Dublin, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The "Angola Air Conditioner (AC) Market Outlook (2021-2027): Market Forecast By Type (Room, Ducted, Ductless, Centralized), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others) And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Angola Air Conditioner (AC) Market is projected to grow at a CAGR of 5.2% during 2021-2027.
Angola Air Conditioner Market report comprehensively covers the market by types, technology, components and application. Angola air conditioner market outlook report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Angola Air Conditioner Market Synopsis
Angola air conditioner market witnessed a moderate growth during the period 2017-2020 owing to rapid urbanization and increase in construction activities in the country. The Angolan government has placed a strong emphasis on infrastructure and construction as a key driver for urban growth and Angola's major infrastructure projects which are underway and expected to shape a new future for the country.
However, the COVID-19 pandemic brought a decline in market revenues during the year 2020 as the Angola air conditioner market is both manufacturing and import dependent and the movement restrictions imposed during the pandemic period disrupted the supply chain leading to fall in market demand and hence the Angola air conditioner market revenues.
The major reason for growth in the Angola air conditioner market size can be attributed to the upcoming residential projects. The National Development Plan (NDP) for 2018-2022 aims to promote infrastructure development, public sector reform and new laws for private sector establishment.
Moreover, the rising per capita income of Angola would play a crucial role in improving the living standards and in increasing the disposable income of the Angolans, hence boosting the sales of home appliances including air conditioners in the country.
Market by Types Analysis
By types, room air conditioner acquired more than 60% of the market share in terms of revenue. They are projected to show significant growth during the forecast period owing to higher penetration of room air conditioners in the residential as well as commercial segment.
Moreover, room air conditioners are expected to maintain their dominance in the coming years on the back of rising demand from residential sector which would be further enhanced as a result of several residential projects in the development pipeline. With higher penetration of room air conditioners in the residential segments the Angola air conditioner market revenues is expected to increase during forecast period.
Market by Application Analysis
Residential sector dominates the Angola air conditioner market revenue share in air conditioner market in 2020 and same trend is expected to continue in the forecasted years on account of increasing urbanization along with construction of new apartments and societies in tier 1 and tier 2 cities. With rapid expansion and increasing investment in residential and commercial infrastructure along with rising population the demand for air conditioners would increase in coming years.
Samsung Electronics Co., Ltd.
LG Electronics Inc.
Daikin Industries, Ltd.
Midea Group Co. Ltd.
Key Highlights of the Report
Angola air conditioner Market Overview
Angola air conditioner Market Outlook
Angola air conditioner Market Forecast
Historical Data and Forecast of Angola air conditioner Market Revenues and Volume for the Period 2017-2027F
Historical Data and Forecast of Angola air conditioner Market Revenues and Volume, By Types, for the Period 2017-2027F
Historical Data and Forecast of Angola air conditioner Market Revenues, By Applications, for the Period 2017-2027F
Market Drivers and Restraints
Industry Life Cycle
Porter's Five Force Analysis
Impact Analysis Of COVID-19
Angola Air Conditioner Market Trends
Angola air conditioner Market Share, By Companies
Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
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