Technavio, a tech-focused market research firm, has published a new report on global inverter technology air conditioner market, which is expected to experience a slow but steady growth rate with a CAGR of close to 13% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global inverter technology air conditioner market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global inverter technology air conditioner market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global inverter technology air conditioner market for 2015 (market share %)
|
APAC |
60.56% |
|
Americas |
24.83% |
|
Europe |
9.22% |
|
MEA |
5.39% |
Source: Technavio
Inverter technology air conditioner market in APAC
APAC is the largest market for inverter technology air conditioners, accounting for around 61% share in the market. The major end-users in the region are South Korea, Japan, Australia, Russia, India, and China. Among these countries, Japan and China are the largest market for inverter technology air conditioners. A Japanese company, Toshiba Carrier, was the first to introduce this technology in the region.
“Japan is the largest market for inverter technology air conditioners, not only in APAC but also in the world, as it is home to some of the big vendors such as Hitachi, Panasonic, Mitsubishi Electric, and Toshiba Carrier. The first use of inverter technology in home appliances such as air conditioner gained substantial prominence and recognition in the domestic market, thereby making Japan the leader in this technology,” says Poonam Saini at Technavio for research on home, kitchen, and large appliances.
The inverter market in Japan is influenced by the consumer’s conscious behavior regarding the benefits of using energy-efficient appliances. China is the second-largest market for inverter technology air conditioners with Haier as the largest player in the country.
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Inverter technology air conditioner market in Europe
The key revenue generators of air conditioner market in Europe are Italy, France, Germany, and the UK. There was a slow growth in the European market due to the absence of large scale projects in these countries and the mild climatic conditions in Europe which do not encourage the purchase of air conditioners for residents. Moreover, Europe is very much dependent on imports from Japanese and Korean companies due to the lack of an integrated production structure and economies of scale in the region. The two major regional vendors in Europe are Robert Bosch and Arçelik.
Among the various countries, Germany is one of the leading markets for inverter technology air conditioners, and over 90% of the market is dominated by air conditioners that use inverter technology. The air conditioner market in Germany is highly affected by the improved lifestyle of the people and replacement of household air conditioners. Technavio anticipates that the high internet penetration and growing popularity of wireless communication devices will increase the adoption and use of smart connected air conditioners. Besides Germany, Italy is also one of the major markets for air conditioners with over 93% penetration of inverter technology air conditioners which is expected to be around 100% during the forecast period. Replacement purchases mostly drive the inverter technology air conditioner market in Italy.
Inverter technology air conditioner market in the Americas
The US and Brazil are the major revenue generators for inverter technology air conditioners in the Americas. In the North American market, the demand for air conditioners is increasing especially in the US and Canada and is expected to continue during the forecast period. It is anticipated that the growing demand for energy-efficient products in the US will propel growth in the market during the forecast period. The US is highly dependent on Japanese and South Korean players for the imports of inverter technology air conditioners. Popular players that offer inverter technology air conditioners in the country are LG Electronics, Samsung, Toshiba Carrier, Daikin Industries, Mitsubishi Electric, and Hitachi. The vendors are trying to generate demand among consumers in the country, with the help of technologies like linear inverter and digital inverter that offer performance benefits and higher compressor life.
Inverter technology air conditioner market in MEA
The market in MEA is driven by imports, with Egypt, Saudi Arabia, Alegria, Qatar and Morocco as the leading contributors. The demand for air conditioners is high in the Middle Eastern countries, such as Qatar, Saudi Arabia, and Kuwait, due to the extreme climatic conditions during summers. More emphasis is laid on energy-efficient appliances, which is increasing the demand for air conditioners with innovative technologies, such as the inverter compressor technology. Governments in Saudi Arabia and various other Middle Eastern countries have made it compulsory for manufacturers to sell energy-efficient appliances in the region, which will further spur growth in the air conditioners market during the forecast period. Daikin Industries is one of the leading players in this market. In Africa, North African countries such as Egypt and Algeria are emerging as key markets for air conditioners.
The top leading vendors operating in the global inverter technology air conditioner market are:
- Daikin Industries
- Haier
- Johnson Controls
- LG Electronics
- Mitsubishi Electric
- Panasonic
- Samsung
- Toshiba Carrier
- United Technologies
Other prominent vendors in the market include Blue Star, Electrolux, Godrej Group, GREE ELECTRIC APPLIANCES, Hisense Group, Midea Group, Robert Bosch, Sharp, Voltas (TATA), and Whirlpool.
A more detailed analysis is available in the Technavio report tilted, ‘Global Inverter Technology Air Conditioner Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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