With the Covid-19 pandemic, the performance of HVAC products in Europe has varied greatly depending on the market: in fact, the effect of the coronavirus has had different consequences for industry and trade, with increases in demand for some devices and drops in demand for others.
The situation was analyzed in detail in a report by Eurovent Market Intelligence, which examined 16 European countries. According to the data obtained, the countries most affected by the ongoing healthcare crisis are Turkey and the United Kingdom, but the report reveals other interesting details, which will be analyzed below.
Product performance and relative categories of reference
The aforementioned document compared the products sold by over a hundred companies across Europe and grouped them into 8 categories: air handling units, fan coils, chillers, rooftop units, evaporative cooling, heat exchangers, filters and VRF air conditioning.
While the best sales performance has undoubtedly been achieved by products such as dry coolers, Close Control Units, chillers and air conditioners, cooling towers and filters, solutions such as Rooftop units have instead seen a reduction in demand.
From the picture described above, it is easy to see how Covid-19 has had a massive influence on the HVAC market performance in recent months. As one might expect, the main customers requesting specific equipment have been hospitals, data centers and the food industry + pharma (especially refrigeration intended for food preservation – and in this first months of 2021- vaccine temperature preservation).
On the flip side, areas whose economies are based on exchange and social interaction have come under fire. The most important of these are HoReCa (Hotellerie-Restaurant-Café), offices and shopping centers. Indirectly, the conditioning of transport systems dedicated to tourism has also been affected, with cruise ships and airplanes leading the way.
The poor sales performance of products destined for these activities has been quite evident and has brought the production of certain machines and components to historic lows. The European market is therefore “split in two”, with products that continue to show a positive trend and others that are struggling to produce profit for manufacturers.
The consequences of Covid on the HVAC market
In more detail, the report shows that Germany, Austria and Switzerland were the best performing countries during the lockdown, followed by Benelux, Sweden and Poland. Disappointing, however, were the results for HVAC products in Italy and Spain (two of the European nations most affected by the first wave), but even more so those of Turkey and the United Kingdom.
In these countries, however, there was a slow recovery during the summer months, when the virus offered some signs of respite. The easing of infections and the removal of some restrictions allowed people to return to travel and to reconnect socially.
However, the new surge of Covid patient cases in the last months of the year has brought the whole of Europe back into a state of chaos, leading to yet another sales setback. The HVAC industry is definitely not in crisis, but if concrete solutions aren’t found soon, the repercussions will be substantial.
In addition, the cancellation of important trade shows and exhibitions is not helping companies working with heating, ventilation and air conditioning. These important meetings have always been the result of significant economic interactions and their absence is being heavily felt.