Europe HVAC Systems Market By Product (Cooling, Heating and Ventilation), By End User (Residential, Commercial, and Industrial), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Europe HVAC Systems Market
Market Report Description
The Europe HVAC Systems Market would witness market growth of 5% CAGR during the forecast period (2021-2027).
HVAC systems are considered as indoor as well as vehicular environment comfort technology that involves in offering thermal comfort and suitable indoor air quality. It is also the main component present in several residential structures that involve single-family homes, hotels, apartment buildings, and senior living facilities, medium to large industrial and office buildings, like hospitals, skyscrapers, vehicles, like cars, airplanes, ships & submarines, trains, and in marine environments, where there is a high need to regulate secure and healthy building conditions, regarding humidity, and temperature with the help of fresh air from outdoors.
As HVAC systems find potential applications in the automotive industry, the region is expected to witness healthy growth during the forecast period. Countries of the region including the UK and Germany are home to some of the leading automotive manufacturers across the world. Therefore, the demand for HVAC systems will fuel in this region based on this fact.
The surge in disposable income and growing inclination towards these systems are expected to accelerate the demand for HVAC systems over the forthcoming years. Moreover, the constant technological developments like the Internet of Things (IoT), remote control access, and automated control systems is creating various sorts of transformation in the HVAC equipment in the upcoming years. Furthermore, players operating in the regional market are putting hefty investments in R&D activities with an aim to create new and unique products including hybrid HVAC systems. Thus, these factors are likely to create a positive outlook for the growth of the regional HVAC systems market in the upcoming years.
The Germany market dominated the Europe Commercial HVAC Systems Market by Country 2020, thereby, achieving a market value of $3,740.9 million by 2027. The UK market is exhibiting a CAGR of 4% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 5.5% during (2021 - 2027).
Based on Product, the market is segmented into Cooling, Heating and Ventilation. Based on End User, the market is segmented into Residential, Commercial, and Industrial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global HVAC Systems Market Size will Hit $191.1 Billion by 2027, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Johnson Controls International PLC, Hitachi, Ltd., Emerson Electric Co., Mitsubishi Electric Corporation, Trane Technologies PLC, Samsung Electronics Co., Ltd., Daikin Industries, Ltd., LG Electronics, Inc. and Lennox International, Inc.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Carrier Global Corporation,
- Johnson Controls International PLC,
- Hitachi, Ltd.,
- Emerson Electric Co.,
- Mitsubishi Electric Corporation,
- Trane Technologies PLC,
- Samsung Electronics Co., Ltd.,
- Daikin Industries, Ltd.,
- LG Electronics, Inc.
- Lennox International, Inc.
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