RAC/PAC
2.5 EUROPE: Turkey
Turkey’s economy took a downturn in 2016 with the political instability in the country. The government’s subsequent political and economic initiatives appear to be having a positive impact, however. A...
2.5 EUROPE: Greece
According to a report by the IMF released in October 2017, Greece’s GDP growth rate was 1.8% in 2017 to finally show recovery after posting 0.01% growth in 2016. In addition, Greece enjoyed hot summer weather last year, similar to France. Sales of RACs in the 2017 Greek market grew by 1.0%, with the market scale reaching 210,000 units. Fujitsu General and its partner have a strong po...
2.5 EUROPE: Spain
According to the IMF, Spain’s GDP growth rate came to 3.1% in 2017, marking the third consecutive year of growth at the 3% level. Spain is the fourth-largest air conditioner market in Europe, f...
2.5 EUROPE: Italy
Italy is the largest air conditioner market in Europe, but the air conditioner penetration rate is a mere 30%. In 2016, sales of air conditioners in Italy exploded due to the intense heat and caused i...
2.5 EUROPE
Europe was hit with intense heat in 2016, and RACs were hot sellers from the start of the season, resulting in inventory shortages in countries like Italy. In contrast, the temperatures were not so hi...
2.4 INDIA
Reported by Rakesh Kumar, Technical Editor, ISHRAE Journal Economic Scenario India’s GDP grew 7.4% during fiscal year 2016 spanning April 2016 to March 2017, which called fiscal year 201...
2.3 S.E. ASIA: Myanmar
Myanmar’s air conditioner market scale was 297,000 units in 2017, up only 2.1% from 2016. Myanmar’s middle class is expected to grow, and the country has a population of over 50 million and an ...
2.3 S.E. ASIA: The Philippines
JARN estimates the Philippines air conditioner market scale at about 888,000 units in 2017, an increase of 9.7% compared with 2016. With a U.S. style air conditioner culture, an expanding middl...
2.3 S.E. ASIA: Vietnam
Personal income in Vietnam is growing, and the middle class is expanding rapidly, with a large young population. Presenting rapid growth, the air conditioner market in Vietnam has grown to be the seco...
2.3 S.E. ASIA: Singapore
With a delayed start, RAC demand in Singapore in 2017 decreased by 15% year on year to 131,000 units. Cooling-only multi-split air conditioners dominate the RAC market. In public housing provid...
