The Europe Air Conditioning Systems Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027).
The high cost of AC systems along with the high deployment cost and the increasing prices of electric energy are some of the key aspects hampering the growth of the air conditioning systems market during the forecast period. Moreover, stringent government regulations on the consumption of energy, pollution, and global warming, are estimated to hinder the growth of the air conditioning systems market during the forecast period. The increasing adoption of centralized air condition systems in residential, government and commercial spaces across various developing and developed countries is anticipated to augment the growth of the market over the forecast period.
The residential segment is estimated to display a prominent growth rate during the forecast period. This is attributed to the increasing focus of numerous market vendors on this segment. The increase in temperature across different nations has changed the climatic conditions in the last few years.
The COVID-19 pandemic has negatively impacted the demand for AC systems across this region, which may hamper the overall growth of the regional market in the coming years. One of the most crucial factors fueling the demand for air conditioning systems in this region is the heat waves witnessed across Europe, which would accelerate the growth of the regional air conditioning systems market.
The Germany market dominated the Europe Air Conditioning Systems Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9,527.2 million by 2027. The UK market would witness a CAGR of 4.9% during (2021 - 2027). Additionally, The France market would exhibit a CAGR of 6.5% during (2021 - 2027).
Based on Type, the market is segmented into Unitary, Rooftop and PTAC. Based on Technology, the market is segmented into Non-Inverter and Inverter. 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 Air Conditioning Systems Market Size will Hit $154 Billion by 2027, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Hitachi, Ltd., Haier Smart Home Co., Ltd. (Haier Group Corporation), Whirlpool Corporation, Mitsubishi Electric Corporation, Trane Technologies PLC, Daikin Industries, Ltd., BSH Hausgeräte GmbH (Robert Bosch Group), Alfa Laval AB, and Electrolux AB.
By Type
By Technology
By End User
By Country
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