Europe HVAC Maintenance and Services Market - Industry Outlook & Forecast 2024-2029

EXHIBIT 1 MARKET SIZE CALCULATION APPROACH (2023)

EXHIBIT 2 HVAC MAINTENANCE & SERVICE COSTS ($) (2023)

EXHIBIT 3 TYPE OF HVAC UNIT COSTS (2023)

EXHIBIT 4 SEVERAL ADVANTAGES OF PROPER HVAC INSTALLATIONS

EXHIBIT 5 SEVERAL ADVANTAGES OF PROPER HVAC INSTALLATIONS

EXHIBIT 6 STRUCTURED APPROACH TO PROFITABILITY GOAL

EXHIBIT 7 POLICY FRAMEWORK FOR ENERGY EFFICIENCY HVAC SYSTEMS

EXHIBIT 8 KEY BENEFITS OF REPOWEREU PLAN

EXHIBIT 9 PRIMARY SELLING POINTS OF EUROPE HVAC MARKET

EXHIBIT 10 INSIGHTS FOR HOTEL CONSTRUCTION IN EUROPEAN COUNTRIES (2023)

EXHIBIT 11 IMPACT OF EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS

EXHIBIT 12 SOME MODERN TECHNOLOGY OF IOT FOR HVAC SYSTEMS

EXHIBIT 13 BENEFITS OF SMART IOT SYSTEMS

EXHIBIT 14 IMPACT OF REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT ONES

EXHIBIT 15 LIST OF ENVIRONMENTAL POLLUTION CAUSED BY TRADITIONAL HVAC SYSTEMS

EXHIBIT 16 ADVANCED ENERGY-EFFICIENT HVAC TECHNOLOGIES

EXHIBIT 17 IMPACT OF CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM

EXHIBIT 18 TOP EUROPEAN COUNTRIES TEMPERATURE LEVELS BY 2022 (°F)

EXHIBIT 19 IMPACT OF RISE IN COMMERCIAL CONSTRUCTION AND PROJECTS

EXHIBIT 20 UPCOMING EUROPE RAILWAY INFRASTRUCTURE PROJECTS (2023–2024) $BILLION

EXHIBIT 21 FIVE LARGEST DATA CENTER CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

EXHIBIT 22 IMPACT OF AIRPORT MODERNIZATION

EXHIBIT 23 EUROPE COUNTRIES PASSENGER TRAFFIC GROWTH IN MARCH 2023 (YOY)

EXHIBIT 24 IMPACT OF GROWING VRF SYSTEMS

EXHIBIT 25 KEY ADVANTAGES OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS

EXHIBIT 26 KEY HIGHLIGHTS OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS (2022)

EXHIBIT 27 IMPACT OF FAVORABLE GOVERNMENT POLICIES AND INCENTIVES

EXHIBIT 28 IMPACT OF DEMAND FOR LOW GWP REFRIGERANT SOLUTIONS IN HEATING EQUIPMENT

EXHIBIT 29 IMPACT OF TURBULENT POLITICAL AND TRADE RELATIONS

EXHIBIT 30 IMPACT OF HIGH INSTALLATION AND UPFRONT COSTS

EXHIBIT 31 IMPACT OF LACK OF SKILLED LABOR

EXHIBIT 32 LABOR BENEFITS MEASURES TAKEN BY VARIOUS AGENCIES AND ORGANIZATIONS

EXHIBIT 33 IMPACT OF STRINGENT REGULATIONS

EXHIBIT 34 GOVERNMENT PLAN FOR ENERGY CONSUMPTION REDUCTION

EXHIBIT 35 GROWTH STRATEGIES FOR VENDORS IN EUROPE HVAC SERVICE MARKET

EXHIBIT 36 ENERGY CONSUMPTION RATE OF BUILDING SECTOR (2023)

EXHIBIT 37 FACTORS INFLUENCING PREFERENCE FOR HVAC SYSTEMS

EXHIBIT 38 EUROPE HVAC MAINTENANCE & SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 39 FIVE FORCES ANALYSIS (2023)

EXHIBIT 40 INCREMENTAL GROWTH BY SERVICE MODEL (2023 & 2029)

EXHIBIT 41 REVENUE AND INCREMENTAL GROWTH OF SERVICE MODEL SEGMENT

EXHIBIT 42 THREE APPROACHES FOR HVAC PREVENTIVE MAINTENANCE

EXHIBIT 43 ADVANTAGES OF HVAC MAINTENANCE

EXHIBIT 44 EUROPE HVAC MAINTENANCE & REPAIR MARKET 2020–2029 ($ BILLION)

EXHIBIT 45 EUROPE HVAC INSTALLATION MARKET 2020–2029 ($ BILLION)

EXHIBIT 46 ADVANTAGES OF HVAC INSTALLATIONS

EXHIBIT 47 AVERAGE COST FOR REPLACING AN HVAC SYSTEM

EXHIBIT 48 EUROPE HVAC REPLACEMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 49 ADVANTAGES OF HVAC SYSTEM REPLACEMENT

EXHIBIT 50 ADDITIONAL BENEFITS OF WORKING WITH HVAC CONSULTANTS

EXHIBIT 51 HVAC CONSULTING MARKET IN EUROPE 2020–2029 ($ BILLION)

EXHIBIT 52 INCREMENTAL GROWTH BY EQUIPMENT (2023 & 2029)

EXHIBIT 53 GLOBAL HEAT PUMP SALES IN 2023 (% SHARE)

EXHIBIT 54 KEY FACTORS FAVORING DEMAND FOR HEAT PUMPS

EXHIBIT 55 EUROPE HEATING EQUIPMENT MAINTENANCE & SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 56 APPLICATION OF CHILLERS IN COMMERCIAL SECTOR

EXHIBIT 57 VARIOUS TYPES OF HEAT EXCHANGERS

EXHIBIT 58 FACTOR DRIVING HEAT EXCHANGER MARKET

EXHIBIT 59 AIR CONDITIONING MAINTENANCE & SERVICE MARKET IN EUROPE 2020–2029 ($ BILLION)

EXHIBIT 60 VENTILATION EQUIPMENT MAINTENANCE & SERVICE MARKET IN EUROPE 2020–2029 ($ BILLION)

EXHIBIT 61 INCREMENTAL GROWTH BY SERVICE TYPE (2023 & 2029)

EXHIBIT 62 REVENUE AND INCREMENTAL GROWTH OF SERVICE TYPE SEGMENT

EXHIBIT 63 VALUE TO CUSTOMERS

EXHIBIT 64 MAJOR HVAC MANUFACTURER AUTHORIZED SERVICE PROVIDERS

EXHIBIT 65 EUROPE MANUFACTURER AUTHORIZED SERVICE PROVIDERS HVAC MAINTENANCE & SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 66 KEY CUSTOMER SERVICE

EXHIBIT 67 EUROPE HVAC CONTRACTORS MARKET 2020–2029 ($ BILLION)

EXHIBIT 68 OTHER HVAC SERVICE TYPE MARKET IN EUROPE 2020–2029 ($ BILLION)

EXHIBIT 69 INCREMENTAL GROWTH BY END-USER (2023 & 2029)

EXHIBIT 70 EUROPE RESIDENTIAL HVAC MAINTENANCE AND SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 71 IDEAL RECOMMENDATIONS FOR COMMERCIAL HEATING EQUIPMENT

EXHIBIT 72 EUROPE COMMERCIAL HVAC MAINTENANCE AND SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 73 OTHER END-USERS OF HVAC SYSTEMS

EXHIBIT 74 EUROPE OTHERS HVAC MAINTENANCE AND SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 75 INCREMENTAL GROWTH BY GEOGRAPHY (2023 & 2029)

EXHIBIT 76 EUROPE COMMISSION - SPRING 2022 ECONOMIC FORECAST

EXHIBIT 77 WESTERN EUROPE HVAC MAINTENANCE AND SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 78 INCREMENTAL GROWTH IN WESTERN EUROPE (2023 & 2029)

EXHIBIT 79 HVAC MAINTENANCE AND SERVICE MARKET IN GERMANY 2020–2029 ($ BILLION)

EXHIBIT 80 HVAC MAINTENANCE AND SERVICE MARKET IN FRANCE 2020–2029 ($ BILLION)

EXHIBIT 81 UK HVAC MAINTENANCE AND SERVICE MARKET 2020–2029 ($ BILLION)

EXHIBIT 82 HVAC MAINTENANCE AND SERVICE MARKET IN ITALY 2020–2029 ($ BILLION)

EXHIBIT 83 HVAC MAINTENANCE AND SERVICE MARKET IN NETHERLANDS 2020–2029 ($ BILLION)

EXHIBIT 84 YOY PERCENTAGE CHANGE IN CONSTRUCTION IN NETHERLANDS 2021-2022 (%)

EXHIBIT 85 HVAC MAINTENANCE AND SERVICE MARKET IN SPAIN 2020–2029 ($ BILLION)

EXHIBIT 86 SALES OF HEAT PUMPS IN BELGIUM (2019–2023)

EXHIBIT 87 HVAC MAINTENANCE AND SERVICE MARKET IN BELGIUM 2020–2029 ($ BILLION)

EXHIBIT 88 ENERGY BILL SAVINGS FOR HOUSEHOLDS SWITCHING TO HEAT PUMP FROM GAS BOILER ($)

EXHIBIT 89 HVAC MAINTENANCE AND SERVICE MARKET IN NORDIC 2020–2029 ($ BILLION)

EXHIBIT 90 INCREMENTAL GROWTH IN NORDIC (2023 & 2029)

EXHIBIT 91 HVAC MAINTENANCE AND SERVICE MARKET IN NORWAY 2020–2029 ($ BILLION)

EXHIBIT 92 HVAC MAINTENANCE AND SERVICE MARKET IN DENMARK 2020–2029 ($ BILLION)

EXHIBIT 93 PRODUCTION OF APARTMENTS & SMALL HOUSES IN SWEDEN 2016–2022 ($ BILLION)

EXHIBIT 94 NUMBER OF SALES OF BRINE-TO-WATER AIR-TO-WATER AND EXHAUST AIR HEAT PUMPS IN SWEDEN

EXHIBIT 95 HVAC MAINTENANCE AND SERVICE MARKET IN SWEDEN 2020–2029 ($ BILLION)

EXHIBIT 96 HVAC MAINTENANCE AND SERVICE MARKET IN FINLAND 2020–2029 ($ BILLION)

EXHIBIT 97 HVAC MAINTENANCE AND SERVICE MARKET IN CEE 2020–2029 ($ BILLION)

EXHIBIT 98 INCREMENTAL GROWTH IN CEE (2023 & 2029)

EXHIBIT 99 HVAC MAINTENANCE AND SERVICE MARKET IN RUSSIA 2020–2029 ($ BILLION)

EXHIBIT 100 FIVE LARGEST HIGH-RISE APARTMENTS PROJECTS IN RUSSIA 2022–2024 ($ MILLION)

EXHIBIT 101 HVAC MAINTENANCE AND SERVICE MARKET IN POLAND 2020–2029 ($ BILLION)

EXHIBIT 102 HVAC MAINTENANCE AND SERVICE MARKET IN HUNGARY 2020–2029 ($ BILLION)

EXHIBIT 103 NUMBER OF BUILDING PERMITS ISSUED FOR RESIDENTIAL PROPERTY CONSTRUCTION IN HUNGARY (1,000 UNITS)

EXHIBIT 104 HVAC MAINTENANCE AND SERVICE MARKET IN CZECH REPUBLIC 2020–2029 ($ BILLION)

EXHIBIT 105 INSIGHTS OF MAJOR VENDORS

EXHIBIT 106 CRITERIA FOR SUCCESS IN HVAC MARKET

EXHIBIT 107 BRAND PORTFOLIO OF JOHNSON CONTROLS

EXHIBIT 108 KEY CAVEATS

LIST OF TABLES

TABLE 1 EUROPEAN PRICE RANGE OF HVAC REPAIR AND MAINTENANCE SERVICES (2023)

TABLE 2 COMPETITIVE OVERVIEW OF EUROPE HVAC MARKET

TABLE 3 EUROPEAN COUNTRIES HEATING DEGREE DAYS 2021−2022 (FAHRENHEIT (F))

TABLE 4 EUROPEAN COUNTRIES COOLING DEGREE DAYS 2021–2022 (FAHRENHEIT (F))

TABLE 5 COST OF HEATING EQUIPMENT (2022)

TABLE 6 BREAKDOWN OF AVERAGE COSTS FOR COMMON HVAC MAINTENANCE TASKS

TABLE 7 REPAIR COSTS OF HVAC BREAKDOWN BY PARTS

TABLE 8 EUROPE HVAC MAINTENANCE & REPAIR MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 9 EUROPE HVAC INSTALLATION MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 10 EUROPE HVAC REPLACEMENT MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 11 EUROPE HVAC CONSULTING MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 12 INSTALLATION COST OF HEAT PUMP TECHNOLOGY

TABLE 13 INSTALLATION COST OF BOILER SYSTEM COST (USD)

TABLE 14 EUROPE HEATING EQUIPMENT MAINTENANCE & SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 15 INSTALLATION COST OF AIR CONDITIONER TECHNOLOGY

TABLE 16 EUROPE AIR CONDITIONING MAINTENANCE & SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 17 EUROPE VENTILATION EQUIPMENT MAINTENANCE & SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 18 EUROPE MANUFACTURER AUTHORIZED SERVICE PROVIDERS MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 19 EUROPE HVAC CONTRACTORS MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 20 EUROPE OTHER HVAC SERVICE TYPE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 21 EUROPE RESIDENTIAL CONSTRUCTION PROJECTS (2022–2024)

TABLE 22 EUROPE RESIDENTIAL HVAC MAINTENANCE AND SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 23 EUROPE OFFICE BUILDING CONSTRUCTION PROJECTS (2022–2024)

TABLE 24 FIVE LARGEST AIRPORT INFRASTRUCTURE CONSTRUCTION IN EUROPE 2021-2025 ($ MILLION)

TABLE 25 FIVE LARGEST HOTEL CONSTRUCTION PROJECTS IN EUROPE

TABLE 26 FIVE LARGEST HOSPITAL CONSTRUCTION PROJECTS IN EUROPE 2022–2030 ($ MILLION)

TABLE 27 FIVE LARGEST EDUCATIONAL FACILITIES CONSTRUCTION PROJECTS IN EUROPE 2022–2030 ($ MILLION)

TABLE 28 EUROPE COMMERCIAL HVAC MAINTENANCE AND SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 29 RETAIL BUILDING CONSTRUCTION PROJECTS IN EUROPE (2022)

TABLE 30 EUROPE OTHERS HVAC MAINTENANCE AND SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 31 ONGOING EUROPEAN RETAIL BUILDING CONSTRUCTION PROJECTS (2022-2025)

TABLE 32 WESTERN EUROPE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE MODEL 2023–2029 ($ BILLION)

TABLE 33 WESTERN EUROPE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE TYPE 2023–2029 ($ BILLION)

TABLE 34 WESTERN EUROPE HVAC MAINTENANCE AND SERVICE MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 35 WESTERN EUROPE HVAC MAINTENANCE AND SERVICE MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 36 FIVE HEALTHCARE BUILDING CONSTRUCTION PROJECTS

TABLE 37 NORDIC HVAC MAINTENANCE & SERVICE MARKET BY SERVICE MODEL 2023–2029 ($ BILLION)

TABLE 38 NORDIC HVAC MAINTENANCE & SERVICE MARKET BY SERVICE TYPE 2023–2029 ($ BILLION)

TABLE 39 NORDIC HVAC MAINTENANCE & SERVICE MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 40 NORDIC HVAC MAINTENANCE & SERVICE MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 41 TOP FIVE LARGEST CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

TABLE 42 CEE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE MODEL 2023–2029 ($ BILLION)

TABLE 43 CEE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE TYPE 2023–2029 ($ BILLION)

TABLE 44 CEE HVAC MAINTENANCE & SERVICE MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 45 CEE HVAC MAINTENANCE & SERVICE MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 46 COMPLETED & NEW CONSTRUCTION STATISTICS FOR POLAND (2022–2024)

TABLE 47 TOP FIVE LARGEST CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

TABLE 48 ALDES: MAJOR PRODUCT OFFERINGS

TABLE 49 AQUACAL: MAJOR PRODUCT OFFERINGS

TABLE 50 DAIKIN: MAJOR PRODUCT OFFERINGS

TABLE 51 ACQUISITIONS OF JOHNSON CONTROLS

TABLE 52 BUSINESS SERVICE SOLUTIONS BY JOHNSON CONTROLS

TABLE 53 JOHNSON CONTROLS: MAJOR PRODUCT OFFERINGS

TABLE 54 MITSUBISHI ELECTRIC: MAJOR PRODUCT OFFERINGS

TABLE 55 OSTBERG: MAJOR PRODUCT OFFERINGS

TABLE 56 PENTAIR: MAJOR PRODUCT OFFERINGS

TABLE 57 REGIONAL EMPLOYEES AND LOCATIONS OF ROBERT BOSCH

TABLE 58 ROBERT BOSCH: MAJOR PRODUCT OFFERINGS

TABLE 59 RHEEM MANUFACTURING COMPANY: MAJOR PRODUCT OFFERINGS

TABLE 60 SAMSUNG: MAJOR PRODUCT OFFERINGS

TABLE 61 SIEMENS AG: MAJOR PRODUCT OFFERINGS

TABLE 62 SYSTEMAIR: MAJOR PRODUCT OFFERINGS

TABLE 63 ZEHNDER: MAJOR PRODUCT OFFERINGS

TABLE 64 TRANE EUROPE: MAJOR PRODUCT OFFERINGS

TABLE 65 SWEP INTERNATIONAL: MAJOR PRODUCT OFFERINGS

TABLE 66 ONE HOUR HEATING & AIR CONDITIONING: MAJOR PRODUCT OFFERINGS

TABLE 67 SEARS HOME SERVICES: MAJOR PRODUCT OFFERINGS

TABLE 68 AIRE SERV: MAJOR PRODUCT OFFERINGS

TABLE 69 CLIMATE CONTROL HEATING & AIR CONDITIONING: MAJOR PRODUCT OFFERINGS

TABLE 70 CARRIER: MAJOR PRODUCT OFFERINGS

TABLE 71 HONEYWELL INTERNATIONAL INC: MAJOR PRODUCT OFFERINGS

TABLE 72 LG: MAJOR PRODUCT OFFERINGS

TABLE 73 PANASONIC: MAJOR PRODUCT OFFERINGS

TABLE 74 MIDEA: MAJOR PRODUCT OFFERINGS

TABLE 75 REGAL: MAJOR PRODUCT OFFERINGS

TABLE 76 RAYTHEON TECHNOLOGIES: MAJOR PRODUCT OFFERINGS

TABLE 77 FLAKT GROUP: MAJOR PRODUCT OFFERINGS

TABLE 78 SWEGON: MAJOR PRODUCT OFFERINGS

TABLE 79 VTS GROUP: MAJOR PRODUCT OFFERINGS

TABLE 80 NUAIRE: MAJOR PRODUCT OFFERINGS

TABLE 81 NORTEK: MAJOR PRODUCT OFFERINGS

TABLE 82 ALFA LAVAL: MAJOR PRODUCT OFFERINGS

TABLE 83 HITACHI: MAJOR PRODUCT OFFERINGS

TABLE 84 LU-VE: MAJOR PRODUCT OFFERINGS

TABLE 85 VENT-AXIA: MAJOR PRODUCT OFFERINGS

TABLE 86 ROSENBERG: MAJOR PRODUCT OFFERINGS

TABLE 87 S & P: MAJOR PRODUCT OFFERINGS

TABLE 88 WOLF: MAJOR PRODUCT OFFERINGS

TABLE 89 CIAT: MAJOR PRODUCT OFFERINGS

TABLE 90 AL-KO GROUP: MAJOR PRODUCT OFFERINGS

TABLE 91 DYNAIR: MAJOR PRODUCT OFFERINGS

TABLE 92 DANFOSS: MAJOR PRODUCT OFFERINGS

TABLE 93 LENNOX: MAJOR PRODUCT OFFERINGS

TABLE 94 BACKER SPRINGFIELD: MAJOR PRODUCT OFFERINGS

TABLE 95 DUNHAMBUSH: MAJOR PRODUCT OFFERINGS

TABLE 96 TCL: MAJOR PRODUCT OFFERINGS

TABLE 97 TROX: MAJOR PRODUCT OFFERINGS

TABLE 98 VAILLANT GROUP: MAJOR PRODUCT OFFERINGS

TABLE 99 INGERSOLL RAND: MAJOR PRODUCT OFFERINGS

TABLE 100 CAMFIL: MAJOR PRODUCT OFFERINGS

TABLE 101 EUROPE HVAC MAINTENANCE AND SERVICE MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 102 EUROPE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE MODEL 2023–2029 ($ BILLION)

TABLE 103 EUROPE HVAC MAINTENANCE & SERVICE MARKET BY SERVICE TYPE 2023–2029 ($ BILLION)

TABLE 104 EUROPE HVAC MAINTENANCE & SERVICE MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 105 EUROPE HVAC MAINTENANCE & SERVICE MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 106 CURRENCY CONVERSION (2017–2023)