Market Trends of Italy Commercial HVAC Industry
Heating Equipment is Expected to Grow with Significant CAGR
- Heating equipment such as boilers/radiators/furnaces and heat pumps are expected to hold a significant share in the commercial HVAC market. The demand for heat pumps is growing significantly in commercial buildings in Italy. Heat pumps offer commercial properties and many advantages that surpass traditional heating and cooling systems. These technologies boost energy efficiency, cut operational costs, and champion environmental sustainability.
- Commercial properties shrink their carbon footprint by adopting heat pumps and supporting sustainability initiatives. Investing in these systems enhances efficiency, cuts costs, and positions commercial properties as leaders in transitioning to a cleaner, sustainable energy landscape.
- Several companies are constantly investing in introducing various products catering to the demand for these heating systems in the commercial segment. For instance, in November 2023, Daikin disclosed information regarding two VRV 51 heat pump systems that were scheduled to be released in the first half of 2024. These new systems, namely the Mini-VRV and the Top-Blow series, are designed to cater to the growing demand for decarbonization in commercial buildings.
- In November 2023, Aira made its debut in Italy with a clear goal to lead Europe away from gas dependency and hasten the process of decarbonization. The company's offerings span a range of clean energy solutions, from smart heat pumps and solar panels to battery storage and tailored electricity tariffs. By opting for Aira, Italian households stand to slash their energy bills by 55% and significantly curb their CO₂ emissions, a stark contrast to traditional fossil fuel approaches.
Understand The Key Trends Shaping This Market
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Commercial Buildings End Users Hold Significant Market Share
- The commercial buildings segment is projected to rise significantly due to the growing commercial real estate market and rising demand for air conditioning and heat pumps in office buildings, shopping centers, and other commercial spaces.
- According to Fujitsu, the Italian market experiences an annual demand exceeding 1.8 million air conditioning units. In response to increasingly stringent environmental regulations, in March 2024, Fujitsu introduced its GENERAL brand in Italy, focusing on expanding sales in the commercial sector. In 2024, the company plans to launch new products, including wall-mounted air conditioners with enhanced energy efficiency, VRF systems utilizing the eco-friendly refrigerant R32, and models emphasizing design excellence. Fujitsu showcases a chiller designed for large-scale facility air conditioning, highlighting its commitment to a comprehensive air conditioning portfolio.
- HVAC system applications have become popular among commercial building owners in Italy for the past few years. The commercial real estate sector is rising exponentially in Italy, which is expected to create significant opportunities for HVAC systems. The European commercial real estate market was projected at over USD 9 trillion in 2023. The total commercial real estate investment volume was EUR 253 billion in 2022, which dropped to about 133 billion in 2023.
- According to the European Public Real Estate Association, Germany, the United Kingdom, France, and Italy are the top four commercial real estate investment markets. Italy's commercial real estate market was valued at USD 940.84 billion in 2023. Rising investment in the commercial sector is expected to further drive the market’s growth.
- • In Italy's commercial sector, ductless mini-split air conditioners are increasingly popular. These systems are particularly favored in large buildings that demand substantial heating and cooling yet lack traditional ductwork. Moreover, they are ideal solutions for small apartments and room extensions, where installing distribution ductwork for a central air system is impractical. These advantages are poised to propel the market’s growth.
- In Italy's commercial sector, ductless mini-split air conditioners are increasingly popular. These systems are particularly favored in large buildings that demand substantial heating and cooling yet lack traditional ductwork. Moreover, they are ideal solutions for small apartments and room extensions, where installing distribution ductwork for a central air system is impractical. These advantages are poised to propel market growth.
