Eurovent Market Intelligence (EMI) has published its special annual report on the HVACR industry in 2021. It mainly investigates the market’s post-pandemic situation by product, country, and application, including a 5-year forecast (2020-2024) for each subchapter, as well as the main market drivers and challenges.
The main information in the report ‘European HVACR Market: Post-Pandemic Trends and Key Challenges’, is a synthesis of qualitative survey results from the HVACR manufacturers (203 respondents from 19 countries), interviews conducted with professionals in the HVACR sector, macroeconomic data, and the EMI database.
Market Situation
The report shows that the post-pandemic recovery was formed differently among European markets.
Some markets accelerated well particularly in the first half of 2021 but experienced a slowdown in the second half; while others remained stagnant in the first half, expecting to gain pace during the second half of 2021. Some of the biggest European HVACR markets expect double-digit growth in 2021 to compensate for the loss of 2020.
Residential market growth
The residential market expects the highest growth in 2021. This is due to domestic heat pumps which now come with many incentives. Health and data centers declined in 2021 despite the unusual development they had in 2020, however, they continue to grow.
A dedicated chapter on key challenges can be found in the report as well
On the other hand, the HVACR forecasts for transport, hotels, leisure, and entertainment remained at the bottom of the list with no visible recovery. In the refrigeration sector, industrial refrigeration has taken the lead on recovery in 2021.
Almost all product groups have entered a recovery period at different speed rates in 2021, except for chilled beams, which have remained stagnant. For most products, a strong rebound from the pandemic was visible in the first half of the year, however, the market slows down during the second half of 2021 due to other challenges.
HVACR industry faces challenges even after COVID-19
The HVACR industry continues to be challenged even after the COVID-19 peaks. Some of the main concerns regarding the industry are the post-pandemic developments such as supply chain problems and European regulations. A dedicated chapter on key challenges can be found in the report as well.
The 114-page report contains all the detailed information including charts, qualitative comments, and trends. It is available for sale at a price of 6.000 EUR (excl. VAT).
