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1 Market Overview

1.1 Definition and presentation

The HVAC market includes all systems that provide heating, ventilation, and air conditioning for a building, whether tertiary or industrial. It means anintegrated system for air quality and thermal comfort, i.e., a set of technologies, machines and systems used in indoor environments for indoor environmental well-being. The use of an HVAC system makes it possible to manage all the main factors that determine the indoor microclimate of an environment so that it is healthy, pleasant and energy sustainable, with the grouping of interconnected mechanical systems, such as air conditioners, boilers, air purifiers and heat pumps.

The value of the global HVAC market shows steady growth from 2023 to 2028. Starting from $237.74 billion in 2023, it reaches $309.69 billion in 2028. This represents a 30.26 percent increase in six years, with a compound annual growth rate (CAGR) of 5.43 percent. The market is undergoing significant transformation due to the increasing integration of Internet of Things (IoT) technology with HVAC products, making them innovative and affordable. The emphasis on interconnecting different sensors within building ecosystems, including HVAC, has increased to achieve energy efficiency.

The European HVAC market shows steady growth from 2023 to 2029. Starting at $64.33 billion in 2023, it reaches $92.50 billion in 2029, marking a 43.78% increase in six years, at a CAGR of 6.24%. In recent years, European countries have also witnessed significant climate change. Rising temperatures and heat waves have increased the demand for HVAC systems in residential and commercial buildings to control indoor climatic conditions and support market growth.

The HVAC market in Italy shows an increase of 38.89% in seven years at a compound annual growth rate of 4.80%. There is also good news in terms of manufactured and sold productions, having increased by 23 .34% and 23.43% respectively.The growth is attributed to several factors. First, increasing demand for energy efficient solutions is a key factor. Italy, like many other European countries, is taking measures to reduce carbon emissions and improve energy efficiency by supporting the adoption of modern, more efficient HVAC systems. Second, infrastructure modernization plays an important role.

1.2 Global HVAC Market

The value of the global HVAC market shows steady growth from **** to ****. Starting from $***.** billion in ****, it reaches $***.** billion in ****. This represents a **.** percent increase over six years, with a compound annual growth rate (***) technology with HVAC products, making them innovative and affordable. The emphasis on interconnecting different sensors within building ...

1.3 The European market

The European HVAC market shows steady growth from **** to ****. Starting at $**.** billion in ****, it reaches $**.** billion in ****, marking an increase of **.** percent in six years, at a CAGR of *.** percent. The market is undergoing tremendous changes due to the increasing integration of IoT technology with HVAC products, making HVAC systems smarter, ...

1.4 The Italian market

The HVAC market in Italy shows steady growth from **** to ****. Starting at $*.* billion in ****, it is expected to reach $*.** billion in ****, marking a **.**% increase in seven years and a compound annual growth rate of *.**%.

Italian HVAC market value Italy, ****-****, in US$ billion NextMsc

The growth of the HVAC market in ...

1.5 Imports and Exports

From **** to ****, HVAC exports from Italy under HS code **** steadily increased from $*.** billion in **** to $*.** billion in ****. Imports, after decreasing in ****, grew to $*.** billion in ****, then declined slightly to $*.** billion in ****. The coverage ratio, which measures the ratio of exports to imports, showed significant changes: starting at *.** in ****, it peaked at ...

1.6 Inflation suffered by the sector

The HVAC industry in Italy has faced many challenges due to inflation, which has increased the cost of materials and components, such as copper and aluminum, used in the production of air conditioning and heating systems. This increase has led to higher final prices for consumers, affecting demand. Energy costs, which ...

2 Demand analysis

2.1 Overview of demand

From **** to ****, the HVAC spending item in Italy showed considerable changes in terms of current euros. Starting from *.** euros in ****, spending decreased to *.** euros in ****. In ****, it rose again to *.** euros, then fell again to *.** euros in **** and *.** euros in ****. In ****, spending increased significantly, reaching *.** euros, the highest value in the ...

2.2 Geographical distribution of demand

Data on average household spending on HVAC in Italy show significant regional differences. Households in the Northeast and Northwest spend an average of *.** euros, the highest figure among all regions. In the Center, average spending is significantly lower at *.** euros. Households in the South and Islands both spend *.** euros on average. ...

2.3 Trends in HVAC demand

Trends in online searches in Italy for air conditioning, heating system, and ventilation from **** to **** show clear seasonal trends.

Searches for air conditioning peak during the summer months, with a peak of **.** in July **** and another peak of ** in July ****. During the winter months, interest drops dramatically, reaching a low in ...

2.4 New demand trends

New trends in Heating, Ventilation, and Air Conditioning (***) offerings are evolving rapidly to meet the growing needs for energy efficiency, sustainability, and advanced technology represent a significant advancement in the HVAC industry, driven by the need for sustainability, efficiency, and improved comfort for end users. With the increasing adoption of innovative ...

3 Market structure

3.1 Italian market structure

As far as the Italian market is concerned, there is no Ateco code that groups enterprises and employees into a single HVAC section. We considered for manufacturing the codes [***]. Data on the number of enterprises active in the manufacture of refrigeration and ventilation equipment and stationary domestic air conditioners in Italy ...

3.2 Operation of an HVAC system

The large enclosures that house air conditioners on the roofs of residential and commercial buildings are examples of HVAC systems, the visible component of which is used primarily in large industrial plants, high-rise buildings, apartment buildings, and large indoor spaces. These systems are also essential in environments where there are hygienic ...

3.3 Distribution channels

The distribution channels for HVAC (***) systems in Italy include a variety of players and strategies; these channels often work in synergy to ensure that HVAC products are available to end customers with the quality and support needed for efficient installation and operation.

table { width: ***%; border-collapse: collapse; } th, td { border: *px solid ...

3.4 The main players in the market

The major HVAC manufacturing companies are:

Daikin: Founded in **** in Osaka, Japan, is a global leader in the HVAC industry, with a presence in more than *** countries. The company develops, manufactures, and markets heating, ventilation, air conditioning, and refrigeration systems, including refrigerants. It is known for its commitment to innovation and ...

4 Supply analysis

4.1 Supply analysis

In the HVAC (***) industry, market offerings can be divided into several categories depending on the type of service and product offered, the following cover the full spectrum of HVAC solutions available in the market, each with specific applications, benefits, and features.

Source: ****

table { width: ***%; border-collapse: collapse; } table, th, td { border: *px ...

4.2 The price analysis

The consumer price index for heating appliances and air conditioners in Italy showed a significant fluctuation between **** and ****. Starting from a value of **.* in ****, the index decreased to **.* in ****, marking a decrease of * percent. Thereafter, there was an increase, culminating in a value of ***.* in ****, equivalent to an increase of **.* percent ...

4.3 New supply trends

The HVAC (***) industry is evolving rapidly, driven by a number of innovative trends that reflect technological, environmental, and market changes. The industry is responding with innovations that not only improve performance and reduce operating costs, but also contribute to a healthier and more sustainable environment.

Energy Efficiency and Sustainability:

High Efficiency ...

5 Regulations

5.1 Regulation

In energy matters, the national reference standard is Law ** of Jan. *, **** "Regulations on the rational use of energy, energy saving and development of renewable sources of energy"; this has been followed by other laws and legislative decrees, mostly of an implementing nature, including:

presidential Decree No. *** of August **, ****, "Regulations containing standards ...

6 Positioning of actors

6.1 Market segmentation

  • Daikin
  • Carrier
  • Mitsubishi (MEHITS)
  • Clivet
  • Aermec
  • Siemens
  • Ferroli
  • Haier HVAC Italy Trading
  • York
  • Ferguson

List of charts presented in this market study

  • Global HVAC market value
  • HVAC market shares
  • European HVAC market value
  • More HVAC exporters by value
  • Major importers of HVAC by value
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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. :

Daikin
Carrier
Mitsubishi (MEHITS)
Clivet
Aermec
Siemens
Ferroli
Haier HVAC Italy Trading
York
Ferguson

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The HVAC market | Italy

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