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The Latin America, Middle East and Africa Air Conditioning Systems Market would witness market growth of 7.8% CAGR during the forecast period (2021-2027).
The rise in the construction of residential complexes, hospitals, multiplexes, shopping malls, hotels, and auditoriums, especially in the developing nations like India and China, would accelerate the demand for the air conditioning systems market in the coming years. In addition, growing environmental concerns and numerous government policies and regulations for minimizing carbon emissions have resulted in the shifting preference of the consumers toward sustainable & energy-efficient AC systems around the world.
The non-inverter segment is anticipated to exhibit a significant growth rate during the forecast period. Factors like fluctuating frequencies, high energy consumption, and less lifespan are estimated to fuel the growth of the segment during the forecast period.
The rising demand for cooling and heating appliances in the Middle East region would augment the growth of the air conditioning systems market in this region. In addition, the increasing disposable income of the consumers along with the rising living standards across various nations would support the growth of the regional air conditioning systems market over the forecast period.
The Brazil market dominated the LAMEA Inverter Air Conditioning Systems Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,014 million by 2027. The Argentina market is estimated to grow a CAGR of 9.4% during (2021 - 2027). Additionally, The UAE market is estimated to witness a CAGR of 8.6% during (2021 - 2027).
Based on Type, the market is segmented into Unitary, Rooftop and PTAC. Based on Technology, the market is segmented into Non-Inverter and Inverter. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Hitachi, Ltd., Haier Smart Home Co., Ltd. (Haier Group Corporation), Whirlpool Corporation, Mitsubishi Electric Corporation, Trane Technologies PLC, Daikin Industries, Ltd., BSH Hausgeräte GmbH (Robert Bosch Group), Alfa Laval AB, and Electrolux AB.
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