RAC/PAC
1.10.2 Argentina
Argentine air conditioner market size is estimated at more than 1.4 million units in 2014, representing a 12.4% year-on-year increase, which is lower than the growth recorded in Brazil or Mexico. RAC, PAC, and VRF demand are expected to rise in the future along with increased construction of high-rise buildings and higher temperatures, mainly in urban areas. Air conditioners are main...
1.10.1 Brazil
Brazil is still experiencing an economic slump that shows few signs of recovery. Total GDP growth in 2014 was only 0.2%, which is lower than the 2.3% of the previous year. GDP growth in the constructi...
1.10 Latin America
Latin American air conditioner demand increased 14.6% overall in 2014. Brazil, Argentina, and Mexico are the top three air conditioner markets in Latin America, with a combined market volume of 8.62 m...
1.9.2 UAE
The UAE’s economy in 2014 showed solid signs of recovery from the 2008 Dubai debt crisis. As the country experiences a tropical desert climate with little rain and high temperatures year round, air co...
1.9.1. Saudi Arabia
The Saudi Arabian air conditioner market saw a 7.3% decrease year-on-year contraction in 2014 in reaction to distributors clearing out their inventories of RACs that did not meet the new MEPS enacted ...
1.9 Middle East
The Middle Eastern air conditioner market had a scale of 5.4 million units in 2014, a 3.1% increase from the previous year. Demand fell in Saudi Arabia, where distributors had pushed to get rid...
1.8 Australia
Australia had a generally hot summer, but its air conditioner market is mature and sales are stagnant. Australian air conditioner demand in 2014 is estimated at 861,000 units, marking a 2.1% growth. H...
1.7 South Korea
South Korea’s GDP grew 3.3% in 2014, a bigger gain than seen in the previous two years. However, the economic growth has not translated into satisfactory business gains due to weak private consumption...
1.6 Japan
After the Japanese consumption tax was raised from 5% to 8% in April 2014, the Japanese economy started to flat line. Japan’s GDP recorded negative quarter-on-quarter growth in the second and third qu...
1.5.7 Russia
GDP in 2014 was originally forecast by the Economics Ministry to be 2.5% but in reality it was close to zero and is likely to be negative in 2015. Inflation is running high at 9%. Construction industr...
