The industrial cooling and ventilation equipment production value in Belgium has shown steady growth over the past decade, starting at 2.02 billion Euros in 2013 and reaching 3.07 billion Euros in 2023. The year-on-year variation highlighted significant growth periods, such as in 2016 with a 22.82% increase, but generally maintained an upward trajectory. Over the last two years, the sector saw a consistent annual growth rate of just over 2%. The Compound Annual Growth Rate (CAGR) for the last five years stands at approximately 2.54%, indicating a moderate but steady increase in production value.
Looking towards the future, production is forecasted to continue its growth at a forecasted 5-year CAGR of 1.5%, with the total production value expected to hit 3.37 billion Euros by 2028. Future trends to watch for include advancements in energy-efficient cooling technologies, shifts in regulatory frameworks, and the integration of smart ventilation systems that could drive innovation and market expansion.
