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Air conditioner in a central heating and cooling system that cools a space by eliminating heat, controlling the temperature and humidity of air within a space.
Market Segmentation
Split Air Conditioner Acquired the Significant Market Share
Based on Product Type, Split Air Conditioner acquired a significant market share in the Africa Air Conditioner market in 2019. The deployment of split air conditioners in residential and small commercial buildings is burgeoning at a rapid. The split air conditioners are cost-effective, thereby it helps in lowering the household energy expenditure and also it is easy to install. Moreover, a significant rise in the number of the various housing development project and the increasing adoption among the hospitality sector are the factors anticipated to accelerate the growth of Air Conditioner in the coming years as stated by the MarkNtel Advisors’ research report “Africa Air Conditioner Market Analysis, 2021”.
Market Opportunities
According to MarkNtel Advisors’ research report “Africa Air Conditioner Market Analysis, 2021”, the market is anticipated to grow at a CAGR 7.5% during 2021-26. To lower energy footprint created by the air conditioner, the demand for an environmentally friendly and energy-efficient air conditioner is increasing to reduce GHG emission and electricity consumption. In order to curb the greenhouse gas emissions by 40 million tons by 2040, stricter air conditioning efficiency standards are adopted by the African countries. According to the International Energy Agency, the demand for electricity for air conditioners is likely to jump 10-fold across Africa by 2040.
Impact of COVID-19
The COVID-19 pandemic has adversely affected the air conditioner market due to a decline in the demand for air conditioner due to nationwide lockdown in the countries. Thus, this has interrupted the production and sales of air conditioner due to the closure of the manufacturing disruptions in the income cycle of consumers. Besides this, a halt in the various construction activities of hotels, restaurants, and other residential and commercial projects has also hindered the growth of the market. However, the market is predicted to resume at a significant rate in the near future.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Africa Air Conditioner market include 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.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Africa Air Conditioner Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Billion and units sold in million.
Q. What would be the growth rate or CAGR of Africa Air Conditioner Market during 2021-26?
A. The Africa Air Conditioner Market during 2021-26 is expected grow at a CAGR of 7.5%.
Q. Who are the key competitors or players operating in Africa Air Conditioner Market?
A. 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., are few of the leading players in the Africa Air Conditioner Market.
Q. Which end-user segment would emerge as an opportunity area for players in Africa Air Conditioner Market?
A. Residential segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which country would emerge as an opportunity area for players in Africa Air Conditioner Market?
A. South Africa continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Africa Air Conditioner Market.
