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Can the European Market Grow for Two Consecutive Years?
2017/07/23
In June, European countries experienced intense heat waves and the highest temperature topped 35℃ in an increasing number of regions. Will this intense heat for two consecutive years boost European demand for room air conditioners (RACs) again this year?
 
In the European market last year, because of the intense heat, RACs sold like hot cakes, mainly in Italy, Spain, and other Southern European countries. Compared with last year during which RAC sales increased rapidly due to fine weather in April and May, RAC sales this year started later. Until March, the number of units sold barely maintained the same level as last year in many regions. From April to May, due to bad weather, RAC sales remained sluggish. In Italy in particular, RAC sales showed a very marked drop compared with the previous year. Accordingly, distributors in Europe had rising inventories on their hands. However, thanks to the intense heat experienced by Europe in June this year, those inventories are going to be digested. This stands in sharp contrast to the previous year during which demand began to drop suddenly from June, and inventories began to increase accordingly. Regionally, due to the hot spell, RACs sold well in Spain, Portugal, and France as in the previous year. At the end of June, the intense heat waves began moving from Western Europe to Eastern Europe. If, towards mid-summer, hot days occur frequently in many regions, total annual sales this year will very likely approach 5.7 million units as recorded in the previous year, industry experts predict.
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