EUROPE: The European air conditioning market is predicted to grow by around 7% in 2015, following a contraction of 3% this year.
The figures, revealed by UK market research company BSRIA, put the total value of the European market next year at €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 said to be showing significant reductions in the value of their markets with falls of 24% and 14% respectively. Conversely the UK is reported to be showing good growth this year across all product areas with an 18% uplift forecasted.
Spain, which has been badly affected by the economic downturn, will return to growth in 2015, according to the figures.