Europe Fan Coil Unit Market is estimated to witness a rise in revenue from US$ 1110.5 Mn in 2021 to US$ 1536.2 Mn by 2027. The market is registering a CAGR of 5.6% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 5.6% over the forecast period 2022-2027. 

Southeast Asia Fan Coil Unit Market is estimated to witness a rise in revenue from US$ 85.6 Mn in 2021 to US$ 127.4 Mn by 2027 at a CAGR of 6.8% during the forecast period 2022-2027. 

Fan coil units are the devices that uses a fan and a coil for cooling and heating of rooms without connecting to ductwork. Also, they are known as vertical fan coil unit (VFC). A fan coil unit (FCU) is a device consisting of a heat exchanger (coil) and a fan. Fan coil units are high efficiency, low profile and concealed air conditioning units for both ducted and non-ducted HVAC system applications. They are primarily designed and tested following government regulations to meet the increasing energy efficiency levels required by today’s sustainable buildings.

The major factor responsible for the growth of the Europe and SEA fan coil unit market includes increase in demand for energy-efficient FCU models, rising adoption of HVAC system in residential and commercial buildings and increasing demand for low energy consumption products in real estate. Surging consumer inclination for improving energy efficiency in building and the infrastructural sector is primarily responsible for the increasing demand of energy efficient fan coil unit's market. Moreover, the adoption of FCU in the HVAC system becomes positive, owing to the favorable government norms regarding the installation of energy efficient systems and renovation of commercial buildings for efficient energy consumption across the European economy and SEA region. Furthermore, the government authorities are opting for broad initiatives for promoting the use of energy-efficient components. This initiative has led to drive the demand for the HVAC system, supported by the factors such as the global rise in commercial buildings and residential projects and a significant increase in urban population. However, chilled beam systems as an alternative for fan coil unit restrict the market growth over the forecast period.

Report Summary

The study of the Europe and SEA Fan Coil Unit Market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the fan coil unit industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Europe and SEA Fan Coil Unit Market across 16 Chapters and 206 pages. The report includes data presentation across 53 tables and 72 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and competitive rivalry is high.

The subsequent section provides details of the market analysis based on different segments such as configuration, model type, application and region. The report includes detailed study of value chain of the industry. It includes raw material provider, manufacturer, distributors and end users. The report also covers extensively about the key competitors in the market for fan coil unit.

Covid-19 Impact Assessment on Europe and SEA Fan Coil Unit Market 

The Europe & SEA fan coil unit market has witnessed a significant growth in past few years, however due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. 

During lockdown, owing to the COVID-19 pandemic, various major players in the fan coil unit market had to stop their business production due to lockdown implemented in countries such as UK, Germany, Italy and other countries. This break directly impacted the sales of fan coil unit companies. Also, lack of manpower and raw materials have halted the supply of FCUs. Moreover, stoppage in infrastructure development and buildings construction is anticipated to impact the sales of fan coil unit market.

Key Takeaways from the Europe and SEA Fan Coil Unit Market Report

• Based on configuration, the two pipe FCU segment holds the highest market share in 2021. Moreover, the four pipe FCU segment is projected to grow at the highest CAGR during the forecast period due to technological advancements. 
• In terms of model type, ceiling mounted segment is estimated to have the highest market share during the forecast period. Moreover, the wall mounted segment is projected to grow at the highest CAGR during the forecast period.  
• By application, the commercial segment is estimated to have the highest market share in 2021 and is also anticipated to grow at the highest CAGR over the forecast period owing to increasing demand for fan coil units in hotels and restaurants. 
• By country, Italy is the highest share holder country in 2021 and UK is projected to grow with the highest CAGR over the forecast period in the Europe fan coil unit market. Whereas, Indonesia is the highest share holder segment in 2021 and Vietnam is projected to grow with the highest CAGR during the forecast period in the SEA fan coil unit market owing to the growing number of residential and commercial projects.

Major Players Company Profile

• Carrier Corporation is a company which deals in high technology heating, air-conditioning and refrigeration solutions. The company provides sustainable solutions, integrating energy efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Moreover, the company focusses on launching products and expanding its geographic presence to enhance its industry presence. 
• Daikin Europe N.V. typically manufactures HVAC building products. It also offers a range of air conditioners, heat pumps, ventilation, water heating, control systems, oil condensing boilers, purifiers and refrigeration products. Daikin Europe serves their products to customers, such as residential, commercial and industrial sectors worldwide. Moreover, it offers the largest selection of heating and cooling solutions to suit all environments and personal preferences.
• Hitachi, Ltd. is a Japan based multinational company founded in 1920 and is headquartered in Tokyo, Japan. The company’s product offering is segmented into seven segments including IT systems, social & industrial systems, electronics systems & equipment, construction machinery, high functional materials, automotive systems and smart life & eco-friendly system (such as air conditioners). Moreover, in terms of business revenue segmentation, IT holds the largest market share.

Competitive Landscape

The key players in the Europe and SEA Fan Coil Unit Market are Barcol-Air (UK) Ltd., Carrier Corporation, Daikin Europe N.V., Euroclima, Haier Group Corp., Hitachi, Ltd., Johnson Controls, Inc., Midea Group, Trane Europe, Trox Group, VENTILCLIMA (A Group S.p.A.) and Panasonic among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

Europe and SEA Fan Coil Unit Market is segmented based on configuration, model type, application and region. The industry trends in the fan coil unit market are sub-divided into different categories in order to get a holistic view of the Europe and SEA marketplace. 

Following are the different segments of the Europe and SEA Fan Coil Unit Market:

By Configuration segment of the Europe and SEA Fan Coil Unit Market is sub-segmented into:

• Two Pipe FCU
• Four Pipe FCU

By Model Type segment of the Europe and SEA Fan Coil Unit Market is sub-segmented into:

• Wall Mounted
• Floor Standing
• Ceiling Mounted
  • Cassette
  • Concealed

By Application segment of the Europe and SEA Fan Coil Unit Market is sub-segmented into:

• Commercial
  • Hotels and Restaurants
  • Hospitals
  • Office spaces
  • Retail
  • Others
• Industrial
• Residential 

By Region segment of the Europe and SEA Fan Coil Unit Market is sub-segmented into:

• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• South East Asia
  • Indonesia
  • Thailand
  • Singapore
  • Malaysia
  • Philippines
  • Vietnam
  • Myanmar
  • Rest of SEA