RAC/PAC
2.10 LATIN AMERICA: Mexico
According to the IMF, Mexico’s GDP growth rate was projected to reach 2.2% in 2017 to mark three consecutive years of positive growth. In 2017, the RAC market in Mexico grew by 5.0% to 859,000 ...
2.10 LATIN AMERICA: Argentina
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 i...
2.10 LATIN AMERICA: Brazil
According to the IMF, Brazil’s GDP growth rate ended at -3.6% in 2016, continuing the negative growth posted the previous year. In 2017, the country finally posted positive growth of 0.7%. Howe...
2.10 LATIN AMERICA
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. I...
2.9 MIDDLE EAST: Iraq
Iraq’s air conditioner market was recovering in 2017 and reached a market scale of 341,000 units. RACs dominate the market and increased by 8.2% year on year. Due to sanctions on Iran several years ago, foreign companies have found it very difficult to export products to Iran. A large number of air conditioners have been re-exported to Iran from the borders of Iraq, Turkey, and Jordan. It f...
2.9 MIDDLE EAST: Iran
Sales total of RACs and PACs in Iran recorded 532,000 units in 2017, an increase of 4.8% from 2016. Smuggled air conditioners are common in the market. In January 2016, the United States lifted...
2.9 MIDDLE EAST: UAE
In 2017, UAE RAC market scale decreased by 2.8%, down to 537,000 units, and PAC sales also decreased to about 192,000 units. Window-type units comprised approximately 50% of the RAC market. Des...
2.9 MIDDLE EAST: Saudi Arabia
Saudi Arabia is still experiencing economic stagnation due to the fall in oil prices, and a sense of political uncertainty lingers. The RAC market reached about 1.4 million units, a decrease of 14.4% ...
2.9 MIDDLE EAST
The Middle Eastern market has not yet escaped from stagnant growth, with the economy hurt by falling oil prices and political instability. According to the IMF, economic growth rates in the all major ...
2.8 OCEANIA: New Zealand
New Zealand was experiencing a housing boom until February 2017, but this trend took a downturn in April. Sales of heat pump air conditioners did not increase, partly due to many warm days in the winter. The 2017 RAC market in New Zealand was at the same level as the 2016 market. Fujitsu General, Mitsubishi Electric, Daikin, and Panasonic lead the market. South Korean manufacturers such as ...
