Potential Evolution of the Cooling Market in the EU27+UK: An Outlook until 2030

Abstract

This study investigates insights concerning the future of the cooling market of the European Union (plus the United Kingdom) and its possible development for the upcoming decade (until 2030). In this manuscript, a qualitative model—Porter’s five forces analysis (PFFA)—and a quantitative tool—multi-criteria decision analysis (MCDA)—have been applied to produce a forecast and a corresponding validation technique. It has been observed that the MCDA tool came to a similar conclusion as the PFFA methodology, highlighting that, presumably, the cooling market will continue to grow moderately, mainly thanks to research and development (R&D) as the central driving force. Moreover, the latter is strictly connected with R&D developments, economic crises, and the welfare of the European population. Additionally, in this study, an extensive survey conducted on interviews of experts throughout each European country confirmed the slightly positive future developments forecast up to 2030 from the quantitative and qualitative methods mentioned above. The results of the study describe a steady growth of the cooling market in Europe until 2030 of about 1–2% annual increase, for a total gain of 24%.