Heating & Cooling - EU-27 | Statista Market Forecast

In the EU-27, the revenue generated in the Heating & Cooling market in 2024 amounts to US$15.16bn.
It is projected to experience an annual growth rate of 3.14% (CAGR 2024-2029).
When compared globally, United States leads in revenue generation, with US$126bn in 2024.
On a per person basis, the revenue generated in the EU-27 in 2024 amounts to US$33.88.
Germany leads the way in the EU-27 Heating & Cooling market with its strong focus on energy efficiency and sustainable heating 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.

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 DIY & Hardware Store Market in EU-27 nano is facing limited growth, influenced by factors such as low consumer interest and the availability of alternative options. Factors such as increasing use of technology and rising temperature fluctuations have contributed to this trend.

Customer preferences: As consumers become more environmentally conscious, there is a growing demand for sustainable and energy-efficient heating and cooling solutions. This is reflected in the rising popularity of smart thermostats and home automation systems. Additionally, with an aging population, there is a growing need for accessible and ergonomically designed products in the heating and cooling market, catering to the needs of seniors and those with disabilities. This trend is expected to drive innovation and product development in the DIY and hardware store market.

Trends in the market: In the EU-27, the Heating & Cooling Market within the DIY & Hardware Store Market is seeing a rise in demand for energy-efficient and eco-friendly options. This trend is driven by increased awareness of climate change and a desire to reduce energy costs. As a result, there is a growing demand for smart and connected heating and cooling systems that can be controlled remotely. This trend presents significant opportunities for industry stakeholders, as they can capitalize on the growing demand for sustainable solutions and innovation in the market. Additionally, government regulations promoting energy efficiency and sustainability are likely to further drive this trend and create a competitive advantage for companies in the market.

Local special circumstances: In France, the Heating & Cooling market within the DIY & Hardware Store Market is heavily influenced by the country's strict energy efficiency regulations. The French government has set ambitious targets for reducing energy consumption and increasing the use of renewable energy sources, resulting in a growing demand for energy-efficient heating and cooling solutions. Additionally, the country's focus on sustainability has also led to increased consumer awareness and demand for eco-friendly products, further driving the growth of the market. In Germany, the market is driven by the country's high standards for building energy efficiency and a strong DIY culture. German consumers value affordable and efficient heating and cooling options, making DIY and hardware stores a popular choice for purchasing these products. The government's focus on renewable energy and phasing out fossil fuels has also contributed to the growth of the market, with a strong demand for solar-powered and other sustainable heating and cooling solutions.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in EU-27 is affected by various macroeconomic factors. The global economic trends, such as the rising demand for energy-efficient and eco-friendly products, are driving the growth of the market. At the national level, the economic health of a country, including consumer spending, housing construction, and renovation activities, has a significant impact on the demand for heating and cooling systems. Fiscal policies, such as tax incentives and subsidies for energy-efficient products, also play a crucial role in shaping the market. Other financial indicators, such as interest rates and inflation, can influence consumer purchasing power and hence, the demand for heating and cooling products.

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.