Press Release - June 2026

• The Iberian market for air conditioning equipment has maintained favourable momentum in recent years, with revenue of €2.245 billion recorded in 2025.

• Sector supply is highly concentrated, with the top five operators holding a combined share of total sales in Spain and Portugal of close to 50%.

• INFORMA's DBK Sectoral Observatory recently published these insights in the 'Air Conditioning Equipment-Iberian Market' Sectoral Report.

Madrid, 25 June 2026.- According to INFORMA's (Cesce's subsidiary) DBK Sectoral Observatory—a leading provider of business, financial, sectoral, and marketing information in Spain and Portugal—the air conditioning equipment market in Spain and Portugal maintained favourable momentum in the 2014-2025 period, with the exception of fiscal year 2020, when the impact of the pandemic caused a sharp drop in sales.

Revenue from the sale of this type of equipment across the Iberian market reached €2.245 billion in 2025, up 6.9% from 2024, amid rising household consumption and intense heatwaves in the summer of that year.

Turnover in Spain rose 6.8% to €1.890 billion. Sales growth in Portugal was slightly higher (+7.6%), resulting in a figure of €355 million.

The household equipment segment accounts for the majority of sales across the Iberian market, representing over half of the total. The commercial segment accounts for just over a quarter of the market, with the remaining share corresponding to industrial equipment.

As for foreign trade, Spanish exports rose 25.9% in 2025, while in Portugal they grew 4.4%. The sector's trade balance showed deficits in both countries, with the shortfall standing at €321 million in Spain and just over €230 million in Portugal.

Forecasts for year-end 2026 point to further demand growth, with sales value across the Iberian market estimated to rise by around 5%.

In 2025, around one hundred companies operated in the sector, of which about 60% were based in Spain and the remaining 40% in Portugal. Supply is highly concentrated, with the top five operators holding a combined market share of almost 50% in 2025; the top ten, over 70%.

Data Synthesis