Heating & Cooling - EMEA | Statista Market Forecast

Revenue in the Heating & Cooling market amounts to US$35.48bn in 2024. The market is expected to grow annually by 3.84% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$126bn in 2024).
In relation to total population figures, per person revenues of US$14.53 are generated in 2024.

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 the EMEA nan region is experiencing minimal growth driven by factors such as consumer preference for DIY solutions, increasing environmental concerns, and availability of energy-efficient products. This slow growth rate is impacted by market saturation and economic uncertainty in the region.

Customer preferences: The DIY & Hardware Store Market in EMEA is experiencing a rise in demand for energy-efficient and sustainable heating and cooling solutions. This can be attributed to the growing awareness of climate change and an increasing focus on reducing carbon footprint. Additionally, consumers are seeking environmentally-friendly options for their homes, and this trend is expected to continue with the rise of eco-consciousness. Furthermore, there is a shift towards smart home technology integration, enabling consumers to control and monitor their heating and cooling systems remotely, resulting in convenience and energy savings. This trend is also influenced by the growing interest in home automation and the desire for a connected and seamless living experience.

Trends in the market: In EMEA, the Heating & Cooling Market within the DIY & Hardware Store Market is experiencing a shift towards environmentally-friendly products. This trend is driven by consumer demand for sustainable and energy-efficient solutions. As a result, companies are investing in research and development to create more eco-friendly options. Additionally, there is a growing trend of smart home technology in the heating and cooling sector, with consumers seeking convenient and connected solutions. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in innovative technologies to stay competitive in the market.

Local special circumstances: In Europe, the Heating & Cooling Market within the DIY & Hardware Store Market is influenced by the continent's cold climate and high energy costs, leading to a demand for efficient heating and cooling solutions. In the Middle East, the market is driven by the extreme heat and a growing population, with a focus on air conditioning for both residential and commercial spaces. Additionally, regulations promoting energy-efficient products and the increasing trend of DIY home improvement projects have also fueled market growth in these regions.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market is significantly impacted by macroeconomic forces in EMEA. This includes global economic trends, national economic health, fiscal policies, and other financial indicators. Strong economies and favorable fiscal policies can lead to higher consumer spending and investments in home improvement projects, boosting the demand for heating and cooling products. In countries with weak economies or inconsistent fiscal policies, the market may face challenges in growth. Additionally, the growing trend towards energy efficiency and sustainability is driving the demand for eco-friendly heating and cooling solutions in the region.

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.