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2.10 LATIN AMERICA: Argentina
2018/01/22
According to the IMF, Argentina’s GDP growth rate ended 2016 at a dismal -2.3%, but finally turned positive in 2017 with growth of 2.5%.
 
Argentina is the second-largest air conditioner market in Latin America. Its RAC market scale in 2017 was estimated at more than 1.4 million units, representing a 9.9% year-on-year increase. Demand for air conditioners is expected to rise in the future due to increased construction of high-rise buildings and higher temperatures, mainly in urban areas.
 
Air conditioners are mainly sold through retail stores in Argentina. Fravega, Megatone, Radio Victoria, and Garbarino are some of the leading retailers in the country.
 
U.S. brands dominated in the past, but now South Korean and Chinese brands are also expanding their presence. A large number of OEM air conditioners supplied by Chinese manufacturers including Gree, Midea, and TCL are available in the market.
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