Düsseldorf-based GEA is exploring the possible sale of its Bock compressor business in 2020 as the company concentrates on core markets including the food, chemical and pharmaceutical industries.
Last month, GEA announced plans to divest selected activities of the Farm Technologies and Refrigeration Technologies divisions and confirmed today that GEA Bock would no longer be treated as a core business of the group.
Sales of VRF systems and chillers grew in Europe in 2018, while there was also increased demand for air handling units, cooling towers, heat exchangers and IT cooling.
The latest study of HVAC equipment sales across the Europe, Middle East and Africa (EMEA) region by Eurovent Market Intelligence, based on data collected from manufacturers, also shows that rooftop unit sales were down 12% and chilled beams 6%, while the market for fan coil units is described as 'stagnant' across the region, despite a 13.1% increase in UK sales.
The sector was said to worth close to 7.5billion euros last year, with 2.3bn spent on split systems, 1.67bn on air handling units, 1.38bn on VRF systems and 1.03bn on chillers with a capacity greater than 50kW.
This year's Chillventa exhibition was officially the biggest ever, with organisers today revealing that the Nuremberg event attracted 35,490 visitors from 125 countries.
That figure exceeded the previous record of 32,206, set two years ago, and combined with a record 1019 exhibitors from 45 countries in Germany.