The production value of plumbing, heat, and air conditioning installation in Belgium reached 5.52 billion Euros in 2023. Over the past decade, the sector has exhibited moderate fluctuations with periods of both growth and decline. Notably, between 2015 and 2016, there was a 2.41% increase, while 2017 saw a 3.59% decrease. The period from 2020 to 2023 displayed steady growth with year-on-year increases of approximately 1.74%, 1.62%, and 1.5% respectively. The five-year CAGR for 2023 stood at a positive 2.46%.
Looking forward, the forecasted data suggest a continued annual growth trend, albeit at a more modest rate with a 0.92% CAGR expected from 2024 to 2028. By 2028, the production value is projected to reach 5.86 billion Euros, reflecting a cumulative growth rate of 4.71% from 2023. This indicates a stable but slow-growing market.
Future trends to watch for include the potential impact of energy-efficient technologies and sustainability policies, which could reshape demand patterns in the industry. Additionally, economic conditions and regulatory changes within the European Union may play significant roles in influencing future growth dynamics.
