Europe HVAC Market Projected to Cross USD31 Billion by 2022
Growing demand
for energy-efficient devices, expanding building automation and control system
market to drive demand for HVAC systems in Europe through 2022
According to TechSci
Research report, “Europe
HVAC Market By Product Type, By End Use
Sector, By Country Competition Forecast & Opportunities, 2012 – 2022”, HVAC market in Europe is projected to
surpass USD31 billion by 2022. Rising demand for HVAC systems from residential,
commercial, industrial and institutional sectors in the region are the major
factors boosting growth in Europe HVAC market. Europe’s construction sector stood at around
USD1,222.71 billion in 2013, which further increased to around USD1,305.41
billion by 2015. Thus, expanding construction sector is one of the major demand
generating end use sector for HVAC systems in the region. Tourism sector in Europe stood at USD451
billion in 2015, which is further forecast to surpass USD548 billion by 2021. Therefore,
fueling construction of new airports
and hotels across the entire region, which is expected to propel installation
of HVAC systems in these new facilities. Furthermore, rising technological advancements and aggressive
marketing strategies by leading HVAC manufacturers operating in the region are
expected to drive demand for HVAC systems in Europe through 2022.
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2 market data Tables and 72 Figures spread through 111 Pages and
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Market Forecast & Opportunities, 2012-2022"
https://www.techsciresearch.com/report/europe-hvac-market-by-product-type-direct-expansion-and-central-hvac-systems-by-end-use-sector-residential-commercial-industrial-etc-by-country-italy-russia-france-germany-etc-competition-forecast-opportunities/890.html
Bosch Thermotechnik, Daikin,
Valliant Group and Danfoss are the leading players operating in Europe HVAC
market, and these companies
are further expected to continue to lead the market during the forecast period
as well. Moreover,
these companies are increasing their focus on manufacturing HVAC systems that would work on green
technology and are also compatible with smart devices. HVAC systems can be of categorized into direct expansion HVAC systems
and central HVAC systems. Direct
expansion HVAC systems dominated Europe HVAC market in 2016, as it
occupies less space and is cheaper than centralized cooling systems.
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“Various HVAC
manufacturers in Europe are increasing their focus on manufacturing HVAC systems
that are more energy efficient, eco-friendly, and are also easy to use.
Moreover, rising technological advancement in HVAC systems has led to
integration of IoT technology with these systems and now consumers can analyze
consumption of power effectively and decrease the power consumption simultaneously.
Thus, rising trend of smart homes, booming building automation and control
systems market, coupled with expanding construction sector are expected to
drive demand for HVAC systems in Europe during the forecast period”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Europe HVAC Market By Product Type, By End Use Sector, By Country
Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of HVAC systems
market in Europe and provides statistics and information on market structure,
size, share and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers to take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges and opportunities present in
Europe HVAC market.
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