Heating & Cooling - Europe | Statista Market Forecast

In Europe, the revenue generated in the Heating & Cooling market is estimated to reach US$26.77bn in 2024.
It is projected that the market will experience an annual growth rate of 3.44% from 2024 to 2029 (CAGR 2024-2029).
When comparing the revenue on a global scale, United States leads the way with a staggering US$126bn in 2024.
Looking at the per capita figures, in 2024, each person in Europe contributes US$31.72 to the revenue in the Heating & Cooling market.
In Germany, the trend in the heating and cooling market is a shift towards more energy-efficient and sustainable solutions, such as heat pumps and solar thermal systems.

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 within the DIY & Hardware Store market in Europe is experiencing negligible growth, impacted by factors such as slow adoption of digital technologies and low consumer awareness of online services. Despite convenience, the market struggles to see significant growth.

Customer preferences: One notable trend in the European Heating & Cooling Market within the DIY & Hardware Store Market is the growing demand for energy-efficient products. This can be attributed to an increasing awareness of environmental concerns and a desire to reduce energy costs. As a result, there has been a rise in sales of smart thermostats and energy-efficient cooling systems. Consumers are also opting for products with eco-friendly features, such as using renewable energy sources and reducing carbon emissions. This trend is likely to continue as individuals become more conscious of their impact on the environment.

Trends in the market: In Europe, the Heating & Cooling Market within the DIY & Hardware Store Market is experiencing a rise in smart heating and cooling systems. These systems allow consumers to control temperature settings remotely, providing convenience and potential energy savings. In addition, there is a growing trend towards eco-friendly products, leading to the development of more sustainable heating and cooling solutions. This trend is expected to continue in the future as consumers become more environmentally conscious. As a result, industry stakeholders should focus on incorporating smart and sustainable technologies in their products to stay competitive in the market.

Local special circumstances: In some parts of Europe, such as Germany and Scandinavia, there is a strong culture of DIY and self-sufficiency, leading to a high demand for heating and cooling systems in hardware stores. Additionally, due to regulations promoting energy efficiency and environmental sustainability, there is a growing trend towards eco-friendly and energy-efficient products in this market. In contrast, countries in Southern Europe, such as Spain and Portugal, have a warmer climate and a less developed DIY culture, resulting in a smaller demand for heating and cooling systems in hardware stores. However, with the increasing awareness and adoption of sustainable practices in these countries, there is potential for growth in the DIY and hardware store heating and cooling market as well.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Europe is affected by various macroeconomic factors. These include the overall economic health of the region, investment in infrastructure, and government policies related to energy efficiency and environmental sustainability. In addition, the market is influenced by global economic trends such as the growing demand for smart home technologies, as well as the rising awareness about the importance of energy conservation. Moreover, with countries increasingly focusing on reducing their carbon footprint, there is a growing demand for energy-efficient heating and cooling solutions, driving the growth of this market. Lastly, the aging population in Europe is also a significant factor, as there is a growing need for home comfort and convenience amongst older individuals, leading to an increasing demand for heating and cooling products within the DIY and hardware store market.

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.