European Air Conditioning Market Growth, Opportunity, Size & Forecast 2025
Posted by shibaomrglobal on February 28th, 2020
The major factors for the growth of the market include high urbanization, climate change, and high disposable income. The countries in the region are developed due to this the countries have to limit the usage of refrigerants as per the Montreal Protocol. A number of regulations enforcement related to fan refrigerants used in AC for the sake of environmental concern had been witnessed in the region.
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For instance, by 2030, a number of F-Gas regulations are coming into force in Europe. These include the ban of R422A, R404A, R422D, and R507 for reducing emission. The aim of these regulations is to shift towards environment-friendly technology. Due to the adverse effect of R22 and other ozone-depleting substances on the environment, modern refrigerants, such as the industry-standard R-410A, are now being used in place of conventional ones. They do not damage the ozone layer and are widely adopted in UK.
The market has been segmented by application and refrigerant type. By application, the market is segmented into residential, commercial, industrial, and others. Residential is expected to have a major market share in the near future. By refrigerant type, the market is segmented into HCFC, HFC, HFO, and natural refrigerant. HFO and natural refrigerant will have major market growth during the forecast period. The market is further studied on the basis of geography, and segmented into UK, Germany, France, Italy, Spain and the Rest of Europe. Germany, UK, France are expected to have a significant market growth during the forecast period.
The companies which are contributing to the growth of the market include Daikin Industries Ltd., Electrolux AB, Fujitsu General Ltd., LG Electronics Inc., Mitsubishi Electric Corp., Samsung Electronics Co., Ltd., Toshiba Corp., Trane Inc., United Technologies Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
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European Air Conditioning Market Segmentation
By Refrigerant Type
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Joined: June 17th, 2019
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