European minisplits: market overview
A recent analysis of the European minisplit market carried out by BSRIA forecasts steady growth overall in the next few years. Thanks to data collected from nine of the largest producers in Europe, and further interviews among other market to players obtain optimum accuracy for 2005 forecasts, these markets are expected to reach a combined 6.8 million units in 2009. Italy and France will experience a sharp drop in sales for 2005 (300 000 and 200 000 units respectively). This is due to exceptionally good sales in 2003/4 and the combination of a late summer and very high stock levels at the end of 2004. Italy is predicted however to show strong growth after 2005, surpassing 2004 levels by 2007, whereas France is only likely to experience moderate growth in line with pre-2004 trends. Spain is set to witness exceptional growth and Russia will also see high growth, approaching 900 000 units in 2009, especially if we consider that only 5% of the population will be able to afford to install air conditioning within the next five years. Greece is recovering from declining sales in 2004-2005, outlining a market that is unlikely to exceed 400 000 units given its small population, even with falling prices. Germany and the UK should expect slow but steady growth.