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2.5 EUROPE: Italy
2018/01/21
Italy is the largest air conditioner market in Europe, but the air conditioner penetration rate is a mere 30%. In 2016, sales of air conditioners in Italy exploded due to the intense heat and caused inventory shortages. To meet needs in the hot market, manufacturers have in-creased their production levels, but the weather did not get as hot in the second half of 2016, resulting in higher inventory levels. Manufacturers then started 2017 with distribution stock to get rid of. In addition, summer in 2017 arrived later than the year before, and the northern part of Italy where demand is concentrated failed to see scorching temperatures. Although the Italian RAC market began recovering in June, it fell overall in 2017 compared with 2016, reaching around 1.0 million units.
The 3-5 hp PAC segment, including single-split and multi-split types, decreased by 1.8% year on year in 2017. Italy is one of the most important markets for multi-splits in Europe.
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