RAC/PAC
1.10 Latin America
In 2015, the Latin American economy was deteriorating. Brazil experienced an especially heavy economic slide that was impacted by a decelerated growth rate in China. Latin American air conditio...
1.9.4 Others
The Iraq air conditioner market decreased 1.8% from 2014 to 2015 due to increasing political and economic challenges. The local market was dominated by Chinese manufacturers. According to Haier, over 1 million air conditioner units were exported from China to Iraq, indicating slight year-on-year growth. Due to sanctions on Iran several years ago, foreign companies have found it very difficu...
1.9.3 Iran
The Iranian air conditioner market remained flat in 2015. The market volume of wall-mounted air conditioners was 500,000 units. In January 2016, the United States lifted sanctions on Iran. The foreign exchange rate was chaotic, but the Iranian government enacted policies to ease finances. It is expected that market demands will recover to a sound level in a few months. A double digit growth...
1.9.2 UAE
The UAE maintained a relatively stable political status among Middle Eastern countries. The local economy was driven by overseas investment and tourism. The population continues growing and has strong...
1.9.1 Saudi Arabia
Saudi Arabia is the largest market in the Middle East. In 2015, the Saudi Arabian market scope came to 2.1 million units, showing 12.6% year-on-year growth, after the slump in 2013 and rebound in 201...
1.9 Middle East
The Middle Eastern air conditioner market was 5.7 million units in 2015, a 4.4% increase from the previous year. Saudi Arabia and the United Arab Emirates (UAE) are major markets in the Middle ...
1.8 Australia
In 2015 the Australian air conditioner market showed a 1.1% year-on-year growth, and reached over 870,000 units. Heat pump models accounted for 80% of the market. Due to some of the strictest energy-e...
1.7 Korea
The 2015 Korean air conditioner market scope was estimated at 1.4 million units. The air conditioner penetration rate stood at 70% in the country, lower than that of televisions, refrigerators,...
1.6 Japan
The Japanese GDP annual growth rate in 2015 was 0.5%. Although exports and production were affected by the economic slow-down in emerging countries, the Japanese economy as a whole continued to recove...
1.5.7 Russia
The Russian economy has continued to shrink with negative GDP in the current year. But the longer term prospects are more optimistic with positive growth forecast for the country’ economy by 2017. Nev...
