UK leads excellent year of growth
19th December 2019FRANCE: 2019 was a spectacular year for sales of fan coil units, rooftops, chillers and AHUs in Europe, according to Eurovent Market Intelligence.
According to the association, which gathers information from over 300 manufacturers, the average growth rates of around 10% were unheard of since the 2008-2009 crisis.
The UK recorded the strongest growth with an increase of 20%. The Benelux countries recorded increases of 15%, with France next at 13%, 10% for Poland and 9% each for Italy and Spain.
Conversely, the countries that were seen as traditionally more resistant to the crisis had more moderate growth: 6% for Germany, 4% for Norway, 3% for Denmark and 1% for Sweden.
Declines were recorded by Portugal (down 3%), the Czech Republic (-4%) and the Baltic countries (-5%). Turkey registered a spectacular drop of around -25%, due to the crisis that is happening there, with the devaluation of the Turkish lira, the increase in private and external debt, rising unemployment and rising energy prices.
Eurovent predicts a strong slowdown in 2020, with sharp declines in orders in the first two quarters. However, it sees the current uncertainties (Brexit, Sino-American trade war, etc) subsiding and the year ending on a positive note.
