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2.10 LATIN AMERICA
2018/01/22
Economic recession in Latin America over the past three years has prompted many global companies, including U.S. and Japanese companies, to close local businesses and withdraw from the local market. It has also exacerbated the contraction of the local air conditioner market. However, the general opinion is that the economy has bottomed out and is recovering. The economy is expected to look up, led by recovery in prices in resources that are major exports for the region. Recovery in the air conditioner market is also anticipated.
 
Latin American air conditioner demand increased by 5.7% in 2017. Brazil, Argentina, and Mexico were the top three markets in the region, with a combined market scale of 5.2 million units in 2017. Air conditioners sold in Latin America are mainly imported from Asian countries including China. Few local brands are present in the marketplace.
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