According to the most recent report from the Expert Market Research consultancy, the prospects for the international industrial air conditioning sector in 2023 are very promising. The increasing preference for condensing boilers and the growth of construction activities will be the main drivers of the industry.
In Europe, the situation will be no different. In addition to the global drivers mentioned, the need for efficient air conditioning will also continue to be a growth factor for the sector worldwide. This is precisely due to the objectives and resolutions of the European Union regarding decarbonization and climate change control.
It is pertinent to note that the air conditioning or HVAC industry is made up of companies that manufacture and install structures, equipment, and technologies for heating, air conditioning, and ventilation.
International industrial air conditioning in 2023: current situation and prospects worldwide
In 2021, the global HVAC market achieved an estimated value of US$198.45 billion, according to Expert Market Research. Furthermore, the aforementioned consultancy forecasts that the industry in question will grow at a compound annual growth rate (CAGR) of 5.1%, from 2023 to 2028. From this perspective, it will probably reach a value close to USD 219,208 million. in 2023 and 278.96 billion in 2027.
Currently, North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa are the main regional markets for HVAC.
Preferential demand for condensing boilers will boost international industrial HVAC in 2023
In recent years, the preference for condensing boilers has been on the rise. It should be noted that in regions with extreme climatic conditions, HVAC systems are used for both cooling and heating spaces. And, furthermore, boilers and ovens are the two main systems for obtaining higher temperatures. Oven-based technology is most in demand in North America and Asia. For their part, boiler systems are leaders in the European market. In this sense, radiant or convection heat is the main advantage of boiler systems. This is because it supplies continuous heat with a more uniform temperature.
On the other hand, characteristics such as its long useful life, its ease of maintenance, and the advanced technology controls that it incorporates make condensing boilers key systems to boost the growth of the international industrial air conditioning market in 2023.
The construction will also foster the growth of the HVAC market
The foreseeable increase in construction activities during the aforementioned period of time will favor the increase in global demand for HVAC systems. In parallel, factors such as the increase in population, the increase in disposable income, and the accelerated urbanization process will decisively boost the air conditioning market.
Overall, the expansion of buildings for all end-use sectors, including industrial, as well as the ability to drastically reduce energy consumption will drive growth in the global heating, ventilation, and air conditioning market. In this regard, the tendency to build zero-net consumption buildings will positively influence the industry in question. These buildings are capable of reducing energy consumption, so their popularity will increase. Such a situation will undoubtedly contribute to the development of the non-residential sector in the next five years and drive the growth of the HVAC industry.
Situation and expectations of the European industrial air conditioning market in 2023
As regards the air conditioning sector in Europe, the outlook is also for sustained growth, according to the ReportLinker report. The aforementioned research confirms that the European HVAC equipment market will experience year-on-year growth of more than 6% during the period 2023-2028. And we must take into account that in 2022, the market for this sector in the region was valued at almost 43 billion dollars. Consequently, industrial HVAC in 2023 could approach 45.5 billion and 61 billion by the end of the forecast period.
Current situation by subregions
By subregions, Western Europe accounted for most of the European HVAC market, obtaining a total value of 34,260 million dollars in 2022. Regarding demand, in the aforementioned subregion air conditioning systems lead. Indeed, this market growth is mainly attributed to high temperatures in urban centers caused by pollution.
For its part, in the Central and Eastern European subregions the HVAC industry obtained a value of 8.65 billion dollars in 2022. Specifically, air conditioning and heating systems are the most demanded products. However, the installation is also becoming highly required in those countries. New HVAC technologies are being adopted as they are energy efficient and green. Likewise, air or water heat pumps are experiencing significant growth, in parallel with traditional boilers. However, it should be noted that in this subregion the characteristics of the market vary according to each country.
By the way, other factors driving the HVAC industry in Central and Eastern Europe are the increasing purchasing power of the middle class and private investment in the construction sector.
Perspectives of the international industrial air conditioning sector in 2023 in AC and heating
In reality, there is very strong competition in the heating system industry in Europe, due to the harshness of the winter in the region. Normally, heating equipment is bulky; the reason that justifies the presence of so many local vendors. Apart from that, the maintenance service required by these infrastructures increases the billing.
On the other hand, the air conditioning industry has a wide variety of national and multinational vendors, is seasonal, and incorporates up-to-date technology. In this segment alone, the European HVAC market was valued at $22.66 billion in 2022. The countries with the highest demand for AC in Europe are France, Germany, Italy, the United Kingdom, and Spain.
Energy efficiency will also be a growth factor
In the same way, the EU’s 2030 and 2050 decarbonization and climate change control objectives are driving the development of efficient air conditioning in the region. In this context, energy-efficient HVAC technologies for residential and commercial buildings will provide environmental and economic benefits in the European market. Optimizing energy-efficient HVAC systems and a well-planned installation process could achieve potential energy savings of up to 40%. Therefore, the necessary replacement of existing equipment with much more efficient technologies will give a huge boost to the growth of the European industrial air conditioning market in 2023 and in the following years.
At Intersam we closely follow the evolution of international industrial air conditioning
Since 1995, at Intersam we design and develop industrial and commercial refrigeration and air conditioning systems. All our products and facilities have state-of-the-art technology that guarantees effective performance and the highest energy efficiency.
Our presence in large-scale projects and events inside and outside Spain shows that we are among the most prominent players in international industrial air conditioning in 2023.