Europe HVAC Controls Market
Various governments across the world are taking initiatives to develop smart cities in their respective economies due to the rising trend of urbanization. Moreover, the European Commission (EC) aims to significantly promote energy-efficient and low-carbon technologies under its Smart Cities Initiative. Therefore, the increasing focus of governments worldwide on the development of smart cities is expected to create lucrative opportunities for the Europe HVAC controls market during the forecast period.
Europe HVAC Controls Market Overview
The Europe HVAC controls market is segmented into Germany, France, Russia, the UK, Italy, and the Rest of Europe. In Germany, the HVAC control system provides warmth or cooling in residential, commercial, or industrial building areas and fresh outdoor air to remove interior airborne contaminants, including volatile organic compounds and odors released by interior fixtures or different cleaning agents. The market growth in Europe is primarily driven by increased housing projects, growing construction spending, rising government investment in green building initiatives, fast urbanization, and rising disposable income. In European countries, such as the UK, Germany, and France, the government rules addressing energy efficiency and the use of environment-friendly refrigerants are projected to enhance the demand for HVAC equipment. Over the past ten years, the UK and France have built a comprehensive regulatory framework and binding targets for the transportation and building sectors under European commitments to boost energy efficiency by 20% by 2021.
The French organization Smart Buildings Alliance (SBA) works to advance the smart building sector in smart cities. The alliance has brought together 170 organizations from various trades within the building sector (industrial companies, service companies, builders, developers, design offices, architects, developers, and innovative startups). Moreover, the rising initiatives for sustainable building development in Europe will offer lucrative opportunities to HVAC control manufacturers. For instance, huge European cities and businesses committed to reducing their building's CO2 emissions to zero in December 2019. As part of the agreement, major participants in the construction industry, including BuroHappold, Deerns, Carbon Credentials, and Grimshaw Architects, joined Helsinki and Valladolid in signing the World Green Building Council's Net Zero Carbon Buildings Commitment. Also, in May 2023, Johnson Controls expanded its collection of residential and commercial contractor resources with the new Johnson Controls Ducted Systems (DS) Solutions App. The free app provides contractors instant access to commercial and residential equipment information to help streamline installation, troubleshooting, and maintenance processes. Thus, all the aforementioned factors are positively influencing the Europe HVAC controls market.
Europe HVAC Controls Market Segmentation
The Europe HVAC controls market is segmented into component, installation type, system, end user, and country.
Based on component, the Europe HVAC controls market is bifurcated into hardware and software & services. In 2022, the hardware and software segment registered a larger share in the Europe HVAC controls market. The hardware segment is further segmented into sensor, controllers, smart vents, and others.
Based on installation type, the Europe HVAC controls market is bifurcated into new installation and retrofit. In 2022, the retrofit segment registered a larger share in the Europe HVAC controls market
Based on system, the Europe HVAC controls market is segmented into temperature control system, humidity control system, ventilation control system, and integrated control system. In 2022, the temperature control system segment registered the largest share in the Europe HVAC controls market.
Based on end user industry, the Europe HVAC controls market is segmented into residential, commercial, and industrial. In 2022, the commercial segment registered the largest share in the Europe HVAC controls market.
Based on country, the Europe HVAC controls market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. In 2022, the UK registered the largest share in the Europe HVAC controls market.
Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Acuity Brands, Inc.; Emerson Electric Co.; Honeywell International Inc.; Johnson Controls, Inc.; Schneider Electric SE; Siemens AG; and Lennox International Inc. are some of the leading companies operating in the Europe HVAC controls market.
The Europe HVAC Controls Market is valued at US$ 1,815.69 Million in 2022, it is projected to reach US$ 7,582.79 Million by 2030.
As per our report Europe HVAC Controls Market, the market size is valued at US$ 1,815.69 Million in 2022, projecting it to reach US$ 7,582.79 Million by 2030. This translates to a CAGR of approximately 19.6% during the forecast period.
The Europe HVAC Controls Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe HVAC Controls Market report:
The Europe HVAC Controls Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe HVAC Controls Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe HVAC Controls Market value chain can benefit from the information contained in a comprehensive market report.
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