Headline News Volume 597
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eJARN.com Headline News
Date: Sep 17th, 2021, Volume 597
( http://www.ejarn.com )
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< Aug Regular edition>
1. Review of the Global AC Market in the First Half of 2021 - Europe
The European RAC market scale in the first half of 2021 is estimated to have increased by 10.1% compared with the same period in 2020. In Europe, new working modes such as working from home are becoming widespread. Therefore, in order to make the home environment comfortable and safe when spending more time at home, the purchase of RACs is an ongoing trend centered on models with air purifying functions. Replacement demand is centered on Southern Europe in countries such as Italy and Spain, and new demand is centered on countries in mid-latitude regions such as Germany, the Netherlands, and the United Kingdom, which were unfamiliar with air conditioners in the past.
Aug Regular page 14
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2. Review of the Global AC Market in the First Half of 2021 - Southeast Asia
Due to the influence of the Delta variant, the number of infected people in Southeast Asian countries has increased significantly this year compared with last year. Therefore, lockdowns have been performed intermittently and the overall economy has been unstable. The Southeast Asian RAC market scale in the first half of 2021 is estimated to have decreased by 7.3% compared with the same period in 2020, due to strict restrictions such as lockdowns and unseasonable weather. In some areas, the weather started to recover in June, and RAC sales suddenly accelerated.
Aug Regular page 18
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3. Review of the Global AC Market in the First Half of 2021 - North America
Consumer confidence has increased substantially in the first half of 2021. Unemployment continues to edge downward. Both replacement and construction demand remains very strong, bolstered by a growing housing market and an increased personal savings rate, as a result of last year’s interest rate cuts and household stimulus from the federal government. In the United States, remote working and online lessons have been continuing. The U.S. mini-split market in the first half of 2021 is estimated to have increased by 11.4% compared with the same period in 2020 due to the stay-at-home demand. Of mini-splits, the low-end inverter models are the mainstream. Meanwhile, window market also showed good growth in the first half of 2021.
Aug Regular page 24
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4. Review of the Global AC Market in the First Half of 2021 - India
The second wave of the COVID-19 pandemic adversely affected the Indian room air conditioner (RAC) market during the period from January to June 2021. Nationwide restrictions on opening of shops including e-commerce and movement of people, almost as strict as a lockdown, were applied in most of the states in the country during the peak summer season of April 15 to June 10, resulted in significant loss of sales, leaving the manufacturers and the trade saddled with large inventories of components and finished goods, respectively. However, sales during the remaining first half of 2021 grew significantly over 2020. It is estimated that secondary sales would clock up growth of 30 to 35% over the first half of 2020, though on a low base.
Aug Regular page 26
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5. EU Targets 55% GHG Emissions Reductions by 2030
On July 14, 2021, the European Commission (EC) adopted Fit for 55, a package of proposals to make the European Union’s (EU’s) climate, energy, land use, transport, and taxation policies fit for reducing net greenhouse gas (GHG) emissions by at least 55% by 2030 compared with 1990 levels, which was increased from 40% set in the European Green Deal, to achieve climate-neutral by 2050.
Aug Regular page 32
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