Africa Air Conditioner market is likely to attain around 7.5% CAGR during the forecast period. It owes to extreme weather conditions due to the increasing number of hotter days from increasing climate changes and the growing discretionary income of people. The launch of environment-friendly air conditioners is primarily due to the surging demand for energy-efficient air conditioners because of rising environmental concerns.
Key questions answered in the study:
According to MarkNtel Advisors' research report "Africa Air Conditioner Market Analysis, 2020," the market is likely to grow at a CAGR of 7.5% during 2021-26F. Based on End-User, the Commercial sector acquired a significant market share in the Africa air conditioner market. The hospitality sector is continuously attracting foreign direct investment due to the rising government focus to boost tourism in the country. The soaring spending by international hotel chains in the country and growing funding for infrastructural developments shall propel the demand for air conditioners in the forecast period. Besides, air conditioning systems for commercial buildings are also likely to boost the overall market growth.
“Africa Air Conditioner Market Analysis, 2020” provides comprehensive, qualitative, and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Air Conditioner providers across the Region. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which would help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
South Africa Accounted for the Majority Market Share
South Africa accounted for the majority market share in the Africa Air Conditioner market in the previous few years due to soaring investments by the government in various commercial & residential projects, growing urban populace, and surging purchasing power of consumers. Besides, the surging number of international hospitality brands like Hyatt and Radisson, soaring government initiatives in various housing development projects, and energy efficiency policies for room air conditioners shall further fuel the overall market growth in the forecast years, states MarkNtel Advisors in their research report, "Africa Air Conditioner Market Analysis, 2020."
According to MarkNtel Advisors, the key players with a considerable market share in the Africa Air Conditioner market are Airconditioning & Heating International Carrier Fzc, Daikin Middle East and Africa FZE, Samsung Electronics Co. Ltd., LG Electronics, Midea Middle East, Sharp Middle East Fze, Haier Electronics Group Co., Ltd., Dunham-Bush International (Africa) (PTY) Ltd, Trane Inc., Gree Electric Appliances, Inc. Of Zhuhai, etc.