Australia Air Conditioner Market Size Set to Cross USD 3.2 Billion by 2029

Published | 26 July 2023

Australia air conditioner market is flourishing due to rapid urbanization, increasing disposable income, changing climatic conditions, a growing focus on energy-efficient solutions, and the need for improved indoor air quality.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Australia air conditioner market size at USD 2,220 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Australia air conditioner market size to grow at a CAGR of 6.4% reaching a value of USD 3,224 million by 2029. A growing demand for energy-efficient air conditioning systems as consumers look for environmentally friendly solutions and try to use less energy is a major element behind the growth of the Australian air conditioner industry. As a result, inverter technology, which offers higher energy efficiency and precise temperature control, is being used more frequently. The popularity of smart air conditioners, which can be remotely operated via mobile devices and offer convenience and energy management features, is another trend. Additionally, customers are placing a higher priority on air filtration and purification capabilities because they want clean, healthy indoor air. Overall, as worries about the possibility of global warming increase, the market is seeing a trend toward more environmentally friendly refrigerants like hydrofluoroolefins (HFOs).

Australia Air Conditioner Market – Overview

Air conditioner, an electric appliance, is used to chill and dehumidify the air in a closed room. It is frequently used in homes, workplaces, and other structures to keep the interior temperature at a tolerable level during hot weather. Using a refrigeration cycle, air conditioners operate by removing heat from the inside air and transferring it outdoors. They are made up of parts that cooperate to circulate and chill the air, including a compressor, condenser, evaporator, and expansion valve. By regulating temperature and humidity levels, air conditioners provide relief from hot weather, enhance indoor air quality, and make living spaces more comfortable for occupants.

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Impact of COVID-19 on Australia Air Conditioner Market

The COVID-19 pandemic significantly impacted on Australia air conditioner market. With the implementation of lockdowns and travel restrictions, the construction and real estate sectors, which are major consumers of air conditioners, experienced a slowdown. It led to a decrease in the demand for new installations and replacements. Also, consumer spending was adversely affected due to economic uncertainties and reduced incomes, resulting in a decline in discretionary purchases such as air conditioning units. However, as restrictions eased and people spent more time at home, there was a surge in demand for residential air conditioners. The market also witnessed a shift towards more energy-efficient and sustainable cooling solutions as environmental concerns gained prominence. Overall, the pandemic had a mixed impact on the Australia air conditioner market, with varying trends across different segments.

Australia Air Conditioner Market – By End User

Based on end user, Australia air conditioner market is divided into Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, and Hospitality segments. Residential is the largest end-user segment in the Australia air conditioner market. As one of the major segments, residential air conditioning accounts for a significant portion of the market demand. With a growing population and increasing urbanization, there is a rising need for air conditioning solutions in homes across Australia. Changing climate patterns, higher disposable incomes, and improving living standards contribute to the increasing demand for residential air conditioners. The residential sector includes individual households and apartments, making it a substantial segment in terms of market size and consumer base. Manufacturers and suppliers focus on providing energy-efficient and cost-effective solutions to meet the growing demand in this segment.

Competitive Landscape

Australia air conditioner market is fiercely competitive. Major companies in the Australia air conditioner market include Daikin Australia Pty Limited, LG Electronics Australia Pty Ltd, AHIC (Australia) Pty Ltd (Carrier), Fisher & Paykel Australia Pty Limited (Haier), Samsung Electronics Australia Pty. Ltd, Panasonic Australia Pty Ltd, Rinnai Australia Pty Ltd, Mitsubishi Electric Australia Pty Ltd, Electrolux Home Products Pty Limited, and Actron Engineering Pty Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Australia air conditioner market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Australia Air Conditioner Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Australia Air Conditioner Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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