Europe HVAC Market - Industry Outlook & Forecast 2024-2029

EXHIBIT 1 MARKET SIZE CALCULATION APPROACH 2023

EXHIBIT 2 SEVERAL ADVANTAGES OF PROPER HVAC INSTALLATIONS

EXHIBIT 3 POLICY FRAMEWORK FOR ENERGY EFFICIENCY HVAC SYSTEMS

EXHIBIT 4 KEY BENEFITS OF REPOWEREU PLAN

EXHIBIT 5 PRIMARY SELLING POINTS OF EUROPEAN HVAC MARKET

EXHIBIT 6 STRUCTURED APPROACH TO PROFITABILITY GOAL

EXHIBIT 7 INSIGHTS FOR HOTEL CONSTRUCTION IN EUROPEAN COUNTRIES 2023

EXHIBIT 8 VALUE CHAIN ANALYSIS OF EUROPE HVAC MARKET

EXHIBIT 9 IMPACT OF EMERGENCE OF IOT AND PRODUCT INNOVATIONS TO AID REPLACEMENTS

EXHIBIT 10 SOME MODERN TECHNOLOGY OF IOT FOR HVAC SYSTEMS

EXHIBIT 11 BENEFITS OF SMART IOT SYSTEMS

EXHIBIT 12 IMPACT OF REPLACEMENT OF EXISTING EQUIPMENT WITH ENERGY-EFFICIENT ONES

EXHIBIT 13 LIST OF ENVIRONMENTAL POLLUTION CAUSED BY TRADITIONAL HVAC SYSTEMS

EXHIBIT 14 ADVANCED ENERGY-EFFICIENT HVAC TECHNOLOGIES

EXHIBIT 15 IMPACT OF CLIMATIC CONDITIONS AND HEATWAVES PROPEL DEMAND FOR HVAC SYSTEM

EXHIBIT 16 TOP EUROPEAN COUNTRIES TEMPERATURE LEVELS BY 2022

EXHIBIT 17 IMPACT OF RISE IN COMMERCIAL CONSTRUCTION AND PROJECTS

EXHIBIT 18 UPCOMING GLOBAL RAILWAY INFRASTRUCTURE PROJECTS 2023–2024 ($ BILLION)

EXHIBIT 19 FIVE LARGEST DATA CENTER CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

EXHIBIT 20 IMPACT OF AIRPORT MODERNIZATION

EXHIBIT 21 EUROPE COUNTRIES PASSENGER TRAFFIC GROWTH IN MARCH 2023 (YOY)

EXHIBIT 22 IMPACT OF GROWING VRF SYSTEMS

EXHIBIT 23 KEY ADVANTAGES OF VARIABLE REFRIGERANT FLOW (VRF) SYSTEMS

EXHIBIT 24 KEY HIGHLIGHTS OF VRF SYSTEMS 2022

EXHIBIT 25 IMPACT OF FAVORABLE GOVERNMENT POLICIES AND INCENTIVES

EXHIBIT 26 IMPACT OF DEMAND FOR LOW GWP REFRIGERANT SOLUTIONS IN HEATING EQUIPMENT

EXHIBIT 27 IMPACT OF TURBULENT POLITICAL AND TRADE RELATIONS

EXHIBIT 28 IMPACT OF HIGH INSTALLATION AND UPFRONT COSTS

EXHIBIT 29 IMPACT OF LACK OF SKILLED LABOR

EXHIBIT 30 LABOR BENEFITS MEASURES TAKEN BY VARIOUS AGENCIES AND ORGANIZATIONS

EXHIBIT 31 IMPACT OF STRINGENT REGULATIONS

EXHIBIT 32 GOVERNMENT PLAN FOR ENERGY CONSUMPTION REDUCTION

EXHIBIT 33 GROWTH STRATEGIES FOR VENDORS IN EUROPEAN HVAC MARKET

EXHIBIT 34 ENERGY CONSUMPTION RATE OF BUILDING SECTOR 2023

EXHIBIT 35 FACTORS INFLUENCING PREFERENCE FOR HVAC SYSTEMS

EXHIBIT 36 HVAC MARKET IN EUROPE 2020–2029 ($ BILLION)

EXHIBIT 37 FIVE FORCES ANALYSIS 2023

EXHIBIT 38 INCREMENTAL GROWTH BY EQUIPMENT 2023 & 2029

EXHIBIT 39 EUROPE HEATING EQUIPMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 40 EUROPE HEAT PUMP MARKET 2020–2029 ($ BILLION)

EXHIBIT 41 KEY FACTORS FAVORING DEMAND FOR HEAT PUMPS

EXHIBIT 42 EUROPE BOILER UNIT MARKET 2020–2029 ($ BILLION)

EXHIBIT 43 EUROPE FURNACE MARKET 2020–2029 ($ BILLION)

EXHIBIT 44 EUROPE OTHER HEATING EQUIPMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 45 KEY BENEFITS OF AIR CONDITIONING (AC) EQUIPMENT

EXHIBIT 46 EUROPE AIR CONDITIONING MARKET 2020–2029 ($ BILLION)

EXHIBIT 47 KEY BENEFITS OF RAC EQUIPMENT

EXHIBIT 48 EUROPE RAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 49 EUROPE CAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 50 EUROPE CHILLER MARKET 2020–2029 ($ BILLION)

EXHIBIT 51 APPLICATION OF CHILLERS IN COMMERCIAL SECTOR

EXHIBIT 52 VARIOUS TYPES OF HEAT EXCHANGERS

EXHIBIT 53 FACTOR DRIVING HEAT EXCHANGER MARKET

EXHIBIT 54 EUROPE HEAT EXCHANGER MARKET 2020–2029 ($ BILLION)

EXHIBIT 55 EUROPE OTHER AIR CONDITIONING EQUIPMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 56 EUROPE VENTILATION EQUIPMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 57 EUROPE AIR HANDLING UNIT MARKET 2020–2029 ($ BILLION)

EXHIBIT 58 EUROPE AIR FILTER MARKET 2020–2029 ($ BILLION)

EXHIBIT 59 EUROPE HUMIDIFIER & DEHUMIDIFIER MARKET 2020–2029 ($ BILLION)

EXHIBIT 60 EUROPE FAN COIL UNIT MARKET 2020–2029 ($ BILLION)

EXHIBIT 61 EUROPE OTHER VENTILATION EQUIPMENT MARKET 2020–2029 ($ BILLION)

EXHIBIT 62 INCREMENTAL GROWTH BY END-USER 2023 & 2029

EXHIBIT 63 EUROPE RESIDENTIAL HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 64 IDEAL RECOMMENDATIONS FOR COMMERCIAL HEATING EQUIPMENT

EXHIBIT 65 EUROPE COMMERCIAL HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 66 OTHER END-USERS OF HVAC SYSTEMS

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

EXHIBIT 68 INCREMENTAL GROWTH BY GEOGRAPHY 2023 & 2029

EXHIBIT 69 EUROPE COMMISSION - SPRING 2022 ECONOMIC FORECAST

EXHIBIT 70 WESTERN EUROPE HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 71 INCREMENTAL GROWTH IN WESTERN EUROPE 2023 & 2029

EXHIBIT 72 GERMANY HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 73 FRANCE HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 74 UK HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 75 ITALY HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 76 NETHERLANDS HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 77 YOY CHANGE IN CONSTRUCTION IN NETHERLANDS 2021-2022 (%)

EXHIBIT 78 SPAIN HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 79 SALES OF HEAT PUMPS IN BELGIUM (2019–2023)

EXHIBIT 80 BELGIUM HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 81 ENERGY BILL SAVINGS FOR HOUSEHOLDS SWITCHING TO HEAT PUMP FROM GAS BOILER ($)

EXHIBIT 82 NORDIC HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 83 INCREMENTAL GROWTH IN NORDIC 2023 & 2029

EXHIBIT 84 NORWAY HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 85 DENMARK HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 86 PRODUCTION OF APARTMENTS & SMALL HOUSES IN SWEDEN 2016–2022 ($ BILLION)

EXHIBIT 87 NUMBER OF SALES OF BRINE-TO-WATER, AIR-TO-WATER, AND EXHAUST AIR HEAT PUMPS IN SWEDEN

EXHIBIT 88 SWEDEN HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 89 FINLAND HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 90 CEE HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 91 INCREMENTAL GROWTH IN CEE 2023 & 2029

EXHIBIT 92 RUSSIA HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 93 FIVE LARGEST HIGH-RISE APARTMENTS PROJECTS IN RUSSIA 2022–2024 ($ MILLION)

EXHIBIT 94 POLAND HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 95 HUNGARY HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 96 NUMBER OF BUILDING PERMITS ISSUED FOR RESIDENTIAL PROPERTY CONSTRUCTION IN HUNGARY (1,000 UNITS)

EXHIBIT 97 CZECH REPUBLIC HVAC MARKET 2020–2029 ($ BILLION)

EXHIBIT 98 INSIGHTS OF MAJOR VENDORS

EXHIBIT 99 CRITERIA FOR SUCCESS IN HVAC MARKET

EXHIBIT 100 BRAND PORTFOLIO OF JOHNSON CONTROLS

EXHIBIT 101 KEY CAVEATS

LIST OF TABLES

TABLE 1 COMPETITIVE OVERVIEW OF EUROPE HVAC MARKET

TABLE 2 EUROPEAN COUNTRIES HEATING DEGREE DAYS 2021−2022

TABLE 3 EUROPEAN COUNTRIES COOLING DEGREE DAYS, 2021–2022

TABLE 4 COST OF HEATING EQUIPMENT 2022

TABLE 5 EUROPE HEATING EQUIPMENT MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 6 INSTALLATION COST OF HEAT PUMP TECHNOLOGY

TABLE 7 INSTALLATION COST OF BOILER SYSTEM COST

TABLE 8 INSTALLATION COST OF AIR CONDITIONER TECHNOLOGY

TABLE 9 EUROPE AIR CONDITIONING MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 10 EUROPE VENTILATION EQUIPMENT MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 11 EUROPE RESIDENTIAL CONSTRUCTION PROJECTS 2022–2024

TABLE 12 EUROPE RESIDENTIAL HVAC MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 13 EUROPE OFFICE BUILDING CONSTRUCTION PROJECTS 2022–2024

TABLE 14 FIVE LARGEST AIRPORT INFRASTRUCTURE CONSTRUCTION IN EUROPE 2021-2025 ($ MILLION)

TABLE 15 FIVE LARGEST HOTEL CONSTRUCTION PROJECTS IN EUROPE

TABLE 16 FIVE LARGEST HOSPITAL CONSTRUCTION PROJECTS IN EUROPE 2022–2030 ($ MILLION)

TABLE 17 FIVE LARGEST EDUCATIONAL FACILITIES CONSTRUCTION PROJECTS IN EUROPE 2022–2030 ($ MILLION)

TABLE 18 EUROPE COMMERCIAL HVAC MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 19 RETAIL BUILDING CONSTRUCTION PROJECTS IN EUROPE 2022

TABLE 20 EUROPE OTHERS HVAC MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 21 ONGOING EUROPEAN RETAIL BUILDING CONSTRUCTION PROJECTS 2022-2025

TABLE 22 WESTERN EUROPE HVAC MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 23 WESTERN EUROPE HVAC MARKET BY HEATING 2023–2029 ($ BILLION)

TABLE 24 WESTERN EUROPE HVAC MARKET BY AIR CONDITIONER 2023–2029 ($ BILLION)

TABLE 25 WESTERN EUROPE HVAC MARKET BY VENTILATION 2023–2029 ($ BILLION)

TABLE 26 WESTERN EUROPE HVAC MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 27 FIVE HEALTHCARE BUILDING CONSTRUCTION PROJECTS

TABLE 28 NORDIC HVAC MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 29 NORDIC HVAC MARKET BY HEATING 2023–2029 ($ BILLION)

TABLE 30 NORDIC HVAC MARKET BY AIR CONDITIONER 2023–2029 ($ BILLION)

TABLE 31 NORDIC HVAC MARKET BY VENTILATION 2023–2029 ($ BILLION)

TABLE 32 NORDIC HVAC MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 33 TOP FIVE LARGEST CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

TABLE 34 CEE HVAC MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 35 CEE HVAC MARKET BY HEATING 2023–2029 ($ BILLION)

TABLE 36 CEE HVAC MARKET BY AIR CONDITIONER 2023–2029 ($ BILLION)

TABLE 37 CEE HVAC MARKET BY VENTILATION 2023–2029 ($ BILLION)

TABLE 38 CEE HVAC MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 39 COMPLETED & NEW CONSTRUCTION STATISTICS FOR POLAND 2022–2024

TABLE 40 TOP FIVE LARGEST CONSTRUCTION PROJECTS INITIATED 2022–2024 ($ MILLION)

TABLE 41 ALDES: MAJOR PRODUCT OFFERINGS

TABLE 42 DAIKIN: MAJOR PRODUCT OFFERINGS

TABLE 43 ACQUISITIONS OF JOHNSON CONTROLS

TABLE 44 BUSINESS SERVICE SOLUTIONS BY JOHNSON CONTROLS

TABLE 45 JOHNSON CONTROLS: MAJOR PRODUCT OFFERINGS

TABLE 46 MITSUBISHI ELECTRIC: MAJOR PRODUCT OFFERINGS

TABLE 47 OSTBERG: MAJOR PRODUCT OFFERINGS

TABLE 48 PENTAIR: MAJOR PRODUCT OFFERINGS

TABLE 49 REGIONAL EMPLOYEES AND LOCATIONS OF ROBERT BOSCH

TABLE 50 ROBERT BOSCH: MAJOR PRODUCT OFFERINGS

TABLE 51 RHEEM MANUFACTURING COMPANY: MAJOR PRODUCT OFFERINGS

TABLE 52 SAMSUNG: MAJOR PRODUCT OFFERINGS

TABLE 53 SIEMENS AG: MAJOR PRODUCT OFFERINGS

TABLE 54 SYSTEMAIR: MAJOR PRODUCT OFFERINGS

TABLE 55 ZEHNDER: MAJOR PRODUCT OFFERINGS

TABLE 56 ALFA LAVAL: MAJOR PRODUCT OFFERINGS

TABLE 57 CARRIER: MAJOR PRODUCT OFFERINGS

TABLE 58 HONEYWELL INTERNATIONAL INC: MAJOR PRODUCT OFFERINGS

TABLE 59 LG: MAJOR PRODUCT OFFERINGS

TABLE 60 PANASONIC: MAJOR PRODUCT OFFERINGS

TABLE 61 MIDEA: MAJOR PRODUCT OFFERINGS

TABLE 62 REGAL: MAJOR PRODUCT OFFERINGS

TABLE 63 RAYTHEON TECHNOLOGIES: MAJOR PRODUCT OFFERINGS

TABLE 64 FLÄKT GROUP: MAJOR PRODUCT OFFERINGS

TABLE 65 SWEGON: MAJOR PRODUCT OFFERINGS

TABLE 66 VTS GROUP: MAJOR PRODUCT OFFERINGS

TABLE 67 NUAIRE: MAJOR PRODUCT OFFERINGS

TABLE 68 NORTEK: MAJOR PRODUCT OFFERINGS

TABLE 69 HITACHI: MAJOR PRODUCT OFFERINGS

TABLE 70 LU-VE: MAJOR PRODUCT OFFERINGS

TABLE 71 VENT-AXIA: MAJOR PRODUCT OFFERINGS

TABLE 72 ROSENBERG: MAJOR PRODUCT OFFERINGS

TABLE 73 S & P: MAJOR PRODUCT OFFERINGS

TABLE 74 WOLF: MAJOR PRODUCT OFFERINGS

TABLE 75 CIAT: MAJOR PRODUCT OFFERINGS

TABLE 76 AL-KO GROUP: MAJOR PRODUCT OFFERINGS

TABLE 77 DYNAIR: MAJOR PRODUCT OFFERINGS

TABLE 78 DANFOSS: MAJOR PRODUCT OFFERINGS

TABLE 79 LENNOX: MAJOR PRODUCT OFFERINGS

TABLE 80 BACKER SPRINGFIELD: MAJOR PRODUCT OFFERINGS

TABLE 81 DUNHAMBUSH: MAJOR PRODUCT OFFERINGS

TABLE 82 TCL: MAJOR PRODUCT OFFERINGS

TABLE 83 TROX: MAJOR PRODUCT OFFERINGS

TABLE 84 VAILLANT GROUP: MAJOR PRODUCT OFFERINGS

TABLE 85 VIESSMANN GROUP: MAJOR PRODUCT OFFERINGS

TABLE 86 STIEBEL ELTRON: MAJOR PRODUCT OFFERINGS

TABLE 87 NIBE GROUP: MAJOR PRODUCT OFFERINGS

TABLE 88 UPONOR CORPORATION: MAJOR PRODUCT OFFERINGS

TABLE 89 GLEN DIMPLEX: MAJOR PRODUCT OFFERINGS

TABLE 90 FERROLI: MAJOR PRODUCT OFFERINGS

TABLE 91 ELCO BURNERS: MAJOR PRODUCT OFFERINGS

TABLE 92 BDR THERMEA GROUP: MAJOR PRODUCT OFFERINGS

TABLE 93 BIDDLE AIR SYSTEMS: MAJOR PRODUCT OFFERINGS

TABLE 94 RIELLO GROUP: MAJOR PRODUCT OFFERINGS

TABLE 95 INGERSOLL RAND: MAJOR PRODUCT OFFERINGS

TABLE 96 CAMFIL: MAJOR PRODUCT OFFERINGS

TABLE 97 EUROPE HVAC MARKET BY GEOGRAPHY 2023–2029 ($ BILLION)

TABLE 98 EUROPE HVAC MARKET BY EQUIPMENT 2023–2029 ($ BILLION)

TABLE 99 EUROPE HVAC MARKET BY HEATING 2023–2029 ($ BILLION)

TABLE 100 EUROPE HVAC MARKET BY AIR CONDITIONER 2023–2029 ($ BILLION)

TABLE 101 EUROPE HVAC MARKET BY VENTILATION 2023–2029 ($ BILLION)

TABLE 102 EUROPE HVAC MARKET BY END-USER 2023–2029 ($ BILLION)

TABLE 103 CURRENCY CONVERSION 2017–2023