The Africa Air Conditioner market is anticipated to grow at a high rate over the forecast period owing to extreme weather condition due to the increasing number of hotter days from climate change increases and the growing discretionary income of people. The launch of environment-friendly air conditioner due to surging demand for the energy-efficient air conditioner on account of rising environmental concerns and to curb both electrical demand and electrical usage. Besides this, burgeoning application in offices, shopping malls and manufacturing premises in an industrial building, snowballing cooling due to urbanization and escalating government investment for infrastructural development are the factors predicted to promulgate the growth of the air conditioner market the forecast period.
Key questions answered in the study:
According to MarkNtel Advisors’ research report “Africa Air Conditioner Market Analysis, 2020”, the Africa Air Conditioner market is anticipated 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 rising spending by the international hotel chain in the country along with growing funding for infrastructural development is projected to propel the demand for an air conditioner in the forecast period. Besides this, the launch of air conditioning systems by the market players for commercial buildings is also fueling the growth of the market.
“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 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 formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
South Africa Account for the Majority Market Share
South Africa accounted for the majority market share in the Africa Air Conditioner market in 2019. The growth is attributed to soaring investment by the government in various commercial and residential projects, growing urban populace and growing purchasing power of the consumer. Besides these, the rising presence of a number of international hospitality brands such as Hyatt and Radisson, the launch of various housing development initiatives by the government and the introduction of energy efficiency policies for room air conditioners are strongly contributing to the growth of the Air Conditioner in the forthcoming years as stated by the MarkNtel Advisors’ 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.