Implementation of solar-based air conditioning systems for small and medium applications such as residential & commercial buildings may provide new opportunities for market growth.
San Francisco, California (PRWEB) December 29, 2014
Traditional air conditioning systems are expected to increasingly be replaced by new, more energy efficient models in Europe over the forecast period. Increasing infrastructure spending and varying weather conditions are expected to drive the Europe air conditioning systems market. Growing environmental awareness and high disposable income are expected to drive the market over the forecast period. Increasing need for power conservation is estimated to drive inverter-based systems demand. Decreasing profit margins and strict energy conservation standards may act as a restraint to the Europe air conditioning systems market. Implementation of solar-based air conditioning systems for small and medium applications such as residential & commercial buildings may provide new opportunities for market growth.
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Countries such as Germany, England, Norway, Denmark and Sweden are estimated to account for a considerable percentage of the regional market share. The product segments include chillers, window, air-side, split, portable, and single packaged air conditioners. Split systems are expected to be a key product over the next six years. End-use segments include commercial, industrial and residential sectors. Growing use of air conditioning systems in hospitality and tourism is expected to drive the commercial segment over the forecast period.
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Key industry players include Haier Electronics Group Co Ltd., Sharp Corporation, Panasonic, Daikin Industries Ltd., Mitsubishi Corporation, Electrolux AB, Samsung Electronics, and LG Electronics, etc. Manufacturing of energy efficient systems is expected to be the key success factor for companies operating in the Europe air conditioning systems market.
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