In 2023, Italy led European sold production of parts of refrigerating or freezing equipment and heat pumps, despite a decline of 3.14%. Germany followed, also contracting by 3.23%. Belgium and Austria showed positive growth, at 1.66% and 3.25% respectively. Strong growth rates were observed in Hungary and Romania, with increases of 13.68% and 15.28%. France and Portugal also experienced robust growth, each nearing double digits. Smaller markets like Estonia saw double-digit gains at 12.68%, while the UK faced a significant contraction of 4.17%.
Future trends to watch include a continued shift in production towards Central and Eastern European countries, driven by growing investments and cost advantages. Additionally, advancements in energy-efficient technologies and increased environmental regulations are expected to impact production practices and demand across Europe, redirecting some market shares and influencing product development strategies.
Top countries in Sold Production of Parts of Refrigerating or Freezing Equipment and Heat Pumps Share by Country (Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 25.95 | 2023 | +4.09% | -3.14% | View data |
| 2 | 2 Germany | 17.77 | 2023 | -0.68% | -3.23% | View data |
| 3 | 3 Belgium | 13.89 | 2023 | +2.47% | +1.66% | View data |
| 4 | 4 Austria | 8.62 | 2023 | +2.27% | +3.25% | View data |
| 5 | 5 Spain | 7.02 | 2023 | +1.1% | -0.88% | View data |
| 6 | 6 Hungary | 5.44 | 2023 | +5.97% | +13.68% | View data |
| 7 | 7 Sweden | 4.25 | 2021 | +12.32% | +2.95% | View data |
| 8 | 8 France | 3.98 | 2023 | +3.34% | +7.94% | View data |
| 9 | 9 Portugal | 3.64 | 2023 | +3.33% | +9.67% | View data |
| 10 | 10 Poland | 3.31 | 2023 | +2.46% | +0.62% | View data |
