BSRIA has published its comprehensive range of global Air Conditioning reports. Recently published studies offer different levels of market analysis: from top line global data focusing on key market trends for different AC products, through regional analysis available for Africa and Latin America (the latter added this year), to an in-depth analysis providing detailed qualitative and quantitative information on the AC residential and commercial markets in key strategic countries in Europe and in the US.
In 2019, global sales of air conditioning units increased by just over 2% in terms of volume. Expansion of COVID-19 will disrupt market demand and the global supply chain in 2020 and only the most positive scenario expects sales to remain flat in the coming year.
In 2019, hot weather boosted the residential air conditioning market in Europe. Brands from Asia lead the residential sector. Across the European Union the HFC phase-down regulation is having a strong impact on products and prices with major countries progressing quickly with the change.
The healthy outlook of the US economy bolstered growth in the country’s air conditioning market in 2019. 2023 will be an important year, as efficiency standards for ducted and rooftop units are set to be enhanced and new refrigerants may be required at least in some states, such as California.
Latin America’s market analysis is a new addition to the BSRIA AC report offering. The air conditioning market in the region reached close to USD 5 bn in 2019, a year-on-year market growth of 6% exceeding that of North America. Brazil, Mexico and Argentina are the top three markets. Despite political and economic fluctuations, the market offers strong commercial opportunities, and several companies increased their sales in the region.
China, by far the biggest AC world market has seen a decrease in sales in 2019. In 2020 the market is expected to see a shift towards more efficient AC units. Due to new regulation on energy efficiency level starting in 2020, non-inverter and inverter splits with low efficiency will be rapidly phased down in China.
In the Middle East, Kuwait and Oman enforced new energy-saving standards. In India, the voluntary phase for energy efficiency labelling of chillers started in 2019 and will be compulsory from 2021 onwards.
The African air conditioning market represent strong potential but is still emerging nowadays. Chinese brands increased their presence through active promotion in these region.