OVERVIEW

1:World Air Conditioner Market – 2024 Update – 1. OVERVIEW

World Air Conditioner Market – 2024 Update – 1. OVERVIEW

The global economy has overcome challenges and bounced back in 2023, with the supply chain and shipment returning to normal. However, inflation has soared globally, and prices have risen rapidly. The air conditioning market has grown unevenly due to frequent extreme weather events. Markets in emerging regions such as China, India, and Southeast Asia have grown tremendously. Latin Americ

OVERVIEW

1:World Air Conditioner Market – 2024 Update – 1. OVERVIEW

The global economy has overcome challenges and bounced back in 2023, with the supply chain and shipment returning to normal. However, inflation has soared globally, and prices have risen rapidly. The ...

2.1:2. REGIONAL — 2.1 NORTH AMERICA

United States The inflation rate dropped to 3.2% in November from a high of 7.1% in June 2023, and is closer to reaching the 2% target set by the central bank. The unemployment rate in the United Sta...

2.2:2.2 CHINA

The bottleneck of the Chinese air conditioner supply chain eased with the full relaxation of pandemic control measures at the end of 2022. In 2023, RAC manufacturers advanced production to solve the t...

2.3:2.3 SOUTHEAST ASIA

Overall, the air conditioning market in Southeast Asia was effervescent in 2023. The main markets, in Indonesia, Vietnam, Thailand, the Philippines, and Malaysia, all maintained good growth. The weath...

2.4:2.4 INDIA

Reported by Rakesh Kumar, consulting editor, ISHRAE Journal Economic Scenario The Indian economy has shown remarkable resilience during 2023 despite the challenges in the aftermath of the pandem...

2.5:2.5 Europe

Europe experienced mild weather most of the time in 2023, but several parts of southern Europe including Spain suffered from sizzling heat waves. The RAC market grew fast, and a lot of inventory has b...

2.6:2.6 MIDDLE EAST

The Middle East economy is dynamic, driven by rising oil prices. Many countries in the region faced extreme heat during the summer. The air conditioner market in the Middle East grew well in compared ...

2.7:2.7 AFRICA

JARN estimates that the African air conditioning market increased by 6.0% year on year in 2023, reaching 3.79 million units. The growth of the African market is mainly attributed to the relatively ...

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INTERVIEW

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