New York, United States, February 1, 2017 /PRNewswire/ --
Growing demand for energy-efficient devices, expanding building automation and control system market to drive demand for HVAC systems in Europe through 2022
According to TechSci Research report, "Europe HVAC Market By Product Type, By End Use Sector, By Country Competition Forecast & Opportunities, 2012 - 2022", HVAC market in Europe is projected to surpass USD31 billion by 2022. Rising demand for HVAC systems from residential, commercial, industrial and institutional sectors in the region are the major factors boosting growth in Europe HVAC market. Europe's construction sector stood at around USD1,222.71 billion in 2013, which further increased to around USD1,305.41 billion by 2015. Thus, expanding construction sector is one of the major demand generating end use sector for HVAC systems in the region. Tourism sector in Europe stood at USD451 billion in 2015, which is further forecast to surpass USD548 billion by 2021. Therefore, fueling construction of new airports and hotels across the entire region, which is expected to propel installation of HVAC systems in these new facilities. Furthermore, rising technological advancements and aggressive marketing strategies by leading HVAC manufacturers operating in the region are expected to drive demand for HVAC systems in Europe through 2022.
Browse 2 market data Tables and 72 Figures spread through 111 Pages and an in-depth TOC on
"Europe HVAC Market Forecast & Opportunities, 2012-2022"
Bosch Thermotechnik, Daikin, Valliant Group and Danfoss are the leading players operating in Europe HVAC market, and these companies are further expected to continue to lead the market during the forecast period as well. Moreover, these companies are increasing their focus on manufacturing HVAC systems that would work on green technology and are also compatible with smart devices. HVAC systems can be of categorized into direct expansion HVAC systems and central HVAC systems. Direct expansion HVAC systems dominated Europe HVAC market in 2016, as it occupies less space and is cheaper than centralized cooling systems.
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"Various HVAC manufacturers in Europe are increasing their focus on manufacturing HVAC systems that are more energy efficient, eco-friendly, and are also easy to use. Moreover, rising technological advancement in HVAC systems has led to integration of IoT technology with these systems and now consumers can analyze consumption of power effectively and decrease the power consumption simultaneously. Thus, rising trend of smart homes, booming building automation and control systems market, coupled with expanding construction sector are expected to drive demand for HVAC systems in Europe during the forecast period", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Europe HVAC Market By Product Type, By End Use Sector, By Country Competition Forecast & Opportunities, 2012 - 2022" has evaluated the future growth potential of HVAC systems market in Europe and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in Europe HVAC market.
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