Hungary Air Conditioner Market size is projected to grow at a CAGR of 7.4% during 2024-2030

Residential sector on the basis of application attained the largest revenue share in the Hungary Air Conditioner Market – 6Wresearch

The air conditioner market was dominated by the residential sector, propelled by urbanization trends that favour apartment living. The anticipated completion of 25,000 new apartments in 2022 underscores the heightened demand for air conditioners in these emerging living spaces.

According to 6Wresearch, Hungary Air Conditioner Market size is projected to grow at a CAGR of 7.4% during 2024-2030. Hungary air conditioner market experienced growth, propelled by a rise in air conditioner installations in residential properties, which surged from 14% in 2020 to 27% by 2022. The market is projected to continue expanding in the coming years, supported by anticipated office space completions and the ongoing trend of urbanization. The Hungarian government's commitment to infrastructure development, including large-scale construction projects, such as the planned $6.5 billion Dubai-style Budapest district and the expansion of Budapest Airport with a hotel and additional international airports would contribute to the anticipated surge in demand for air conditioning systems.

The combination of rising electricity prices, strict environmental regulations, and Hungary's moderate climate hinders the demand for air conditioners, prompting consumers to seek alternative cooling solutions, particularly due to cost concerns related to eco-friendly models. These factors collectively serve as a restraint to the air conditioner market in the country.

According to Vasudha, Senior Research Analyst, 6Wresearch, room air conditioners dominate the volume share in the Hungarian AC market due to their widespread usage in residential, which accounts for a significant portion of AC installation in the country. Additionally, Room AC units are relatively more affordable compared to other air conditioning systems, making them accessible to a wider range of consumers.

The Hungary Air Conditioner Market (2024-2030) report provides an in-depth analysis with 15 figures and 4 tables, covering 70 pages. The report comprehensively covers the market by type and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.