Market Share of Europe HVAC Industry
The Europe HVAC Equipment Market is competitive as it is home to prominent vendors that command a prominent share of the market in different segments, along with access to well-established distribution networks. With the advent of smart solutions, it is expected to become another strategic competitive point in the market. The smart building technology incorporation across commercial and industrial sectors is expected to drive connected HAVC systems in Europe and increase the competitive rivalry among the vendors in the market.
In May 2022, NIBE Industrier AB agreed to purchase 50% of the shares of the Italian company Argoclima SpA, with the remaining interest to be acquired after five years. The acquisition will significantly strengthen the company's position in the rapidly expanding Italian heat pump industry by integrating the current Argoclima lineup with the entire NIBE. Furthermore, in July 2022, NIBE expanded its product line by releasing a brand-new air source heat pump. The NIBE S2125 is designed to meet the building's heating and hot water requirements in a comprehensive system.
In April 2022, Octopus Energy invested in Northern Irish heat pump specialists Renewable Energy Devices (RED) to build thousands of heat pumps on a monthly basis. The collaboration will disrupt the market by allowing the companies to initially build quiet, highly efficient, and stylish-looking heat pumps for customers in the United Kingdom.
In February 2022, Geoclima, an Italian chiller manufacturer, established a subsidiary in the United Kingdom. The company's Geoclima HVAC UK subsidiary would distribute all Geoclima Group brands, including ClimaTech, Hecoclima, CROM, and COM40. The statement also revealed that the company would provide in-country support to its UK clients for a variety of applications, including hospitals and mission-critical environments.
Europe HVAC Market Leaders
Daikin Industries, Ltd.
ROBERT Bosch GmbH
Mitsubishi Electric Europe B.V
Alfa Laval AB
Carrier Global Corporation
*Disclaimer: Major Players sorted in no particular order