New Product Launches are Bolstering the European Air Conditioning Market

The European air conditioning market is anticipated to grow at a CAGR of 1% during the forecast period (2024-2031). The market growth is driven by high urbanization, climate change, and high disposable income. The European air conditioning market is segmented by application (residential, commercial, industrial, and others), and by refrigerant type (HCFC, HFC, HFO, natural refrigerant).

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The major players in the European air conditioning market include Daikin Industries Ltd., Electrolux AB, Fujitsu General Ltd., LG Electronics Inc., Mitsubishi Electric Corp., Samsung Electronics Co., Ltd., Toshiba Corp., Trane Inc., United Technologies Corp., and others. The players are contributing to the market growth by adopting different growth strategies such as investment in technological advancement, mergers & acquisitions, partnership, and collaboration among others.

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Recent Developments

· In March 2024, LG Electronics launched the DUALCOOL™ residential air conditioner at MCE 2024. The product features Soft Air™ function and Dual Inverter Heat Pump Compressor™.

· In March 2024, Fujitsu General (Italia) S.p.A, showcased GENERAL, an air conditioner brand for international markets, at the MCE 2024 (Mostra Convegno Expocomfort). It additionally launched VRF products that use the low GWP refrigerant R32.

· In September 2023, Midea IFA debuted its R290 product lineup in Berlin.

· In March 2023, Mitsubishi Heavy Industries Thermal Systems, Ltd., launched 22 new models of residential-use air conditioners for the Japanese market. The new models started in three series in April. The lineup comprised nine models in the Company's top-of-the-line S Series, six models in the high-performance R Series, and seven models in the standard T Series.

· In March 2023, Samsung Electronics Air Conditioner Europe (SEACE), launched the EHS Mono R290 range, including the EHS Mono HT Quiet. It is a high-temperature, low-noise heat pump, for the residential renovation market. It achieves hot water temperatures of up to 70°C for domestic heating purposes, and operates at noise levels as low as 35 d(BA), using a 4-step Quiet mode. It performs even in extremely cold weather, temperatures as low as -25°C.

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