Bangladesh Air Conditioner Market (2020-2026) | Size, Share, Revenue, Analysis, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

Bangladesh Air Conditioner Market report thoroughly covers the market by types, applications, and regions. The Bangladesh air conditioner market outlook report provides an unbiased and detailed analysis of the Bangladesh air conditioner market trends, opportunities high growth areas, and market drivers which would help the stakeholders device and align their market strategies according to the current and future market dynamics.

Latest 2023 Developments of Bangladesh Air Conditioner (AC) Market

Bangladesh Air Conditioner (AC) Market is growing, driven by increasing urbanization, rising disposable income, and awareness of energy efficiency. In recent years, there has been a shift towards inverter ACs, which offer greater energy efficiency compared to traditional ACs. Brands such as LG, Samsung, Mitsubishi, and Daikin are popular in Bangladesh. The air conditioner market has seen significant growth in recent years, with increasing demand for cooling solutions due to rising temperatures and a growing middle class. The major brands offer a variety of air conditioning solutions including split and window ACs. The market is expected to continue growing, with a focus on innovation and the introduction of new technologies such as smart ACs, which can be controlled through smartphones and offer improved comfort and convenience.

Bangladesh Air Conditioner Market Synopsis

Bangladesh Air Conditioner Market is anticipated to grow in the coming years on the account of rising urbanization and an increase in per capita income of people due to Vision 2021 and 2041. Moreover, acceptance of air conditioning systems as a utility product rather than a luxury product is also augmenting the growth of the market in the country. Further, an increase in the sales of power efficient range of air conditioning systems along with the rising adoption of superior technology is anticipated to proliferate the double-digit growth of the air conditioner market in the country. However, the ongoing global pandemic COVID-19 hampered the overall economic growth of Bangladesh, thus, restraining the growth of the Air Conditioner market as well.

According to 6Wresearch, Bangladesh Air Conditioner Market size is projected to grow at CAGR of 15.9% during 2020-2026. There is no doubt that the emergence of the COVID-19 pandemic has affected the majority of the market across the world. The Bangladesh air conditioner market has also suffered a downfall during this timeframe owing to the complete nationwide lockdown in the country to contain the spread of coronavirus which has interrupted production and hindered demand for air conditioners. Also, a downfall in the hospitality sector along with low construction activities of hotels, restaurants, and guest houses has led to a decline in the demand for air conditioners in the country. Although, the air conditioner market is projected to grow at a healthy rate in the coming period as the economy resumes normalcy.

The substantial growth in the residential sector coupled with the rising construction of buildings in housing societies is expected to add to the Air conditioner market share in Bangladesh. Additionally, the growing number of construction projects across metros and the establishment of SMEs are proliferating the growth of the market. 

Market Analysis by Types

Based on types, the centralized air conditioner segment has captured the majority of the market revenue share in 2019, and would also lead during the forecast period, where the VRF segment is expected to witness substantial growth over the forecast period. The central region currently holds the major revenue share in the overall Bangladesh air conditioner market on account of infrastructural developments and the relatively high disposable income of people in cities such as Dhaka. Moreover, the eastern region is expected to register significant growth over the coming years owing to the development of hotels and restaurants in Chittagong.

Key Highlights of the Report:

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects