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1.5.5 Germany
2016/05/25
Still the largest economy in the Euro zone, Germany has reacted positively to the mass immigration over the last two years which is said to have increased domestic consumption and boosted the building industry. GDP is forecast to be 1.6% this year and will level at around 1.3% in the period of 2018-2020.
 
Air conditioning has been slow to make an impact in the domestic sector (currently a penetration of 5%). Most householders rely on window blinds and other devices to offset hot weather.
 
In the commercial sector, 60% of buildings have air conditioning and it has become the norm in prestige developments. There is a growing preference for combined cooling/heat pump solutions. The total value of the PAC market in 2015 was close to US$ 400 million.
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