Europe HVAC Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Europe HVAC Equipment Market was valued at USD 24.86 billion in 2021 and is expected to reach USD 35.58 billion by 2027, registering a CAGR of 6.28 % during the forecast period (2022-2027). In residential, industrial, or commercial building spaces, heating or cooling is implemented by heating, ventilation, and air conditioning (HVAC) equipment. It also provides fresh outdoor air to eliminate inner airborne contaminants, such as VOCs and odors emitted from interior fittings or various cleaning chemicals. Major factors driving the market for Europe HVAC equipment include an increase in new households, rising average construction spending, rising government spending on sustainable building development, rapid urbanization, and growth in disposable income across several European economies.
Key HighlightsThe Europe HVAC Equipment Market is competitive as it is home to prominent vendors that command a prominent share of the market in different segments along with access to well-established distribution networks. With the advent of smart solutions, it is expected to become another strategic competitive point in the market. The smart building technology incorporation across commercial and industrial sectors is expected to drive connected HAVC systems in Europe and increase the competitive rivalry among the vendors in the market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook