The latest in-depth air conditioning reports from BSRIA are forecasting a value growth of 7% in the European Air Conditioning market in 2015 following a contraction of 3% in 2014. The total value of the European market in 2015 is forecast to be €8.7bn. BSRIA is then forecasting an accelerated growth that will see the market valued at over €9.5bn by the end of 2017.
Whilst most countries are forecast to grow in 2014, both Russia and Italy are showing significant reductions in the value of their markets with falls of 24% and 14% respectively, conversely the UK market is showing good growth in 2014 with a growth of 18% forecast, with growth forecast in all product areas.
BSRIA is forecasting that Spain which has been badly affected by the economic downturn will return to growth in 2015 and reached a point of no further reduction in the market in 2014.