ResearchAndMarkets.com added separate reports on Europe’s air conditioning systems market and residential heat pump market. The air conditioning systems market is projected to reach USD 30.0 billion by 2031 from 2026 to 2033 at a 6.4% compound annual growth rate, driven by heatwaves, renovation, smart HVAC adoption, refrigerant transitions and heating and cooling electrification. The residential heat pump market was valued at USD 11.2 billion in 2025 and is forecast to reach USD 71.2 billion by 2035 at a 20.3% CAGR, supported by subsidies, tax incentives, decarbonization policies, energy-efficiency standards, high household energy costs and fossil-fuel heating replacement. Inverter systems and ductless mini-splits led the air conditioning report’s technology and product categories, while air source heat pumps accounted for 95.2% of the residential heat pump market. Germany was the leading country in both reports’ cited market assessments.