HVAC Equipment Market In Europe 2018-2022
About this market
Many industries are industries their production volumes to cater to the growing demand for manufactured goods, which has augmented the need for energy- efficient equipment in different industrial process. The increasing consumption of electricity in energy-intensive industries has propelled regulatory authorities to encourage the adoption of energy-efficient equipment such as HVAC. The heating, cooling, and ventilation costs for industrial users also represent a significant proportion of their overall operating costs. Therefore, these end-users need to increase their operational efficiency. This is encouraging many process and discrete industries to shift from traditional HVAC systems to more energy-efficient ones. Technavio’s analysts have predicted that the HVAC equipment market in Europe will register a CAGR of more than 4%by 2022.
Increasing regulatory standards and regulations on HVAC systems
One of the major drivers for the global HVAC equipment market is the need for HVAC equipment to comply with the regulatory standards to make it more efficient in terms of energy consumption and efficiency. The EU also imposes certain other regulations such as Energy-related Products Directive, which is also known as 'Ecodesign Directive,' which provides a general framework for environmentally compatible design for energy-using products, including HVAC equipment.
Lack of skilled HVAC technicians
Workers need to update themselves regarding new technologies to deploy them effectively on the job. The inability of workers to understand and operate advanced electronics and new technology can prevent companies from achieving the desired results. Thus, because of the shortage of skilled personnel, HVAC
For the detailed list of factors that will drive and challenge the growth of the HVAC equipment market in Europe during the 2018-2022, view our report.
The market appears to be highly fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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