New research from BSRIA highlights significant volatility in the European air conditioning (AC) market in 2024, with regional sales exceeding $18 billion. However, performance varied across countries and product segments, influenced by economic and political factors.
The water-based AC segment saw a solid annual growth rate of 5.6%, while the packaged AC segment posted a modest 1.4% increase. Renovation projects driven by the European Green Deal and National Energy Plans supported chiller sales, but economic challenges and political uncertainty in some countries hindered investment in both public and private sectors.
Residential AC sales were largely driven by replacement and refurbishment projects, but factors such as inflation, high borrowing costs, and job insecurity affected consumer confidence. Additionally, a decline in new construction activity in many European countries led to slower sales in both residential and commercial segments.
Among the major European markets, Italy, Turkey, and Spain experienced growth, while sales in France, Germany, and the UK were weaker. Scandinavian markets, including Sweden and Norway, also recorded a significant downturn. Elsewhere in Europe, market results varied widely, with some countries seeing double-digit growth while others faced double-digit declines.
Reversible systems remained in high demand, supported by strong growth in screw and scroll chillers. Reciprocating heating and cooling chillers for comfort applications also performed positively, though their market share remained small. Recent advancements have enabled the use of hydrocarbon refrigerants in reciprocating compressors, making them suitable for comfort heat pumps in countries like Switzerland, Denmark, and Norway.
BSRIA continues to provide comprehensive data and analysis on the global AC market, offering insights into sales trends, product characteristics, and market forecasts for the next five years.
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