United Kingdom HVAC Market Size (2024 - 2029)

United Kingdom HVAC Market Analysis

The United Kingdom HVAC Market size is estimated at USD 2.52 billion in 2024, and is expected to reach USD 3.17 billion by 2029, growing at a CAGR of 4.70% during the forecast period (2024-2029).

• The HVAC market in the United Kingdom is burgeoning; this market is crucial for ensuring indoor environments are both comfortable and healthy. With a strong focus on energy efficiency and sustainability, the market is at the forefront of technological advances and innovative solutions.
• Energy-efficient heating systems have become increasingly popular in recent years. For instance, heat pumps are gradually becoming an alternative to traditional gas boilers. These devices extract heat from renewable sources such as the air or ground and efficiently warm buildings. By using renewable energy sources instead of fossil fuels, heat pumps contribute significantly to reducing greenhouse gas emissions. Thus, the government is also taking the initiative to adopt heat pumps in the country, further creating the need for installation services and supporting market growth.
• One of the main drivers for the growth of this market is the increasing awareness about climate change and its impact on the planet. As a result, significant efforts have been made to reduce carbon emissions and adopt greener practices. The UK government has set ambitious targets to achieve net zero carbon emissions by 2050, which has created many opportunities for businesses operating in the HVAC market.
• The HVAC market is experiencing growth and change but needs more skilled labor. The shortage is mainly caused by the aging workforce in the United Kingdom, including many baby boomers who are currently HVAC technicians and installers and are set to retire soon. According to the United Kingdom's Office for National Statistics, as of October 2023, the United Kingdom was facing a labor shortage of 12.2% in terms of workers in service industries and 11.3% in the construction sector.
• Macroeconomic factors like fluctuations in energy prices can impact the demand for energy-efficient HVAC systems. Higher energy prices typically drive consumers and businesses to invest in more efficient technologies to reduce operating costs. In addition, policies related to environmental protection, energy efficiency standards, and building codes significantly impact the HVAC market. Stricter regulations often lead to increased demand for compliant and efficient HVAC systems.

United Kingdom HVAC Industry Segmentation

HVAC (heating, ventilation, and air conditioning) systems are designed to regulate temperature and humidity, ensuring comfortable environmental conditions and delivering clean air in buildings. They comprise various components, including boilers, furnaces, refrigerators, humidifiers, and heat pumps.

The study tracks the revenue accrued through the sale of HVAC products in the residential, commercial, and industrial sectors by various players in the United Kingdom. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the market, which support the market estimations and growth rates over the forecast period. The study further analyses the overall impact of the pandemic and other macroeconomic factors on the market. The report's scope encompasses market sizing and forecasts for the various market segments.

The United Kingdom HVAC market is segmented by type of component (HVAC equipment [heating equipment and air conditioning /ventilation equipment] and HVAC services) and end-user industry (residential, commercial, and industrial). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.