Africa Air Conditioners Market To Witness Growth Of Over 9% Until 2024

By Goldstein Market Intelligence || 2018-10-12 11:21:02 AM

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Africa Air Conditioners Market

Market Overview

According to Goldstein Research, “Rising urbanization and growing disposable income of people which is significantly resulting in increased sales of consumer electronics, are the key factors for the growth of the air conditioners market.” Further, growing commercial properties in South Africa is also anticipated to boost the growth of the air conditioners market. 

“Africa Air Conditioners Market Outlook 2024”

The Africa AC Market is segmented based on product type and by end users. The end-user segment is further bifurcated into residential and commercial air conditioners market. Residential air conditioners market accounted for the largest market of more than 85% revenue in Africa air conditioners market. Further, the residential segment is likely to maintain its dominance over the forecast period.

The Africa air conditioners market accounted for USD 1.1 billion in 2016 owing to increased shipments of air conditioners across Africa and the growing market of consumer electronics. Further, the market is projected to expand at a compound annual growth rate of 9.4% over the forecast period i.e. 2016-2024 and expected to reach USD 2.3 billion by the end of 2024.

Browse Full Report: Africa AC Market

According to the research report published by "Goldstein Research", South Africa is the largest region for air conditioners market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. South Africa air conditioners market valued more than USD 0.450 billion in 2016 and is estimated to reach USD 0.900 billion by 2024. South Africa is expected to dominate the air conditioners market followed by Egypt and Nigeria due to rising sales of air conditioners and disposable income in these countries.

Portable Air Conditioners: Opportunity

Africa region has some of the hottest weather in the world, with temperature often reaching over 40- degree Celsius in the summer months. With the rising temperature outside, the portable air conditioners sales are growing as the residents gear up to stay cool. While portable air conditioners are a cheaper alternative as compared to central air conditioner systems, they also have limits on how far the air will reach.

“Africa air conditioners Market Outlook 2024” contains a detailed overview of the Africa air conditioners market in terms of market segmentation by product type and by end users.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Africa Air Conditioners Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as Panasonic Corporation, Hitachi, Ltd., LG Electronics Inc., Ingersoll Rand, Whirlpool Corporation, Toshiba Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the Africa air conditioners market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Browse similar reports recently published by "Goldstein Research" on Underfloor Cooling System Market to get a detailed insight, market-oriented facts & figures of the Industry. Moreover, to get regional insights of the fastest growing market, read the market synopsis of Asia Pacific Underfloor Heating /Cooling Market.