UK HVAC Market Set to Reach £4,157.44 MN in 2022
The UK HVAC market is projected to be valued at approximately £4,157.44 million in 2022, according to a new report. The report provides comprehensive information on consumer purchasing behaviour and the adoption of HVAC in the UK.
Over the years, HVAC systems have seen increased adoption across several end-user applications. The demand is driven by varying climatic conditions, necessitating different types of HVAC equipment. Most vendors in the UK HVAC market dedicate their operations to cater to the commercial sector, with the choice of equipment varying depending on the structure and purpose of commercial buildings.
Key highlights from the report include:
- The UK government has initiated several schemes and measures to improve indoor air quality in residential, commercial, and industrial building structures in 2022. The renewable heat initiatives are one of the major drivers for the HVAC market.
- Approximately 750,000 medium- to large-scale HVAC existing units require an update in technology. Therefore, several HVAC manufacturers in the country expect significant growth in the demand for HVAC equipment during the forecast period.
- New regulations and standards proposed by indoor air quality authorities in the UK are expected to increase opportunities for manufacturers during the forecast period as old traditional HVAC units are being phased out.
- Health concerns and measures for the consumption of HVAC equipment increased significantly due to the impact of the pandemic in areas of applications, such as hospitals, public infrastructures, and residential units.
Despite the positive outlook for the HVAC market in the country, several manufacturers will face intense competition from both home competitors and European competitors with excessive capacity and ability to benefit from favourable exchange rates during the forecast period.
Key vendors in the UK HVAC market include Systemair, Zehnder, Daikin, Bosch, Johnson Controls, and Mitsubishi Electric. Other prominent vendors include Carrier, LG, Honeywell, Danfoss, S & P, Hitachi, TCL Electronics, Camfil, Dunham Bush, Backer Springfield, Fujitsu, Midea, Alfa Laval, Wolf, Grundfos, and Nuaire.
For more information about this report, visit ResearchAndMarkets.com.
