Posted On: 2022-04-08
By Area Coverage, ducted air coolers with area coverage larger than 160 square meters captured largest market revenue share in overall Australia ducted air coolers market– 6Wresearch
Ducted air coolers with area coverage larger than 160 square meters is the segment which held the largest revenue share in the overall residential ducted air cooler market for the year 2020 owing to the large area of Australian households. Ducted gas heaters with sizes upto 20 KW held the largest revenue share in the overall residential ducted gas heater market for the year 2020 as it is the most suitable and feasible option for majority of Australian households.
By region, Eastern region acquired the largest market revenue share for both ducted air coolers and ducted gas heaters in 2020 and would continue to do so in the future owing to the huge preference for these products in the Australian Capital Territory and Victoria. Further, as of 2020, Victoria accounted for the largest revenue share for ducted gas heaters among all the states due to its cold climate and high penetration of natural gas connections throughout the state.
According to 6Wresearch, Australia Ducted Air Cooler Market revenue is projected to grow at a CAGR of 3.9% during 2021-2027 whereas Australia Ducted Gas Heater Market revenue is projected to grow at a CAGR of 3.6% during 2021-2027. Australia residential ducted air cooler and ducted gas heater market is expected to register growth during the forecast period owing to the growing number of households in the country. However, the overall penetration for both ducted air coolers and ducted gas heaters is expected to decline in the coming years on account of increasing competition from substitutes like reverse cycle air conditioners, portable heating and cooling products.
According to Mohit Poddar, Research Analyst, 6Wresearch, “The residential electricity prices and bills are expected to decrease in Australia over the forecast period owing to a projected decline in wholesale electricity costs and increasing share of renewable power generation in the country. However, the residential gas prices is expected to depict a reverse trend wherein the prices are expected to increase in the coming years after registering a sharp hike in 2020-21. Moreover, the ACT Energy Efficiency Improvement Scheme offers two activities which encourage households to switch from gas heating to reverse cycle air conditioning. Therefore, these factors would propel the consumers to switch towards alternatives for space heating and would negatively affect the growth of the ducted gas heater market in the coming years.”
Some of the major companies in Australia residential ducted air cooler and ducted gas heater market include Seeley International Pty Ltd, Rinnai Australia Pty Ltd and Climate Technologies Pty Ltd.
Australia residential ducted air cooler and ducted gas heater market (2021-2027)” report provides an in-depth analysis with 40 figures and 9 tables, covered in 95 pages. The report estimates and forecast the overall Australia residential ducted air cooler market by area coverage, by regions and ducted gas heater market by size, by star ratings, and by regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.