 key vendors and 18 other vendors

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Europe HVAC Market – Segmentation

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 air conditioners segment is further segmented into RAC, CAC, chillers, and heat exchangers. The air conditioner segment is at a mature stage and has a vast addressable market in Eastern Europe. Germany and Italy are expected to witness faster growth for air conditioners on account of strong construction activities and a high volume of replacement demand in the long term.
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.

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

By Application

Residential
Commercial

Airports &Public
Office Spaces
Hospitality
Hospitals
Industrial & Others

Europe HVAC Market – 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.

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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 Europe HVAC market 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 European HVAC market.

Major Vendors

Systemair
Johnson Controls
Zehnder
Ostberg
Alde
Bosch
Daikin
Samsung
Mitsubishi Electric

Other vendors include – LG, Panasonic, Carrier, Midea, Regal, Raytheon Technologies, Honeywell, Flakt Group, Beijer Ref, Flexit, Grundfos, Swegon, VTS, New, Nortek, Alfa Laval, Hitachi, and Lu-Ve.

Explore our Industrial Machinery profile to know more about the industry.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence