In 2015, the Latin American economy was deteriorating. Brazil experienced an especially heavy economic slide that was impacted by a decelerated growth rate in China.
Latin American air conditioner demand decreased by 5.0% overall in 2015. Brazil, Argentina, and Mexico were the top three air conditioner markets in Latin America, with a combined market scale of 6.3 million units in 2015.
In the Latin American air conditioner market, mini-split air conditioners took almost 80% of the market, with window-type air conditioners accounting for the remaining 20%. Demand for portable air conditioners has grown over the last several years and surpassed 114,000 units in 2015.