Eurovent Market Intelligence has published its special annual report on the HVAC&R industry in 2021. Rather qualitative, the report mainly investigates the post-pandemic situation of the market by product, country, and application including the 5-year forecasts (2020-2024) for each subchapter, as well as the main market drivers and challenges. The main information in this report is a synthesis of qualitative survey results from the HVAC-R manufacturers (203 respondents from 19 countries), interviews conducted with professionals in the HVAC&R sector, macroeconomic data, and EMI database.

In this report, it is shown that the post-pandemic recovery was formed differently among European markets. Some markets accelerated particularly in the first half of 2021, however, expect a slowdown in the second half; while others remained stagnant in the first half, but expects to gain pace in the recovery during the second half of 2021. Recompensating the loss of 2020, some of the biggest European HVAC&R markets expect double-digit growth in 2021.

The residential market expects the highest growth in 2021, thanks to domestic heat pumps, which now come with many incentives. Health and data centers decelerated in 2021 due to the unusual boom they had in 2020, however, they continue to grow. On the other hand, the HVAC&R forecasts for transport, hotels, and leisure & entertainment remained at the bottom of the list with no visible recovery. On the refrigeration side, industrial refrigeration took the lead in the recovery in 2021.

Almost all product groups have entered a recovery period at different speed rates in 2021, except for chilled beams, which remained stagnant. For most products, a strong rebound from the pandemic was visible in the first half of the year, however, the market will slow down during the second half of 2021 due to other challenges.

The HVAC&R industry is continued to be challenged even after the Covid-19 peaks. Some of the main concerns regarding the industry are the post-pandemic developments, supply chain problems, and European regulations. A dedicated chapter on key challenges can be found in the report as well.

The 114-page “European HVAC&R Market: Post-Pandemic Trends and Key Challenges” report with detailed information including charts, qualitative comments, and trends is available for sale for 6.000 EUR (excl. VAT).