LONDON–(BUSINESS WIRE)–Dec 28, 2020–
The new non-residential air conditioners market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Non-Residential Air Conditioners Market in Europe 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the growing commercial construction in Europe,” says a senior analyst for Industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As markets recover, Technavio expects the non-residential air conditioners market size to grow by USD 1.84 billion during the period 2020-2024.
Non-Residential Air Conditioners Market Segment Highlights for 2020
- The non-residential air conditioners market is expected to post a year-over-year growth rate of -10.78%.
- Based on the product, the split systems segment saw maximum growth in 2019. Factors such as growing commercial construction will increase the growth of the segment.
- The growth of the segment will be significant during the forecast period.
Regional Analysis
- 37% of the growth will originate from the Russian Federation.
- The Russian Federation will offer several growth opportunities to market vendors during the forecast period. However, the segment growth in the Russian Federation will be slower than the growth in Italy, Spain, France, and Turkey.
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Notes:
- The non-residential air conditioners market size is expected to accelerate at a CAGR of over 2% during the forecast period.
- The non-residential air conditioners market is segmented by the product (Split systems, VRF systems, Chillers, Rooftops, and Others) and geography (Russian Federation, Italy, Spain, France, and Rest of Europe).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including ait-deutschland GmbH, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.
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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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KEYWORD:
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 12/28/2020 08:23 PM/DISC: 12/28/2020 08:23 PM
Copyright Business Wire 2020.
