The economic crisis during 2011-14 coupled with the declining oil exports due to shut down of four major ports had a negative impact on the construction sector. Therefore, the demand for air conditioners declined. However, the gradual growth in the government’s initiative to boost the infrastructure development is expected to positively impact the growth of Libya air conditioner market in the forthcoming period.
According to MarkNtel Advisors’ research report “Libya Air Conditioner Market Analysis, 2020”, the air conditioner market is projected to grow at a CAGR of less than 5% during 2020-25. The increasing initiatives by the government to boost the infrastructure development has strongly contributed to the growth of Libya air conditioner market in the years to come. Under the Libya Vision 2020, several construction projects have been introduced, which would boost the demand for air conditioners in the country.
As per MarkNtel Advisors’ study, the residential sector captured the highest market share in the overall Libya air conditioner market in 2019 due to the rising demand for split air conditioners in the cities such as Tripoli, Benghazi, Musrata and Sabha. Moreover, the recovery of the country’s economy and the reconstruction activities undertaken by the government are the major factors boosting the demand for air conditioners. The key players who has grabbed a considerable market share in the Libya air conditioner market include Carrier, Daikin, LG Electronics Inc., Samsung Electronics Co. Ltd., Trane, Midea Group Co. Ltd., etc.
Libya Air Conditioner Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for air conditioner firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
Industry Segmentation:
1. By Type (Window, Split, Floor Standing, Cassette, Packaged, Ducted Split, Centralized)
2. By End Users (Residential, Healthcare, Commercial Buildings, Retail, Govt. & Transportation, Hospitality, Oil & Gas, Others)
3. By Geographic Region (East, West, South, North)
4. By Competitors (Carrier, Daikin, LG Electronics Inc., Samsung Electronics Co. Ltd., Trane, Midea Group Co. Ltd., Others)
Key questions answered in the study:
1. What are the current and future trends of the Libya air conditioner market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Libya air conditioner market?
6. What are the customer orientation, purchase behavior, and expectations from the air conditioner companies across various regions?