According to recent findings, the Africa Air Conditioner Market is projected to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30.
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Africa Air Conditioner Overview:
The market is driven by the rapidly growing home ownership across the continent, particularly in established nations like South Africa, Kenya, and Nigeria. Further, climate change, a growing market trend for better lifestyles, and advancements in the power grid system are other factors that could aid the Africa Air Conditioner market in gaining traction. In fact, as per the International Energy Agency, the electricity demand for ACs is likely to jump 10-fold across Africa by 2040, clearly hinting at their upward graph in the coming years.
However, they witnessed a significant decline in their demand due to the worldwide lockdown imposition, thereby interrupting production sales due to the closure of manufacturing disruptions in the income cycle of consumers. But, after the upliftment of the lockdown, the market has revived is flourishing at a fast pace. Furthermore, in the subsequent years, as consumer disposable income rises household ownership of electronic equipment rises, there will be a greater need for air conditioners throughout Africa, opening up a wide range of opportunities for the market for these products to expand.
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Africa Air Conditioner Outlook and Opportunity :
Proliferating Hospitality Industry Across African Countries - The Hospitality sector is projected to expand in African countries by garnering attention from international hospitality brands such as Hyatt, Radisson, and Marriott, raising consumers' interest. This expansion would quicken the sales of ACs, citing Africa's warm climate. In addition, it would aid in expanding the air conditioner supply by generating additional demand for VRF and chillers to support their infrastructural needs. According to the study, the investments made in Africa to build the nation and infrastructure also increase the disposable income of many people, resulting in the continued growth of the industry across the region.
Global Africa Air Conditioner Segmentation Analysis:
By Product Type
- Window, Split
- Floor Standing
- Cassette
- Packaged
- Ducted Split
- Condensing units/VRF
- Chillers
- AHU/FCU
According to reports, Split Air Conditioner acquired a significant share of the Africa Market in the previous few years.
By End-User
- Residential
- Commercial
According to reports, Here, Commercial Sector is anticipated to witness massive adoption of air conditioners over the forecast period.
By Country
- South Africa
- Nigeria
- Kenya
- Algeria
- Morocco
According to reports, Among others, South Africa is expected to attain a sizable share in the African air conditioner market on account of shifting environmental patterns and escalating degrees of global warming each year.
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Some of the Market players in the Global Africa Air Conditioner 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.
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