Heating & Cooling - Greece | Statista Market Forecast

In Greece, the revenue in the Heating & Cooling market for 2024 is estimated to be US$156.70m.
It is projected to have an annual growth rate of 0.90% (CAGR 2024-2029).
Comparing globally, United States generates the highest revenue in this market, with US$126bn in 2024.
In terms of per capita figures, in Greece generates revenues of US$15.21 per person in 2024.
Greece's heating and cooling market is witnessing a surge in demand for energy-efficient air conditioning systems to combat the country's scorching summers.

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 Greece is experiencing minimal growth, due to factors such as limited consumer interest and economic challenges. However, the Heating & Cooling Market within this industry is seeing steady growth, driven by the increasing popularity of DIY home improvement projects and the convenience of online shopping for heating and cooling products.

Customer preferences: As the importance of energy efficiency and sustainability grows, consumers in Greece are increasingly turning to advanced heating and cooling solutions, such as smart thermostats and energy-efficient HVAC systems. This trend is driven by a combination of rising energy costs, government incentives and a growing awareness of environmental concerns. Additionally, there is a growing preference for DIY options as consumers place greater value on being self-sufficient and saving money. This has led to a shift towards DIY-friendly products such as easy-install smart thermostats and energy-efficient insulation materials.

Trends in the market: In Greece, the DIY & Hardware Store Market is experiencing an increase in demand for energy-efficient products, including heating and cooling systems. This trend is driven by the country's efforts to reduce its carbon footprint and combat climate change. As a result, industry players are offering more eco-friendly options and promoting them through marketing campaigns. Additionally, there is a growing trend towards smart home solutions, such as thermostats and air conditioning units, which allow for remote monitoring and control. This reflects the increasing adoption of technology in the country and presents opportunities for hardware stores to expand their product offerings. However, it also poses a challenge for smaller businesses to keep up with the rapidly changing market and invest in new technologies.

Local special circumstances: In Greece, the DIY & Hardware Store Market is heavily influenced by the country's geographical and cultural landscape. The mountainous terrain of Greece makes it challenging for traditional brick and mortar stores to reach remote areas, leading to the rise of online DIY retailers. The Greek culture also values DIY and self-sufficiency, resulting in a significant demand for DIY products in the market. Additionally, strict building regulations in Greece have created a demand for high-quality heating and cooling systems, making it a lucrative market for manufacturers and retailers in the DIY & Hardware Store Market.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Greece is affected by macroeconomic factors such as consumer spending, economic stability, and government policies. The global trend towards energy-efficient and eco-friendly products is driving the demand for heating and cooling systems in Greece. Moreover, the country's economic recovery and rising disposable income are encouraging consumers to invest in home improvement and renovation projects, which includes upgrading their heating and cooling systems. Government initiatives promoting energy efficiency and the use of renewable energy sources are also contributing to the growth of the market. However, the ongoing economic crisis and high unemployment rates in Greece may slow down the market growth to some extent.

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.