European Air Conditioner Market Report 2023-2030: Governments Invest in Green Building Initiatives, Russia's Market is Poised for Significant Growth

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Oct 24, 2023, 05:30 ET

DUBLIN, Oct. 24, 2023 /PRNewswire/ -- The "Europe Air Conditioner Market, Size, Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Europe Air Conditioner Market size is expected to reach US$ 30.94 Billion by 2030 from $19.64 billion in 2022, growing at a 5.85% CAGR during 2022-2030

Rising temperatures and humidity levels in Europe are driving the rise of the air conditioning business. Air conditioning systems deliver clean outside air while removing indoor airborne contaminants such as VOCs and smells. The Europe market for air conditioning equipment is being driven by factors such as rising new house starts, rising construction spending, government investments in green building initiatives, and fast urbanization.

Europe is also seeing an increase in cooling demand as salaries and living standards rise. Access to cooling is critical for human growth, health, well-being, and economic productivity. Although the environmental effect of air conditioning is now minor, its ownership and consumption are likely to increase.

The European air conditioning market is driven by both new building development and the penetration of air conditioning into existing structures. In comparison to heating or lighting, this makes it a significant driver of market growth. As a result, room air conditioners are being investigated for possible measures under the Energy-Using Products Directive, emphasizing the need to address energy efficiency and environmental concerns.

In Europe, there is a growing need for fresh air distribution in commercial and industrial organizations to provide safe and healthy indoor workplaces. In February 2022, Daikin announced the EKVDX-A direct expansion coil module, which is compatible with Daikin's enhanced VAM-J8 decentralized ventilation unit and provides fresh air while lowering the heat load impact on comfort air-conditioning systems. This one-of-a-kind Daikin direct-expanding coil module generates clean, fresh air in commercial and industrial settings.

Product advancements are driving increased rates of air-conditioning equipment adoption. The increasing need for cooling within buildings, driven by climate change and the need for health-focused indoor settings, poses considerable issues. To fulfill this expanding demand while reaching net-zero emissions, it is critical to explore a cost-effective mix of passive and active cooling techniques. Reversible heat pumps can make low-carbon space heating more accessible in existing buildings.

Panasonic Corporation has announced an accelerated expansion plan for its Heating & Ventilation A/C Company's (HVAC Company's) air-to-water (A2W) heat pump and hydronic systems business in the European market. Panasonic will invest an extra 15 billion yen in its Czech Plant to increase manufacturing capacity in order to fulfill rising demand for A2W heat pumps. Including the previous year's investment, the overall investment in the European region will be 80 billion yen.

The increasing number of buildings in Europe presents significant growth opportunities for the Single Split market.

Increased use of split air conditioning systems in the Europe market has resulted from growing demand for energy-saving alternatives. Government laws encouraging energy-efficient models have accelerated the replacement of old systems with energy-saving alternatives. In recent years, the power consumption of split air conditioner market has increased significantly.

As a result, leading manufacturers are embracing green and cutting-edge technology, such as energy-saving systems. The increasing number of residential infrastructure projects, notably in Germany, France, and Russia, is likely to drive market expansion over the forecast period.

Air conditioner market in Russia is anticipated to register significant growth revenues in the coming years.

The Russian market share is likely to rise in the next few years as a result of rising commercialization and the demand for technological upgrades. Rising discretionary consumer spending on domestic infrastructural facilities is expected to fuel the Russian Federation's air conditioner industry and attract commercial investment.

Construction activities in Russia, spurred by industrialization and urbanization, will be a development driver for the air conditioner industry. Air conditioners have gone from luxury to necessity, offering cooling solutions for battling heat and maintaining the smooth operation of electrical gadgets in business centers and offices.

This increasing demand for air conditioners will help the market's growth in Russia. Local merchants and brand-based chain stores will further boost market expansion in Russia by providing cost-effective and simple financing alternatives.

Key Players

Daikin Industries Limited, Toshiba Corporation, Mitsubishi Corporation, Electrolux AB, and Carrier Global Corporation are among the significant players in the Europe Air Conditioner (AC) Market.

These firms play an important role in providing innovative and dependable air conditioning systems to fulfill European customers' cooling demands. These companies contribute to the growth and development of the Europe AC market through their knowledge and product offerings.

Market Dynamics

All companies have been covered from 3 viewpoints: Overview, Recent Development, Revenue

Daikin Industries Limited
Toshiba Corporation
Mitsubishi Corporation
Electrolux AB
Carrier Global Corporation

By Type - Europe Air Conditioners Market Analysis

Split Type (Single)
Split Type (Multi)
PAC
VRF
Others

By Country - Europe Air Conditioners Market & Volume Analysis

Russia
Italy
Spain
France
Turkey
Greece
Germany
England
Netherlands
Poland
Portugal
Bulgaria
Belgium
Romania
Hungary
Norway
Finland
Sweden
Cyprus
Croatia
Czech Republic
Austria
Switzerland
Rest of Europe

For more information about this report visit https://www.researchandmarkets.com/r/ugvadi

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