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Heating & Cooling - Croatia

Croatia
  • In Croatia, the revenue generated in the Heating & Cooling market in 2024 amounts to US$50.01m.
  • It is projected that the market will experience an annual growth rate of 2.07% (CAGR 2024-2029).
  • When compared on a global scale, United States generates the highest revenue in this market segment, with a total of US$126bn in 2024.
  • In terms of per capita figures, each person in Croatia generates revenues of US$12.54 in 2024.
  • Croatia's heating and cooling market is experiencing a growing demand for energy-efficient and environmentally-friendly solutions.

Definition:

In the segment of Heating & Cooling, the focus lies on various heating and cooling systems which can be found inside buildings. Included in this segment regarding cooling are mainly air conditioners and cooling supplies.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

In-Scope

  • Air conditioners & coolers
  • Heating systems & heaters
  • Stoves, fireplaces & chimneys
  • Heating & cooling supplies

Out-Of-Scope

  • Air treatment devices (purifier, humidifier, etc.)
  • Ventilators
  • Solar systems for heating support
Heating & Cooling: market data & analysis - Cover

Market Insights Report

Heating & Cooling: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Company Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Heating & Cooling market within the DIY & Hardware Store Market in Croatia has seen a slow growth rate, influenced by factors like a saturated market and low consumer demand. Despite this, digital technologies and online services are enabling convenience and driving market growth.

    Customer preferences:
    The Heating & Cooling Market within the DIY & Hardware Store Market in Croatia has seen a rise in demand for energy-efficient and eco-friendly options, driven by a growing awareness of environmental concerns and the need for cost-effective solutions. This trend is particularly evident among younger consumers, who prioritize sustainable living and smart home technology. As a result, there has been an increase in the availability of smart thermostats and energy-efficient HVAC systems in hardware stores, catering to the evolving preferences of consumers.

    Trends in the market:
    In Croatia, the Heating & Cooling Market within the DIY & Hardware Store Market is seeing an increase in demand for energy-efficient and eco-friendly heating and cooling solutions. This trend is being driven by consumer awareness of climate change and the need for sustainable living. As a result, manufacturers are focusing on developing products with higher energy efficiency ratings and lower carbon emissions. This shift towards greener solutions is expected to continue in the future, as consumers become more environmentally conscious. For industry stakeholders, this trend presents an opportunity to tap into a growing market for eco-friendly products, while also promoting a more sustainable lifestyle. However, it also brings challenges in terms of ensuring product affordability and availability for the average consumer.

    Local special circumstances:
    In Croatia, the Heating & Cooling Market within the DIY & Hardware Store Market is heavily influenced by the country's climate and topography. The demand for cooling products is higher in coastal regions, while heating products are more in demand in mountainous areas. Additionally, Croatia has strict energy efficiency regulations, leading to a growing demand for eco-friendly heating and cooling solutions. The country's strong DIY culture also drives the market, as many households prefer to install and maintain their own heating and cooling systems.

    Underlying macroeconomic factors:
    The Heating & Cooling Market within the DIY & Hardware Store Market in Croatia is affected by various macroeconomic factors. These include the country's economic health, fiscal policies, and global economic trends. Currently, Croatia's economy is growing steadily, with a positive outlook for the future. This, coupled with favorable fiscal policies, is driving consumer confidence and purchasing power. Additionally, the DIY & Hardware Store Market is benefiting from the increasing popularity of DIY projects among Croatian consumers, leading to a higher demand for heating and cooling products. Furthermore, the government's initiatives to improve energy efficiency in buildings have also positively impacted the market, as consumers are seeking energy-saving solutions within the heating and cooling sector.

    Methodology

    Data coverage:

    Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

    Modeling approach / Market size:

    Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

    Additional Notes:

    The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

    Consumer

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    Heating & Cooling: market data & analysis - BackgroundHeating & Cooling: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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    HVAC industry worldwide - statistics & facts

    The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences: Asia was said to have one of the largest HVAC market sizes, with a larger demand for air conditioners than in other regions. Meanwhile, Italy was one of the European countries with the biggest heat pump markets in 2020. Due to these differences between countries, there is little to no comparative information on this competitive market. In the United States alone, for example, a certain level of fragmentation can be observed, as the number of employees in the plumbing and HVAC industry varied widely from state to state.
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