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Europe Air Conditioning Market will be USD 21 Billion by 2025
Europe Air Conditioning Market is expected to be USD 21 Billion by 2025. following segments are VRF, Splits, Rooftops, AHU, Chillers, Fan Coils, and Others. Splits ACs have the most significant market share in the Europe.
By: Renub Research
With increasing temperature and humidity levels in European countries, the market for Air Conditioner is also growing year on year. Air Conditioner has become a utility product in most of the countries than a luxury product with increasing per capita income and rapid urbanization in developed and developing countries. According to Renub Research analysis, this Europe Air Conditioning Market is expected to be USD 21 Billion by the end of the year 2025.
Improvement in technologies such as the Internet of Things is also propelling the market of Air Conditioners, due to these technologies, appliances have become more efficient with the use of built-in Wi-Fi users can interact with mobile phone app from any place. Most of the electronic companies are also working on the development of energy-efficient Air Conditioner as most of the consumers consider the energy consumption of devices a barometer as when purchasing any item.
The Impact of COVID-19 on Air Conditioner Market
The impact of COVID-19 is affecting all the industry across the world. The leisure industry is mainly hurt by this pandemic, such as hotel, restaurants, cinema hall, auditorium, etc., which is directly affecting the sale of commercial air conditioners, as people are staying in homes which implies the sale of domestic air conditioners can grow in the summer season of this year compensating loss from commercial air conditioner segment. Governments have also permitted the supply of non-essential items through ecommerce websites.
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