The Europe Portable HVAC Equipment Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
Software, sensors, and connectivity are built into new HVAC technologies that employ an Internet of Things (IoT) system, allowing the HVAC equipment to exchange data with several other connected devices. IoT solutions enhance preventative maintenance by collecting information on equipment status and air quality.
Gaining insight into a variety of equipment is made substantially simpler by new, reasonably priced IoT HVAC technologies. The rising use of cloud computing has benefited several business sectors by enabling cutting-edge AI capabilities for a range of applications, including HVAC. The most sophisticated use of cloud computing and IoT is the digital twin, which is a real-time-based system simulation model.
The model employs real-time operational data gathered from the HVAC system to conduct a simulation to decrease operational costs, provides information on the optimum checklist for HVAC equipment, and performs remote diagnostics. In addition, by using machine learning to automate procedures, digital twins can aid in the construction of smarter buildings.
The amendment of the Energy Performance of Buildings Directive (EPBD) in Europe aims to further improve building energy efficiency. The rule recognizes that effective control of technical building systems, including ventilation, lighting, sanitary hot water, and space heating, is a critical element of overall system efficacy and provides a large and manageable potential for energy savings. The amended directive addresses this deficiency by including a variety of policy measures that concentrate on better monitoring and control of building energy systems. The adoption of these measures is required by Europe's high environmental goals, which call for the achievement of the zero emissions target. The emergence and development of the portable HVAC equipment market in the region have now been given wonderful prospects as a result.
The Germany market dominated the Europe Portable HVAC Equipment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $302.2 Million by 2028.The UK market is anticipated to grow at a CAGR of 3.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 5.6% during (2022 - 2028).
Based on Product Type, the market is segmented into Portable Fans, Portable Air Conditioners and Portable Heaters. Based on End User, the market is segmented into Residential and Commercial. Based on Distribution Channel, the market is segmented into Hypermarkets / Supermarkets, Departmental Stores, Specialty Stores, Online Retail and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Portable HVAC Equipment Market will Hit $4.5 Billion by 2028, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics (LG Corporation), Panasonic Holdings Corporation, Carrier Global Corporation, Daikin Industries, Ltd., Emerson Electric Co., Hitachi, Ltd., AB Electrolux (Electrolux), Blue Star Limited, Haier Smart Home Co., Ltd. (Haier Group Corporation), and Dyson Limited.
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