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2.5 EUROPE: United Kingdom
2018/01/21
In a nationwide referendum held on June 23, 2016, the United Kingdom voted to leave the EU in what is known as Brexit. According to the IMF, the UK GDP growth rate came to 1.8% in 2016 and is estimated at 1.7% in 2017. The economic impacts of Brexit are not yet fully understood, although they are expected to be better known by the end of October 2018, when negotiations on the terms of the exit are scheduled to be hammered out.
 
The UK market scale for RACs and PACs amounted to more than 256,000 units in 2017. The United Kingdom has a relatively cool climate, and the penetration rate of single-split RACs for residential use is about 1%.
 
The UK’s air conditioner market is mainly made up of PACs and VRFs, and professional air conditioner channels are the main sales channels. RACs are often used in stores, offices, and other light commercial applications to supplement air conditioning. Japanese manufacturers have a firm hold on the RAC, PAC, and VRF markets.
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