European air conditioning market update 2024

[edit] 2024 highs and lows across European Air Conditioning market

Research published in February 2025 by BSRIA on the European Air Conditioning markets revealed how volatile markets have become in response to a variety of conflicting factors driving and pushing back sales. The overall regional sales posted some growth in 2024, reaching market value above 18 billion dollars. However, the good performance has not been equal across the countries and the segments.

Water-based AC segment held up well, posting an annual growth rate of 5.6%, compared to a 1.4% increase in the packaged AC segment.

The launch of the European Green Deal and deployment of National Energy Plans have supported renovation projects boosting sales of chillers in 2024, but political debacles and economic hardships have taken toll in some countries curbing ambitions of private and public investors.

AC sales, particularly in residential segment, are driven by replacement and refurbishment sectors, and factors like high inflation, high borrowing cost or uncertainly of employment impact consumer confidence. Many European countries have also seen decrease in new construction activities, which translated in slowing sales, in both, residential and commercial segments.

Among the biggest European AC markets, Italy, Turkey, and Spain have seen positive market progression, but sales in France, Germany and UK have been disappointing in 2024.

Key Scandinavian markets, Sweden and Norway have also experienced significant decrease in sales.

The picture varied greatly in other European countries, where sales results spanned between double-digit decrease and double digit growth in comparison towards last year’s results.

[edit] High discrepancy rates in the annual demand for AC units

The trend towards reversible systems has stayed upward, underpinned by the good results in the screw and scroll chillers growth. Reciprocating heating and cooling chillers for comfort followed a positive development too, but volumes were marginal. Previously, the use of reciprocating compressors was limited to process applications, but latest development which allows for the use of hydrocarbon refrigerants made them suitable for comfort heat pump applications, for instance in Switzerland, Denmark and Norway.

BSRIA’s Worldwide Air Conditioning portfolio provides reliable market data, derived from BSRIA proven methodology which, for the last 30 years, has followed rigorous definitions and transparent process, allowing for reliable assessment of historical trends, current sales, and future forecasts. BSRIA data are indispensable for a development of credible strategic insights into the industry’s trajectory. The Air Conditioning reports untangle complex global AC markets and deliver data on product sales by type, with insights into product characteristics, like capacity, compressor types, refrigerants used and applications. BSRIA AC country reports help to understand the driving forces and obstacles affecting the markets and provide informed forecast for the incoming 5 years.

For further information on European Air Conditioning country reports, please contact our sales department wmisales@bsria.com.

This article originally appeared on the BSRIA news and blog site as 'European Air Conditioning Market Update' dated February 2025.

--BSRIA

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