Market Size of Europe Cooling Systems Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Cooling Systems Market Analysis
The Europe cooling systems market is expected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market now reached pre-pandemic levels.
- Over the medium term, increasing investment in the oil and gas downstream sector is expected to drive the market's growth.
- On the other hand, the increased share of renewables in the power sector is expected to hamper the Europe cooling systems market growth during the forecast period.
- Nevertheless, increasing advancements in the cooling system technology to achieve sustainable industrial growth are likely to create lucrative growth opportunities for the Europe cooling systems market in the forecast period.
- Germany dominates the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments in the energy sector (oil and gas, power, etc.) and chemical and petrochemical industries.
