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Summary
The global HVAC market, with a notable presence in France, has seen robust growth, with a CAGR of 6.3% between 2023 and 2030, reaching a projected value of $236.20 billion. The French market has grown impressively, almost doubling in size between 2015 and 2022 as part of this upward trend. Demand analysis shows that 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 increase 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, with price trends indicating a 22.02% increase 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. While the global market was estimated to be worth some $136.3 billion in 2022, the French HVAC market alone accounted for a substantial amount.alone accounted for a substantial 7.4 billion euros in the same year, underlining its pre-eminence within the industry.
The sustained growth of renewable energy sources for heating, which rose by an impressive 80% between the mid-2000s and the early 2020s, with wood energy commanding a significant share of the renewable sector for heating purposes, has made a notable contribution to this momentum. This increase underlines a broader market trend towards energy-efficient, environmentally-friendly heating solutions, a development further catalyzed by government regulations and incentives aimed at reducing pollution and promoting sustainable development.
The French government has adopted measures such as the zero-rate eco-loan to provide financial support for homeowners seeking to improve their energy efficiency. This government impetus has led to an upward trajectory in the adoption of greener heating systems such as renewable energy heating and gas and oil condensing boilers. For example, between 2016 and 2021, the number of eco-loans granted rose by 45%, a clear indication of the increased demand for cleaner, more energy-efficient HVAC systems.
The link between the HVAC sector and construction becomes clear when we examine the structure of the market. 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 of sales is attributed to new construction, reflecting the essential role of renovation in the evolution of the market.
In terms of employment in the sector, there has been a considerable increase of around 17.5% in the salaried workforce between 2016 and 2021, a positive sign of the sector's good health. 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.
In terms of market offerings, HVAC encompasses a wide range of products and technologies, from gas and electric heating systems to air conditioning and ventilation. The trend towards renewable energies is palpable in the market structure, with a notable increase in renewable heating options and associated equipment. Pricing trends within the industry reflected the general inflationary climate, with a general price index for HVAC maintenance and improvement services rising by over 20% from 2015 to 2022.
In the diverse landscape of the French HVAC market, several key players have established a strong presence, each contributing to the sector's robust growth trajectory. Here's a brief overview of the companies that stand out in the market:
- Dalkia is known for its comprehensive energy services, offering innovative solutions that are both efficient and sustainable. A subsidiary of EDF, 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, meeting a broad spectrum of customer needs. Engie's influence in the market is reinforced by its focus on renewable energies and energy transition.
- 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. Spie has a significant foothold in the HVAC market, offering in-depth technical expertise and cutting-edge solutions.
- CDL Elec is a major distributor of electrical equipment, including heating, ventilation and air conditioning systems. It prides itself on its wide range of products and caters to different segments, from residential to industrial customers. 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 heating, ventilation and air-conditioning systems. The company is known for its high-quality infrastructure projects, which often incorporate cutting-edge HVAC technologies.
- Eiffage, another major construction company in France, extends its services to the field of heating, ventilation and air conditioning. Eiffage's innovative approach to construction and renovation projects ensures efficient integration of HVAC systems, meeting the evolving needs of modern construction.
- 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. Committed to energy efficiency, Bouygues Construction is shaping the future of the HVAC sector.
Companies specializing in air conditioning include Climat de l'air, Idex, Snef, Patricola and MCI, all of which offer tailor-made HVAC solutions to meet unique climate control challenges. The French HVAC market is marked by a rich tapestry of companies ranging from generalists to specialists.
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- Number of pages : 30 pages
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- Last update : 20/02/2024
Summary and extracts
1 Market overview
1.1 Overview and definition of the HVAC market
HVAC technology 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.
List of charts
- 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
How Vinci is preparing its exit from French freeways - 08/02/2024
- Vinci is preparing its exit from the French freeway business for around 2035-2036.
- Vinci profit for 2023: 4.7 billion euros, an increase of 10% on 2022.
- Vinci sales for 2023: around €69 billion, an increase of 12%.
- Share of Group EBITDA generated by motorway concessions in France in 2023: 39%, down 20 points on 2006.
- Share of EBITDA generated by Vinci Airports and other concessions in 2023: 26%, up 24 points on 2006.
- Vinci is the world's leading private airport operator, with more than 70 airports in 13 countries.
- Vinci acquired the Spanish company Cobra IS for 4.9 billion euros in 2021.
- Vinci has signed an agreement to acquire a 55% stake in Brazilian concession company Entrevias by the end of 2023
- Vinci Highways operates some 4,000 kilometers of freeways in 15 countries.
- Vinci owns four highway concessions in the United States.
Decarbonization: Idex goes on the offensive - 18/12/2023
- Idex currently boasts sales of 2.3 billion euros, with EBITDA of around 150 million euros.
- Idex aims to double its EBITDA within five years.
- A competitor, Coriance, number four in the French heating network market with sales of 350 million euros, also claims to have the ambition to double in size by 2030.
- According to Benjamin Fremaux, President of the Idex Group, the heating network market now receives around a dozen bids a year, compared with two or three a few years ago.
- Idex already has 18,000 buildings in its portfolio.
Eiffage gradually builds a small energy empire - 06/12/2023
- Acquisition of Dutch Van den Pol Elektrotechniek, an SME with sales of 75 million euros last year.
- Eiffage's acquisitions have cumulative sales of just over 100 million euros on a 2022 basis.
- Eiffage Energie Systèmes recorded sales of 227 million euros in the Netherlands last year.
- Eiffage took control of Kropman, a multi-technical services company in 2018.
- 51% of Salvia Group, a company with sales of 350 million euros in 2022, was acquired by Eiffage.
- Eiffage Energie Systèmes accounted for a quarter of Eiffage's sales in 2022, with total revenues of 5.3 billion euros.
- Eiffage also took control of Pulsar Consulting in Belgium in early April 2022.
- Eiffage was an unsuccessful candidate for the acquisition of Equans, the former multi-technical services division of Engie, absorbed by Bouygues in early October 2022.
EDF : Eiffage to build Penly EPR reactors - 17/11/2023
- Eiffage has signed a contract with EDF for civil engineering work on the EPR2 nuclear reactors in Penly, worth over 4 billion euros.
- Preparatory work is scheduled to start in mid-2024, subject to obtaining the necessary administrative authorizations.
- The two EPR2 reactors at Penly are the first pair of reactors that the French government plans to launch between now and 2035-37, as part of its program to revive the nuclear industry.
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