The production value of plumbing, heat, and air conditioning installation in Sweden was 8.09 billion euros in 2023. Over the past decade, the sector has seen both peaks and troughs. Notable downswings occurred in 2014 and 2018, with year-on-year decreases of 12.53% and 12.14% respectively. However, the overall trend shows growth, particularly from 2020 onwards. The values for 2021 to 2023 increased modestly, reflecting annual increases largely above 2%. In the five years leading up to 2023, the compound annual growth rate (CAGR) stabilized at 3.33%, indicating slow but steady progress.
Looking ahead, the projections for 2024 to 2028 view continued growth, with a forecasted CAGR of 1.54% over these five years. By 2028, the industry is expected to reach a production value of 8.91 billion euros, reflecting a total increase of nearly 7.95% from 2023.
Future trends to watch for include technological advancements in HVAC systems, increased focus on energy-efficient installations, and regulatory changes promoting environmentally sustainable practices. These could significantly impact the pace and direction of growth in this sector.
