Posted On: 2021-03-23
Room air conditioners acquired the largest revenue share in the air conditioner market of Egypt in recent years – 6Wresearch.
The Egypt Air Conditioner market witnessed moderate growth during the period 2017-2020 underpinned by rapid growth in population and rising urbanization in the country. The Egyptian government has placed a strong emphasis on infrastructure and construction as a key engine of urban growth and financial stability on account of IMF (International Monetary Fund) backed economic reform program, henceforth driving the growth of air conditioner market in the country. However, the covid-19 pandemic brought a decline in market revenues during the year 2020 as the air conditioner market in Egypt is both manufacturing and import-dependent and the movement restrictions imposed during the pandemic period disrupted the supply chain leading to falling market demand and hence the market revenues.
According to 6Wresearch, the Egypt Air Conditioner Market size is projected to grow at a CAGR of 5.7% during 2021-2027F. The primary reason for growth in the Egypt air conditioner industry can be attributed to the upcoming projects including the Middle East region’s largest private medical city and entertainment district. Moreover, the rising economic growth and per capita income of Egypt would play a crucial role in improving the living standards and in increasing the disposable income of the Egyptians, hence boosting the sales of home appliances including air conditioners in the country.
On the basis of types, room air conditioner acquired the majority of the revenue share in the air conditioner market of Egypt on the account of higher penetration of room air conditioners in the residential segments that generally deploy split air conditioners. On the basis of applications, the residential sector garnered the majority of the market revenue share during the year 2020 and is expected to dominate the market over the coming years as well on the back of the rapid expansion in residential infrastructure development across the country
According to Alpana Tyagi, Senior Research Analyst, 6Wresearch, “Split air conditioners led the Egypt room air conditioner market in recent years owing to their increasing adoption in the residential sector and small shops since the split air conditioners are energy efficient and the requirement of space for the split air conditioners is lower in comparison to its counterpart, that is window air conditioners.
In the coming years on the back of rising urban population and increasing demand for split air conditioners from residential and hospitality domains, the split air conditioners would be dominating the market of Egypt room air conditioner.” Alpana further added.
According to Anmol Dhanju, Research Associate, 6Wresearch, “The residential sector garnered the majority of the market revenue share during the year 2020 and the same trend is anticipated to persist over the coming years as a result of the rapid expansion in residential infrastructure development across the country.
With the increasing commercial buildings including hotels, hospitals, supermarkets and educational infrastructure, commercial offices & retail sector is projected to grow at a faster pace in the Egypt air conditioner market in near future.”, Anmol further added.
“Egypt Air Conditioner Market (2021-2027F)” report provides an in-depth analysis with 32 figures and 11 tables, covered in 101 pages. The report estimates and forecasts the Egypt air conditioner market by types, applications and 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.