Europe HVAC Field Device Market Size (2024 - 2029)

Europe HVAC Field Device Market Analysis

The Europe HVAC Field Device Market size is estimated at USD 6.12 billion in 2024, and is expected to reach USD 8.04 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).

• .Over the past few years, the market for HVAC field devices has undergone a period of transition due to new technology, regulations, changes in climatic conditions, and consumer trends. The region's emphasis on user-friendly and modern HVAC appliances has witnessed newfound demand.
• Government regulations regarding energy efficiency and eco-friendly refrigerants are expected to increase the need for HVAC field devices in the European regions, particularly in the United Kingdom, Germany, and France.
• In Germany, the government actively promotes the fast development and integration of renewable and efficient heating and cooling technologies through new laws and attractive incentives. This promotion has led to a significant market shift in Germany, with the heating and cooling industry growing partly due to this. The number of renewable and efficient technologies (such as CHP, solar thermal, heat pumps, condensing heating boilers, and pellet heating systems) has grown enormously.
• Moreover, the government's measures to create a climate-neutral building stock by 2050 are insufficient; the country's German Housing Association (GdW) and the CDU Economic Council are looking to shift to central heating. Such developments will severely impact the heating equipment market over the coming years.
• Retrofitting older buildings with air conditioning is significantly more difficult, especially if there is insufficient space to install ductwork. For buildings with space, the expense of these updates can be a bit high for end-users. The workaround on both ends is to use ductless cooling and heating units.
• Increasing construction activities and supportive government regulations for energy-saving solutions are expected to boost market growth.

Europe HVAC Field Device Industry Segmentation

HVAC field devices are components used in heating, cooling, and ventilation systems to control and monitor the system's operation. These devices include sensors, controllers, actuators, valves, dampers, and switches.

The scope of the report includes the use of different kinds of field devices based on their type and their applications in various end-user industries. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of COVID-19 on the ecosystem. The HVAC field device market is segmented by type (control valve, balancing valve, PICV, damper HVAC, damper actuator HVAC), sensors (environmental sensors, multisensors, air quality sensors, occupancy, and lighting), end-user industry (commercial, residential, industrial), and by country (United Kingdom, Germany, France, and the rest of Europe). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.