Markets: The European air-conditioning market
The European air-conditioning market was estimated, by Daikin, at 5.2 billion euros in 2003, representing a 10% increase compared with 2002. This market is predicted to rise to 5.7 billion euros in 2004. This strong increase is above all due to the unprecedented heat wave which occurred in summer 2003 in Europe. The estimated market division for 2002 was 26% in Italy, 19% in Spain, 12% in the UK and 9% in France. The room air-conditioner segment (roughly 50% of the market) has experienced fast growth and is predicted to expand from 3.2 million units in 2002 and 3.8 million units in 2003 to 4.3 million units in 2004.