Europe Air Conditioners Market - Opportunity Analysis and Industry Forecast (2023-2030)

Meticulous Research®, a prominent global market research firm, released a study titled, ‘Europe Air Conditioners Market by Type (Split, Window, Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others), Technology (Inverter, Non-inverter), End User (Residential, Commercial, Industrial), and Geography - Forecast to 2030.’

As per the most recent report by Meticulous Research®, the air conditioners market in Europe is anticipated to achieve a value of $46.8 billion by 2030, with a compound annual growth rate (CAGR) of 6% from 2023 to 2030. The expansion of this market is propelled by rising temperatures and humidity, a rising consumer inclination towards convenience and comfort, and an increasing requirement for energy-efficient air conditioning units. Nevertheless, the market's growth is hindered by the elevated costs associated with air conditioners.

Increasingly, the uptake of air conditioners incorporating inverter and air purification technologies, alongside ongoing technological enhancements in HVAC systems, are opening avenues for growth for market participants. Nonetheless, the considerable energy consumption associated with air conditioners presents a significant hurdle to their widespread adoption, posing a major challenge for stakeholders in the market. Additionally, the market is witnessing notable trends such as the integration of connected features in air conditioners and the emergence of solar photovoltaic (PV) and solar thermal-assisted air conditioning systems.

Based on type, the Europe air conditioners market is divided into several segments, including window ACs, split ACs, VRF (Variable Refrigerant Flow) systems, centralized/ducted ACs, and other types of air conditioners. In 2023, the split ACs segment is anticipated to hold the largest market share. This dominance can be attributed to the increasing demand for energy-efficient and low-noise air conditioners, as well as the concerted efforts of AC manufacturers to offer high-quality products and introduce a diverse range of split ACs to the market. Split AC systems are renowned for their energy efficiency and ability to maintain clean indoor environments. However, it is projected that the centralized/ducted ACs segment will experience the highest compound annual growth rate (CAGR) during the forecast period.

Based on tonnage, The Europe air conditioners market is categorized into different tonnage segments, including up to 2 tons, 2 tons to 5 tons, 5 tons to 10 tons, and more than 10 tons. In 2023, the up to 2 tons segment is projected to hold the largest portion of the market. This dominance is credited to the growing preference for air conditioners with tailored features in small residences and office setups, as well as the increasing demand for air conditioning units with tonnage capacities of up to 2 tons across Europe.

In recent years, leading air conditioning manufacturers have introduced air conditioners with capacities of up to 2 tons that feature:

  • Incorporation of a swing feature ensuring uniform air distribution across the designated area.
  • Inclusion of washable filters designed for convenient removal and reinsertion into the air conditioner.
  • Integration of voice-activated capabilities and compatibility with Google Assistant, enabling hands-free operation.

These advancements are driving higher adoption rates within the up-to-2-tons segment.

Nevertheless, it is anticipated that the 2 tons to 5 tons segment will experience the most significant compound annual growth rate (CAGR) throughout the forecast period.

Based on technology, the Europe air conditioners market is divided into inverter ACs and non-inverter ACs. In 2023, the inverter ACs segment is forecasted to dominate the market share due to technological advancements and manufacturers' emphasis on enhancing and introducing inverter-powered ACs. Additionally, the inverter ACs segment is expected to exhibit a higher compound annual growth rate (CAGR) during the forecast period.          

Based on rating, the Europe air conditioners market is segmented into 1 Star ACs, 2 Star ACs, 3 Star ACs, 4 Star ACs, and 5 Star ACs. In 2023, the 3 Star ACs segment is anticipated to dominate the market share. This dominance is attributed to the advantages offered by 3 Star ACs, including high energy efficiency and durable copper condenser coils that operate on variable-speed compressors, alongside manufacturers' increasing focus on crafting energy-efficient air conditioners. However, it is projected that the 5 Star ACs segment will witness the highest compound annual growth rate (CAGR) during the forecast period.

Based on end user, the Europe air conditioners market is categorized into residential, commercial, and industrial end users. In 2023, the residential segment is forecasted to hold the largest portion of the market. This dominance is primarily due to the expanding adoption of smart home technologies, heightened emphasis from construction firms on providing air-conditioned residences, and an increasing demand to enhance indoor air quality. Furthermore, it is anticipated that the residential segment will experience the highest compound annual growth rate (CAGR) throughout the forecast period.

Based on geography, the Europe air conditioners market is divided into several regions including the U.K., Germany, France, Italy, Spain, the Netherlands, Switzerland, Poland, Norway, Sweden, Denmark, Ireland, Russia, and the Rest of Europe (RoE). In 2023, Italy is projected to hold the largest share of the market. This dominance is attributed to the escalating demand for residential air conditioners driven by rising temperatures, increased need for space cooling, growing comfort requirements, and rising income levels in the country. Additionally, the growing preference for comfortable residential spaces and higher ownership rates of residential apartments are motivating consumers to install AC units, further bolstering market growth in Italy throughout the forecast period.

Nevertheless, France is expected to experience the highest compound annual growth rate (CAGR) during the forecast period. This growth is fuelled by several factors, including the expanding accessibility of air conditioning units in France, the heightened focus of AC manufacturers on growth strategies such as acquisitions to broaden their foothold in the French market, the growing demand for air conditioners driven by changing climatic conditions, and the wide array of financing options available for purchasing air conditioners in the country.

Key Players:

The Europe air conditioners market is populated by several prominent players including Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited (Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric Appliances Inc. (China), and Midea Group Co. Ltd (China).

Download Sample Report Here @ https://www.meticulousresearch.com/pressrelease/927/europe-air-conditioners-market-2030

Key Questions Answered in the Report:

  • Identify the market segments experiencing significant growth based on type, tonnage, technology, rating, and end user.
  • What were the past market dimensions for air conditioners in Europe?
  • What are the anticipated market projections and estimations spanning from 2023 to 2030?
  • What are the primary factors motivating, limiting, providing avenues for growth, and posing obstacles within the air conditioners market in Europe?
  • Which companies hold significant positions in the Europe air conditioners market, and what are their respective market shares?
  • How would you describe the competitive environment within the air conditioners market in Europe?
  • What are the latest advancements or updates observed within the air conditioners market in Europe?
  • What approaches are being taken by key players in the European air conditioners market?
  • Could you summarize the significant geographical patterns and identify the countries experiencing notable growth within the air conditioners market in Europe?
  • Which local up-and-coming companies are active in the European air conditioners market, and how do they fare against established players in terms of competition?

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