Sector snapshot H2 2024: HVACR Industrials
Our industrials specialists Tom McCarthy in the UK, Edoardo Schiavina in Italy, and Dirk Freiland in Germany, analysed the activity of the second half of 2024 in the HVACR sector.
The HVACR industry has been undergoing a significant phase of consolidation, driven by the push for intelligent climate and energy management solutions to meet energy transition targets. Key players like Carrier, Daikin, and Bosch have led M&A activity across the American, Asian, and European markets, respectively. American and Asian conglomerates dominate the HVACR industry. At the same time, smaller, local players focus on specific subsegments. The HVACR market demonstrates strong historical growth and moderate future expansion potential, supported by solid global trends, although slightly tempered by green transition challenges.
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