Australia Air Conditioners Market to be dominated by Commercial sector with 71.98% market share in 2028F
Surging issue of rising
temperature, availability of energy efficient cooling systems, increasing usage
of air conditioners within commercial places are the certain factors which will
drive the Australia Air Conditioners market in the forecast years.
According to TechSci Research
report, “Australia Air
Conditioners Market - By Region, Competition, Opportunities and Forecast, 2018-2028F,”
the Australia
Air Conditioners market is expected to project impressive growth with the CAGR
of 6.52% in the forecast period, 2024-2028F due to rapidly surging demand from
the residential industry as well as the growing commercial sector in Australia.
From 35% of the global
population today to nearly 45% in 2030, there is expected to be a surge in the
adoption rate of air conditioners as a result of rising temperatures, urbanization,
improved living standards and growing demand for residential and commercial
spaces. Furthermore, rising availability of energy-efficient air conditioners with
the growing requirement as per the government norms, growing online sales of
air conditioners, and surging demand from residential and commercial sectors
are also aiding to the growth of the Australia Air Conditioners Market in the forecast
years.
More than 10 million cubic
meters of cold room storage are needed in order to preserve the food for the
resident of the country and export some foods. With these developments, it is
obvious to maintain the efficiency in the air conditioning sector in order to
reduce carbon emissions, lower electricity use, and produce high-quality goods.
Through exports of goods and
services, domestic consumption of goods and services, and the number of people
who are either directly or indirectly dependent on industry employees, the
Australian air conditioners market significantly contributes to the country's
gross domestic product.
Browse over 29 market data
Figures and 6 Tables spread through 99 Pages and an in-depth TOC on “Australia Air Conditioners Market."
The Australia Air
Conditioners Market is segmented on the basis of end use sector, regional
distribution and competitional landscape. Based on end use sector, the market
is further fragmented into commercial and residential sector. Among them, the
commercial segment is expected to register a CAGR of 8.01% in the forecast
years and this sector is expected to dominate the market in the upcoming five
years account of surging development activities within the country which is
further propelling the market growth. For instance, over the past two decades,
the floor area of buildings has increased by more than 60%, and in this decade,
it is expected to increase by another 20%, bringing the total floor surface
area to close to 45 billion m2, which is expected to increase demand for air
conditioners. These are some of the major factors influencing the growth of commercial
sector within Australia Air Conditioners market.
Moreover, the commercial
sector is further categorized by product type into Variable Refrigerant Flow
(VRF), Ductable Split, Chillers, Single Packaged and others. Among these, the
VRF segment dominates the air conditioners market in Australia due to
increasing demand for such air conditioning systems iin recent years and due to
their benefits like energy efficiency, flexibility, and advanced controls. VRF
systems are designed to provide individualized temperature control in different
zones or rooms of a building, allowing for greater comfort and energy savings.
Key market players in the Australia
Air Conditioners Market include:
- Mitsubishi
Electric Australia Pty. Ltd.
- Electrolux Home
Products Pty Limited
- Panasonic
Australia Pty. Ltd.
- Samsung
Electronics Australia Pty. Ltd.
- Daikin Australia
Pty Limited
- LG Electronics
Australia Pty Ltd
- AHIC (Australia)
Pty Ltd
- Rinnai Australia
Pty Ltd
- Fisher &
Paykel Australia Pty Limited
- Actron
Engineering Pty Ltd
With the increasing
competition in the Australia Air Conditioners market, most brands are focused on producing new models
with the latest features. For instance, Mitsubishi Electric launched its new
Designer Series wall-mounted air conditioner range, which features a modern
design, enhanced comfort control, and Wi-Fi connectivity for remote control and
monitoring. Moreover, other notable air conditioner brands in Australia include
Fujitsu, LG, Panasonic, Samsung, and Hitachi, among others. These brands
frequently introduce new models and upgrades to their existing product lines,
with a focus on improving energy efficiency, enhancing user experience, and
incorporating new technologies such as smart controls and air purification. Such
factors are expected to boost the air conditioner industry in the future.
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“The launch of new air
conditioner models in Australia can vary by brand and season. Climate, building
regulations, and consumer preferences are the certain crucial factors which are
influencing the demand for air conditioners in Australian market. Furthermore,
rising usage of centralized air conditioners for different purposes like
cooling, preserving food products within food processing industries,
maintaining temperature are significantly influencing the development of the Australia
Air Conditioners market in the upcoming five years.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm. “Australia Air Conditioners Market By End Use Sector
(Residential, and Commercial), By Region, Competition, Forecast
& Opportunities, 2018-2028F,” has evaluated the future growth potential of Australia air
conditioners market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Australia air conditioners market.
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