Investors have been piling into air conditioning stocks as the spread of data centres and growing heatwaves drives demand.

The latest heat wave has underscored the need for efficient technologies and adequate power supply to keep Europe cool.

The massive demand for cooling devices underscores the shift in European consumer behaviour

Companies see a surge in demand for air conditioning units from Europe, which World Meteorological Organisation says is warming at more than twice the global average.

Investors have been piling into air conditioning stocks as the spread of data centres and growing heatwaves drives demand.