Heating & Cooling - EAEU | Statista Market Forecast

In 2024, the revenue in the Heating & Cooling market in the EAEU amounts to US$3.04bn.
It is projected to experience an annual growth rate of 3.27% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue, reaching US$126bn in 2024.
Looking at the per person figures, in 2024, the EAEU generates revenues of US$16.63 per person.
EAEU is experiencing a surge in demand for energy-efficient heating and cooling solutions, driven by growing environmental concerns and government incentives.

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.

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

Air treatment devices (purifier, humidifier, etc.)
Ventilators
Solar systems for heating support

The Heating & Cooling market in DIY & Hardware Store market in EAEU nan is showing minimal growth due to factors such as increasing competition, slow economic growth, and limited consumer spending. Despite the convenience of DIY solutions, demand remains stagnant.

Customer preferences: With the EAEU region experiencing colder winters and hotter summers, there has been a notable increase in demand for energy-efficient and cost-effective heating and cooling solutions. This trend has been largely influenced by the growing awareness and emphasis on sustainability and environmental conservation. As a result, consumers are now opting for energy-efficient and eco-friendly heating and cooling products, such as smart thermostats and geothermal heat pumps. Additionally, with a rise in DIY culture and home renovation projects, there is a growing preference for easy-to-install and user-friendly heating and cooling products, further driving the market for these products within the DIY & Hardware Store Market.

Trends in the market: In the EAEU, the Heating & Cooling Market within the DIY & Hardware Store Market is experiencing a shift towards energy-efficient and eco-friendly products. Consumers are becoming increasingly aware of the impact of their energy consumption on the environment and are seeking more sustainable options. This trend is expected to continue as governments implement stricter energy efficiency regulations and consumers prioritize environmentally-friendly products. For industry stakeholders, this trend presents opportunities for innovation and differentiation, but also challenges in terms of adapting to new regulations and consumer demands. Overall, this trend is set to shape the future of the Heating & Cooling Market within the DIY & Hardware Store Market in the EAEU.

Local special circumstances: In the EAEU region, the Heating & Cooling market within the DIY & Hardware Store Market is heavily influenced by the harsh and extreme weather conditions experienced in many of the member countries. This has led to a high demand for energy-efficient and durable heating and cooling products, as well as a focus on environmentally friendly solutions. Additionally, varying local regulations and standards in each country create unique challenges and opportunities for businesses operating in this market.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market is primarily driven by macroeconomic factors such as consumer spending, housing market trends, and technological innovations. Certain countries within the EAEU, such as Russia and Kazakhstan, have experienced significant growth in home ownership and renovation projects, leading to increased demand for heating and cooling products. Additionally, government initiatives promoting energy-efficient solutions have also played a role in driving market growth. However, economic challenges in some EAEU countries, such as Belarus and Kyrgyzstan, may hinder market growth in these regions. Overall, the growth of the Heating & Cooling Market is closely tied to the economic health of the region and consumer purchasing power.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

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.