Air conditioner in a central heating and cooling system that cools a space by eliminating heat and controlling the temperature & humidity of the air within that 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 the previous few years. The deployment of split air conditioners in residential and small commercial buildings is burgeoning at a rapid pace. Split air conditioners, being cost-effective and easy to install, helps lower household energy expenditure. Moreover, the significantly rising housing development projects and the increasing adoption rate of Air Conditioners in the hospitality sector are crucial factors likely to accelerate the market growth in the coming years, states MarkNtel Advisors in their research report, "Africa Air Conditioner Market Analysis, 2021."
According to MarkNtel Advisors' research report "Africa Air Conditioner Market Analysis, 2021," the market is likely to grow at a CAGR of 7.5% during 2021-26. For reducing the energy footprint created by air conditioners, the demand for environment-friendly and energy-efficient air conditioners is increasing to reduce GHG emission and electricity consumption. Similarly, to curb greenhouse gas emissions by 40 million tons by 2040, strict air conditioning efficiency standards are being adopted by African countries. Moreover, as per the International Energy Agency, the electricity demand 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 Africa Air Conditioner market. Air conditioners have witnessed a significant decline in their demand due to the worldwide lockdown imposition, thereby interrupting the production & sales of air conditioners due to the closure of the manufacturing and disruptions in the income cycle of consumers. Besides this, a halt in various construction activities of hotels, restaurants, and other residential & commercial projects further hindered the market growth. However, with the lockdown upliftment, the market is reviving and shall grow significantly in the forecast years.
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 are historical, base, and forecast years considered in the research report on Africa Air Conditioner Market?
The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
The measuring units of market value and volume are USD Billion and millions, respectively.
Q. What would be the growth rate or CAGR of the Africa Air Conditioner Market during 2021-26?
The Africa Air Conditioner Market during 2021-26 is likely to grow at around 7.5% CAGR during 2021-26.
Q. Who are the key competitors or players operating in Africa Air Conditioner Market?
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 a few 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?
The residential segment is likely 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?
South Africa shall continue to grow at the highest CAGR, thereby presenting immense opportunities to manufacturers & suppliers of the Africa Air Conditioner Market.
