The sun seems to be shining brighter on the European air conditioning (AC) market, especially in France, according to a new report from BSRIA. The “In-depth European Air Conditioning Reports: 2023-2028” delves into the residential and commercial AC markets for five key countries: France, Germany, Italy, Spain, and the UK, offering valuable insights for manufacturers, distributors, and industry stakeholders.
French Market Sizzles with Opportunity:
Fueled by scorching summers and rising temperatures, France emerges as the hottest prospect in the European AC market. The report projects a CAGR of 6.7% for residential AC between 2023-2028, with heat waves like the one in 2023 accelerating demand. Split systems and mobile units are expected to lead the charge, as consumers seek affordable and flexible cooling solutions.
Germany Embraces Green Chill:
While France focuses on immediate relief, Germany prioritizes sustainability. The report anticipates a CAGR of 5.2% for residential AC in Germany, driven by energy-efficient options like heat pumps and inverter technology. Government incentives and environmental awareness are fueling this shift towards greener cooling solutions.
Italy and Spain Seek Comfort:
The Italian and Spanish markets are expected to see steady growth, with CAGRs of 4.1% and 3.8% respectively for residential AC. Split systems and portable units will remain popular choices, driven by a desire for comfort and affordability.
UK Chills Out:
The UK, with its traditionally mild climate, sees a slower growth curve with a CAGR of 2.6%. However, the report notes an increasing awareness of the benefits of AC, particularly in commercial buildings, as heat waves become more frequent.
Commercial Market Cools Off:
Across all five countries, the commercial AC market is expected to experience slower growth compared to residential, with a CAGR of 2.7% for 2023-2028. This is attributed to existing infrastructure and delayed post-pandemic recovery in some sectors.
Beyond the Numbers:
BSRIA’s report goes beyond mere statistics, offering valuable insights into market trends and influencing factors. The rise of online sales, growing demand for smart AC features, and concerns about noise pollution are some key takeaways for industry players.
A Warming Outlook:
With climate change pushing temperatures higher, the European AC market is poised for continued growth. BSRIA’s report provides a comprehensive roadmap for players to navigate this evolving landscape, helping them capitalize on the opportunities and address the challenges that lie ahead. By adapting to regional priorities and embracing sustainable technologies, the European AC market can ensure a cool and comfortable future for customers across the continent.