The sold production of parts for air conditioning machines in the UK experienced significant fluctuations over the past 11 years. From 2013 to 2015, there was substantial growth, peaking in 2015. However, between 2016 and 2019, the market saw a notable decrease, exacerbated by a steep decline in 2019. The downward trend continued from 2019 to 2023 with intermittent minor recoveries, ending at 31.945 Million Euros in 2023.
Between 2022 and 2023, there was a year-on-year reduction of 10.76%, and over the last five years, the CAGR was -14.19%, highlighting a persistent decline. Looking forward, forecast data predicts the total market value to continue its downward trajectory, with a forecasted 5-year CAGR of -15.67%, resulting in a predicted decrease to 11.824 Million Euros by 2028, marking a 57.34% drop from 2023.
Future trends to watch for include potential impacts of technological advancements in energy-efficient air conditioning systems, changes in environmental regulations, and shifts towards renewable energy sources, which could affect both demand and production processes in this sector.
