Summary of our market study

The French HVAC market is estimated to be worth 7.4 billion euros by 2022.


The global HVAC market has experienced robust growth. It was valued at around $136.3 billion in 2022, and is expected to reach $236.20 billion in 2030, with an average annual growth rate of 6.3% between 2023 and 2030

The French market has also seen impressive growth, almost doubling in size between 2015 and 2022, and was valued at 7.4 billion euros in 2022.

Cooling is the dominant segment, with 54.8% of the market.

Growth in the French market stems mainly from renewable energy consumption in the heating sector, which rose by 81.55% between 2006 and 2021, with wood-energy predominating (63%).

Regulation plays a key role, with eco-loans and other government incentives encouraging the adoption of cleaner, more energy-efficient HVAC systems. This is evidenced by the rise in the number of eco-loans granted for renewable energy heating systems, which reached 61,034 in 2021, an increase of 45% on 2020.

The number of HVAC companies and employees in France has also increased, with a 20.5% rise in companies and a 17.5% rise in employees between 2016 and 2021.

HVAC offerings include a variety of heating and ventilation solutions, and prices have risen by 22.02% from 2015 to 2022. The residential sector, in particular, is benefiting greatly from government schemes such as "Un coup de pouce pour les économies d'énergie", MaPrimeRenov, and éco-prêtsts, while the public sector is supported by the decree on the renovation of tertiary buildings, which aims to reduce energy consumption by 60% by 2050.

The main market players range from generalists like the Vinci Group and Bouygues Construction to specialist companies like Daikin, while the rebound in construction activity is crucial, particularly in the energy renovation segment.

dynamics of the HVAC market in France

The French HVAC market, closely linked to the construction industry and strictly regulated by environmental concerns, has experienced strong growth in recent years.

The French government has introduced measures such as the zero-rate eco-loan to provide financial support to homeowners seeking to improve their energy efficiency. This government impetus has accelerated the installation of greener heating systems such as renewable energy heating and gas and oil condensing boilers.

Between 2016 and 2021, the number of eco-loans granted rose by 45%.

The link between the HVAC sector and construction is becoming clear. A large proportion of sales in the HVAC market come from maintenance and retrofit activities, which account for almost 70% of the market. The remainder is attributed to new construction.

Geographically, HVAC companies are mainly concentrated in the south and north-east of France, with the Île-de-France region home to the largest number of companies.

Price trends reflect the general inflationary climate, with a general price index for HVAC maintenance and improvement services rising by over 20% from 2015 to 2022.

Several key players have established a strong presence

  • Dalkia is known for its comprehensive energy services, offering innovative solutions that are both efficient and sustainable. An EDF subsidiary, it echoes the Group's commitment to environmental excellence and plays a leading role in the HVAC sector.
  • Engie, formerly GDF Suez, is a global energy player and an expert in the heating, ventilation and air-conditioning sector. The company's extensive services range from simple installations to complex energy management systems.
  • Spie is an independent European leader in multi-technical services. It supports its customers throughout the lifecycle of their projects in areas such as energy transition and digital transformation.
  • CDL Elec is a major distributor of electrical equipment, including heating, ventilation and air-conditioning systems. Its well-established distribution network strengthens its market position.
  • Vinci is a global player with deep roots in the construction sector, and its expertise naturally extends to HVAC systems.
  • Eiffage, another major French construction company, extends its services to the field of heating, ventilation and air conditioning.
  • Bouygues Construction brings innovation and sustainability to its projects. The company is heavily involved in the development of environmentally-friendly buildings that require efficient HVAC systems.
  • We can also mention Climat de l'air, Idex, Snef, Patricola and MCI, all of whom offer tailor-made HVAC solutions
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Summary and extracts

1 Market overview

1.1 Overview and definition of the HVAC market

HVAC technology encompasses all installations for heating, ventilating and air-conditioning a building, whether commercial or industrial .

Several activities are grouped together in the HVAC market:

  • Gas and oil-fired boilers
  • Heat pumps
  • Air conditioning
  • Ventilation and air treatment
  • solar equipment
  • Water radiators
  • Filtration
  • Wood-fired boilers

Thanks to the development of technology and growing demand for energy-efficient products, the global HVAC market is expected to grow at a CAGR (compound annual growth rate) of 6.3% over the period 2023-2030. The French market is also promising, having almost doubled in size between 2015 and 2022[UNICLIMA].

Indeed, HVAC engineering is a business with a strong sustainable development and energy-saving component, since its aim is to develop solutions for regulating the temperature of business premises or homes. Because of its importance, HVAC is closely linked to renewable energies (solar, biomass, condensing boilers, biogas, etc.).

In France, the market has been growing steadily since 2020, and is set to continue to do so in the years ahead.

The HVAC industry is therefore highly dependent on the health of the construction market and on regulatory advances in environmental protection.

1.2 The global HVAC market

The global HVAC systems market was valued at ***.* billion USD in ****, and is expected to grow at a CAGR (***) of *.*% over the period ****-****, reaching a value of ***.** billion USD. The biggest consumers of HVAC systems are Asia-Pacific, which accounts for **% of the market, and the USA, with a market share ...

1.3 HVAC engineering in France: a sector linked to construction and changing regulations

According to the trade federationUniclimathe HVAC market in France represented **.* billion euros in ****, including *.* billion euros in exports. As a result, the French HVAC market represented *.* billion euros in ****.

If we consider that the evolution of the sales index for the "heating and air-conditioning installation work" sector corresponds to that for ...

1.4 Impact of the Covid-19 pandemic

given the variety of services included in the HVAC sector, the impact of the pandemic varied according to activity. In general, the HVAC sector was able to limit the impact of the crisis thanks to growth in certain sectors, even if some segments were hard hit, for example due to the ...

2 Demand analysis

2.1 Overview of the sector and business segments

The construction sector as a whole

The HVAC sector is closely linked to the construction industry. We therefore need to take a close look at the available data on construction in France, demand and its evolution.

On the building market, the FFB (***).

Source: ****

The different markets for metal construction; Public ...

2.2 Renewable energies gain ground

Among heating and energy options, renewable energies seem to be playing an increasingly important role in consumption.

Total primary consumption of renewable energies for heat production France, ****-****, in thousands of kilotonnes of oil equivalent Source: ****

In ****, total primary consumption of renewable energies in France amounted to approximately *,*** kilotonnes of oil ...

2.3 Regulations drive demand for less polluting products

Number of eco-loans granted in ****France, in units

Source: ****

Supported byeco-loan "a zero-interest loan granted by the French government to finance energy-efficient home improvements, the number of insulation and heating systems using renewable energies is on the rise. The number of eco-loans granted is rising year on year, reaching **,*** in **** (***).

number ...

3 Market structure

3.1 Market value chain

According to the Bouygues Energie website, the HVAC value chain has four main components

Large companies oversee work for the public and corporate sectors. They can draw on their complementary activities and strong geographical coverage. Smaller companies focus on work and maintenance for private customers.

3.2 Companies in the market

We can use NAF code **.**B to study companies in the HVAC sector in France. Companies registered under this NAF code mainly install heating and air-conditioning equipment.

growth in the number of HVAC companies France, ****-****, in units Source: ****

The graph above shows that the number of companies operating in the ...

3.3 Strong competition due to proximity to market

According to forceplus.comthere are a wide variety of channels that can be used to capture customers

Telephone prospecting Website attractiveness: referencing, content, etc. Targeted e-mail prospecting Chat bot Creation of HVAC content Relations with technical centers

According to a Force Plus study, **% of customers in this sector use at least ...

3.4 The main market players

The HVAC market is dominated by the major energy services companies: Engie, Dalkia, Veolia and SPIE. Engie is by far the market leader. In ****, following the acquisition of a majority stake in SUEZ, Véolia saw a sharp increase in sales, placing it in third position in this market.

These groups' ...

4 Offer analysis

4.1 Different types of installation

Heating and air conditioning

Due to the many areas included in HVAC, there is a wide variety of offers and solutions. When it comes to heating, the solution to be adopted depends primarily on the volume of the building to be heated. Depending on requirements, heating may be gas or electric, ...

4.2 Price trends and the quality challenge for installers

To get an idea of price trends in the HVAC sector, we can observe the evolution of the price index - base *** in **** (***) given byInsee.

In the graph below, we can see a steady rise in the price index, from *** in **** to ***.** in ****, an increase of **.**%. This sharp acceleration in **** can ...

5 Regulations

5.1 Strong government incentives for the residential sector

The regulatory environment changes regularly, but remains highly promising for the residential sector

The French Ministry of Ecological Transition and Solidarity has launched the " A helping hand for energy savings " which enables households to benefit from a bonus ranging from ** to *,*** euros to reduce their carbon footprint. Available according to income ...

5.2 Non-residential regulation supports industry activity

The decree on the renovation of tertiary buildings, published in the Journal Officiel on May *, ****, aimed to improve the energy efficiency of commercial buildings. The aim is to achieve a **% reduction in energy consumption between **** and ****. Intermediate targets have been set for each **-year period

**% reduction in energy consumption by ...

6 Positioning the players

6.1 Segmentation

Generalist" companies whose activities include HVAC

Dalkia Engie Spie CDL Elec Vinci Eiffage Bouygues Construction Daikin

Specialized" companies

Air conditioning Climat de l'air Idex Snef Patricola MCI

  • Dalkia
  • CDL Elec
  • Vinci Groupe
  • Eiffage Groupe
  • Bouygues Construction
  • Daikin (France)
  • Climater Groupe
  • Air Climat
  • Snef
  • Patricola
  • MCI
  • INEO (Engie Energie Service)
  • Jimmy Energy
  • F2A
  • Eiffage Énergie Systèmes
  • Vinci Energies
  • Axima Concept (Engie)
  • Suez Groupe
  • Axenergie
  • CEME Groupe
  • Idex
  • Airwell (Systemair Groupe)
  • Joncoux Sphering Groupe

List of charts presented in this market study

  • Sales trends in the HVAC market
  • Market breakdown by use
  • Global HVAC market breakdown by location of use
  • Total primary consumption of renewable energies for heat production
  • Trend in the share of renewable energy in gross final consumption
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Latest news

Jimmy, the nuclear boiler that decarbonizes industry - 27/06/2024
  • - Heat production accounts for 45% of final energy consumption in France.
  • - 50% residential, 30% industrial, 20% commercial.
  • - 60% of this heat is carbon-based, mainly via natural gas.
  • - Development of generators based on HTR technology.
  • - 50 million euros raised by 2022 for industrialization, plus 32 million euros in government subsidies.
  • - Plant scheduled to open in 2025 in Le Creusot, Saône-et-Loire, employing 300 people
  • - First reactor scheduled for 2026 if approvals are obtained quickly.
  • - First customer: Cristal Union to decarbonize its heat production at the Bazancourt plant (51).
  • - A boiler emits one tonne of radioactive waste over a 20-year cycle, 20% of which is highly radioactive.
  • - 200 Jimmy generators would represent a 1% increase in the amount of radioactive waste produced in France.
Bouygues Construction sets up temporary factories near its projects - 18/06/2024
  • Transformation towards industrialization and digitization: Bouygues Construction is stepping up the industrialization of construction, including digitization and prefabrication/modularization.
  • The "BRYCK "** digital platform: Developed in collaboration with Dassault Systèmes, used this year on a dozen new housing sites for their industrialization potential.
  • Industrial partnership with TH for modular wood projects.
  • Temporary factory set up near the site of the future Tremblay-en-France prison to produce 800 3D concrete modular elements, including 705 prison cells.
  • Bouygues Construction sales: 10 billion euros by 2023, with an international rate of 60%.
  • Bouygues Construction employs 32,500 people.
  • Bouygues Construction opts for temporary rather than permanent production sites.
Joncoux (Sphering Groupe) invests in a flue gas factory - 08/05/2024
  • - **Company**: Joncoux, specialist in flue systems, flagship of the Sphering group.
  • - **Investment**: 15 million euros.
  • - **Target sectors**: Wood-energy and gas, renovation market.
  • - **Share of single-family homes in business**: More than half.
  • - **Sphering sales in 2023**: €190 million (down 15%).
  • - **Founding of the Sphering Group**: In 1919 in Rennes.
  • - **Sphering production sites**: 8 in Europe (Poland, Czech Republic, Belgium, Italy).
  • - **Number of employees**: Around a thousand.
Battery recycling: Suez hopes to supply China's Envision gigafactory in Douai - 08/05/2024
  • Creation of France's first zero-emission battery industrial park.
  • Construction of a battery gigafactory with a capacity of 9 gigawatt-hours, representing an investment of 2 billion euros and the creation of 2,500 jobs by 2030.
  • In partnership with Eramet, Suez will develop a complex to recycle batteries and extract essential metals such as lithium, cobalt and nickel.
  • The battery recycling plant should be operational by 2027.
  • Suez sales in China: one billion euros.
  • Suez workforce: 40,000 people in 40 countries.
  • Global Suez sales in 2023: 9 billion euros.
Construction: Eiffage strengthens its position in Germany - 24/04/2024
  • The construction group's subsidiary Eiffage Energie Systèmes acquires German network infrastructure specialist EQOS.
  • Eiffage already generates around 10% of its sales in Germany
  • subsidiary Eiffage Energie Systèmes achieved sales of 5.9 billion euros in 2023
  • EQOS specializes in network infrastructure: energy transmission and distribution; electrification of rail networks; telecommunications.
  • EQOS has operations in Austria, Belgium, France and Luxembourg.
  • With around 1,700 employees and 43 sites, the company generated sales of 459 million euros in 2023.
  • Eiffage's Energie Systèmes branch in Germany already employs almost 3,000 people, with total revenues approaching 630 million in 2023.
Construction: Eiffage breaks the billion euro profit barrier - 29/02/2024
  • The company's sales in 2023 were 21.8 billion euros, an increase of 7.4%.
  • Group net income (RNPG) increased by 13.1% to reach 1.01 billion euros in 2023.
  • Eiffage's Travaux division posted sales of 18.2 billion euros, an increase of 7.1%.
  • The Energy Systems division posted growth of almost 12%, with revenues of around 6 billion euros.
  • The Concessions Division's revenues rose by over 9% in 2023, reaching 3.65 billion euros.
  • Infrastructure Division orders rose by over 6 billion euros to 14.4 billion.
  • The Energy Systems Division's order book increased by 21% to 6.5 billion.
  • The Construction Division's order book increased by 3% to 5.1 billion.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

CDL Elec
Vinci Groupe
Eiffage Groupe
Bouygues Construction
Daikin (France)
Climater Groupe
Air Climat
INEO (Engie Energie Service)

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