Hungary Air Conditioner Market (2024-2030) | Size, Trends, Industry, Forecast, Share, Growth, Value, Revenue, Analysis, Outlook & COVID-19 IMPACT
Market Forecast By Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others), And Competitive Landscape
| Product Code: ETC090078 | Publication Date: Apr 2024 | Updated Date: Apr 2024 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 15 | No. of Tables: 4 | |
Hungary Air Conditioner Market Synopsis
Hungary air conditioner market has registered significant growth owing to increasing residential dwelling with increasing air conditioner installations which witnessed an increase from 14% to 27% in 2020-2022. However, during the COVID-19 pandemic in 2020, the air conditioner market in Hungary experienced a shortfall downfall in demand due to lockdown restrictions, which led to a temporary halt in public movement for shopping and construction activities, and delayed project completions, resulting in 18% decrease in housing sales in 2022. Nevertheless, Central Hungary saw a strong rise in housing completions in the first half of 2021 which boosted the demand for air conditioners, due to which the market recovered. the booming hospitality sector with approximately 700 new hotel room completions in the first half of 2023 in Budapest, had further contributed to a growth trajectory.
According to 6Wresearch, Hungary Air Conditioner Market size is projected to grow at a CAGR of 7.4% during 2024-2030. Hungary air conditioner industry is poised for significant growth in the future, owing to anticipated office completion of approximately 140,200 square meters in 2024 and 64,400 square meters in 2025 and 200,000 square meters by 2026. Furthermore, the ongoing trend of urbanization, with the urban population expected to reach 75.4% by 2030 (up from 72.5% in 2022), would drive demand for air conditioners valued for their energy efficiency, ability to enhance indoor air quality, convenience, and comfort. Furthermore, by 2022, Hungary's urban population had reached 72.5%, with projections indicating a rise to 75.4% by 2030.
This shift towards urban living is expected to result in higher population density, leading to increased heat generation from various sources such as buildings and vehicles, which would further boost the demand for air conditioners in residential and commercial infrastructure.
Market Segmentation by Type
Room air conditioners have captured the largest share of revenues, driven by the growing installation of air conditioners in residential dwellings, which increased from 14% in 2020 to 27% by 2022. Their popularity in the residential sector is attributed to their high utility and ease of installation, as they do not require complex ductwork or centralized infrastructure.
Market Segmentation by Application
The commercial segment is expected to witness significant growth in the coming years driven by anticipated office completion of approximately 140,200 square meters in 2024 and 64,400 square meters in 2025 and 200,000 square meters by 2026.
Key Attractiveness of the Report
- 10 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Hungary Air Conditioner Market Overview
- Hungary Air Conditioner Market Outlook
- Hungary Air Conditioner Market Forecast
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues for the Period 2020-2030F
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues, By Types for the Period 2020-2030F
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues, By Applications for the Period 2020-2030F
- Market Drivers and Restraints
- Market Trends
- Industry Life Cycle
- Hungary Air Conditioner Market – Porter’s Five Forces
- Market Opportunity Assessment
- Company Shares
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Type
- Room Air Conditioner
- Ducted Air Conditioner
- Ductless Air Conditioner
- Centralized Air Conditioner
By Application
- Residential
- Healthcare
- Commercial & Retail
- Transportation and Infrastructure
- Hospitality
- Others (Education, BFSI, Industrial)
Frequently Asked Questions About the Market Study (FAQs):
Hungary Air Conditioner Market size is projected to grow at a CAGR of 7.4% during 2024-2030.
Hungary air conditioner market has registered significant growth owing to increasing residential dwellings with increasing air conditioner installations.
Segments that are covered in the market report are by type and application.
| 1. Executive Summary |
| 2. Introduction |
| 2.1 Report Description |
| 2.2 Key Highlights of the Report |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3. Hungary Air Conditioner Market Overview |
| 3.1 Hungary Air Conditioner Market Revenues and Volume (2020-2030F) |
| 3.2 Hungary Air Conditioner Market Industry Life Cycle |
| 3.3 Hungary Air Conditioner Market Porter's Five Forces |
| 4. Hungary Air Conditioner Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.3 Market Restraint |
| 5. Hungary Air Conditioner Market Trends |
| 6. Hungary Air Conditioner Market Overview, By Types, (2020-2030F) |
| 6.1 Hungary Air Conditioner Market Revenue Share & Revenues, By Types, (2020-2030F) |
| 6.1.1 Hungary Air Conditioner Market Revenues, By Room Air Conditioner, 2020-2030F |
| 6.1.2 Hungary Air Conditioner Market Revenues, By Ducted Air Conditioner, 2020-2030F |
| 6.1.3 Hungary Air Conditioner Market Revenues, By Ductless Air Conditioner, 2020-2030F |
| 6.1.4 Hungary Air Conditioner Market Revenues, By Centralized Air Conditioner, 2020-2030F |
| 6.2 Hungary Air Conditioner Market Volume Share & Volume, By Types, (2020-2030F) |
| 6.2.1 Hungary Air Conditioner Market Volume, By Room Air Conditioner, 2020-2030F |
| 6.2.2 Hungary Air Conditioner Market Volume, By Ducted Air Conditioner, 2020-2030F |
| 6.2.3 Hungary Air Conditioner Market Volume, By Ductless Air Conditioner, 2020-2030F |
| 6.2.4 Hungary Air Conditioner Market Volume, By Centralized Air Conditioner, 2020-2030F |
| 7. Hungary Air Conditioner Market Overview, By Application, (2020-2030F) |
| 7.1 Hungary Air Conditioner Market Revenue Share & Revenues, By Types, (2020-2030F) |
| 7.1.1 Hungary Air Conditioner Market Revenues, By Residential, 2020-2030F |
| 7.1.2 Hungary Air Conditioner Market Revenues, By Commercial and Retail , 2020-2030F |
| 7.1.3 Hungary Air Conditioner Market Revenues, By Healthcare, 2020-2030F |
| 7.1.4 Hungary Air Conditioner Market Revenues, By Hospitality, 2020-2030F |
| 7.1.3 Hungary Air Conditioner Market Revenues, By Trasnportation and Infrastructure, 2020-2030F |
| 7.1.4 Hungary Air Conditioner Market Revenues, By Others, 2020-2030F |
| 8. Hungary Air Conditioner Market Key Performance Indicators |
| 9.Hungary Air Conditioner Market Opportunity Assessment |
| 9.1 Hungary Air Conditioner Market Opportunity Assessment, By Types (2030F) |
| 9.2 Hungary Air Conditioner Market Opportunity Assessment, By Applications (2030F) |
| 10. Hungary Air Conditioner Market Competitive Landscape |
| 10.1 Hungary Air Conditioner Market Revenue Ranking, By Companies (2023) |
| 10.2 Hungary Air Conditioner Market Competitive Benchmarking, By Technical Parameters |
| 10.3 Hungary Air Conditioner Market Competitive Benchmarking, By Operating Parameters |
| 11. Company Profiles |
| 11.1 Daikin Industries, Ltd. |
| 11.2 Panasonic Connect Europe GmbH |
| 11.3 Johnson Controls-Hitachi Air Conditioning |
| 11.4 Mitsubishi Electric Corporation |
| 11.5 Whirlpool Corporation |
| 11.6 Gree Electric Appliances, Inc. |
| 11.7 Electrolux |
| 11.8 Cool Airconditional Kft |
| 11.9 LG Electronics |
| 11.10 Samsung Electronics Air Conditioner Europe |
| 11.11 Bosch Comfort Group |
| 11.12 Hi-Trade-Sense Magyarország Kft. |
| 11.13 Carrier Global Corporation |
| 12. Key Strategic Recommendation |
| 13. Disclaimer |
| List of Figures |
| 1. Hungary Air Conditioner Revenues and Volume, 2020-2030F ($ Million, Thousand Units) |
| 2. Hungary Average Summer Temperature, 2020 -2024E, (°C) |
| 3. Hungary Percentage of Urban Population, 2020-2030F, (%) |
| 4. Hungary Air Conditioner Market Revenue Share, By Types , 2023 & 2030F |
| 5. Hungary Air Conditioner Market Volume Share, By Types, 2023 & 2030F |
| 6. Hungary Air Conditioner Market Revenue Share, By Applications, 2023 & 2030F |
| 7. Hungary Share of Dwellings with AC in Hungary, 2018-2022, % |
| 8. Budapest Number of Under Construction and Planned Dwelling, Q1 2022 – Q3 2023 |
| 9. Countryside Number of Under Construction and Planned Dwelling, Q1 2022 – Q3 2023 |
| 10. Budapest Number Of Completed And Planned Hotel Rooms, 2022-2028E |
| 11. Hungary Number of Tourists Nights Spent at Tourists Accommodations Establishments, 2022-2023 (Thousand) |
| 12. Hungary Air Conditioner Market Opportunity Assessment, By Types (2030F) |
| 13. Hungary Air Conditioner Market Opportunity Assessment, By Applications (2030F) |
| 14. Hungary Air Conditioner Market Revenue Ranking, By Company, 2023 |
| 15. Budapest Expected Completion of Office Space, 2024E- 2026F, (Thousand Sq.m) |
| List of Tables |
| 1. Hungary Major Upcoming Construction Projects |
| 2. Hungary Air Conditioner Market Revenues, By Types, 2020-2030F ($ Million) |
| 3. Hungary Air Conditioner Market Volume, By Types , 2020-2030F (Thousand Units) |
| 4. Hungary Air Conditioner Market Revenues, By Applications, 2020-2030F ($ Million) |
Market Forecast By Type (Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, Centralized Air Conditioner), By Application (Residential, Healthcare, Commercial & Retail, Transportation & Infrastructure, Hospitality, Others), And Competitive Landscape
| Product Code: ETC090078 | Publication Date: Aug 2021 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
Hungary Air Conditioner (AC) Market | Country-Wise Share and Competition Analysis
In the year 2021, Czechia was the largest exporter in terms of value, followed by China, Hong Kong SAR. It has registered a decline of -1.08% over previous year. While China, Hong Kong SAR registered a growth of 4700.69% over previous year. While in 2017 China was the largest exporter followed by Czechia. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Hungary has Herfindahl index of 1466 in 2017 which signifies high competitiveness while in 2021 it registered a Herfindahl index of 1711 which signifies moderately concentrated in the market
Hungary Air Conditioner (AC) Market - Export Market Opportunities
Latest 2023 Developments of the Hungary Air Conditioner (AC) Market
The Hungary Air Conditioner (AC) Market is witnessing significant growth owing to the increasing demand for ACs from both residential as well as commercial sectors. One of the major developments of this market is the emergence of advanced air conditioners which can be controlled via a smartphone or other internet-connected devices. Consumers look for more energy-efficient as well as eco-friendly models in order to reduce their carbon footprint, and they also save money on electricity bills. Manufacturers are now focusing on developing air conditioner units with advanced features like inverters that can regulate temperature with low power consumption. Another trend which is observed in the industry is the rising popularity of portable air conditioners which do not need installation and can be moved easily, which supports the Hungary Air Conditioner (AC) Market Growth.
Topics Covered in the Hungary Air Conditioner Market Report
The Hungary Air Conditioner Market report thoroughly covers the market by type and application. The report provides an unbiased and detailed analysis of the ongoing market 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.
Hungary Air Conditioner (AC) Market is projected to grow over the coming years. Hungary Air Conditioner (AC) Market report is a part of our periodical regional publication Europe Air Conditioner (AC) Market Outlook report. 6W tracks the air conditioner market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Air Conditioner (AC) Market outlook report annually.
Hungary Air Conditioner Market Synopsis
The Hungary Air Conditioner Market is likely to accomplish great success over the forecast period attributed to favorable government policies, and growing construction activities as well as growth in demand for ACs from commercial and residential sectors.
According to 6Wresearch, Hungary Air Conditioner Market grew by 2.4% in 2017- 2020 and is expected to grow at a CAGR of 6.3% during 2021- 2027. Hungary occupies the 10th position in terms of the market size in the Europe Air Conditioner Market. The major market drivers are favorable government policies, and growing construction activities as well as growth in demand for ACs from commercial and residential sectors. Inverter air conditioners are becoming more popular as they are energy-efficient as compared to non-inverter air conditioners and they also have longer lifespans. In addition, these air conditioners have the potential to automatically adjust their speed in order to match the needed cooling capacity, and it helps to save on electric bills. Consumers look for more energy-efficient as well as eco-friendly models in order to reduce their carbon footprint, and they also save money on electricity bills. Manufacturers are now focusing on developing air conditioner units with advanced features like inverters that can regulate temperature with low power consumption. These factors play a crucial role in increasing the Hungary Air Conditioner Market Share.
COVID-19 Impact on Hungary Air Conditioner (AC) Industry
The COVID-19 outbreak had a significant impact on the market. With more people in the country staying at home on the back of the lockdowns as well as social distancing measures, there was a rise in demand for air conditioners units as people were spending more time indoors. The demand for air conditioners grew in the residential sector, but the case was different in the commercial sector. Companies were not allowed to operate during the coronavirus pandemic, which, in turn, declined the demand for ACs. Manufacturers of air conditioners had to face difficulties which led to a shortage of products. The pandemic had a mixed impact on the Air Conditioner Market in Hungary.
Hungary Air Conditioner (AC) Market: Major Players
The sector is highly fragmented with the presence of many small and medium-sized manufacturers and some of the major players in the industry are as follows:
- Bosch Home Appliances
- Daikin Industries
- LG Electronics
- Midea Group
- Panasonic Corporation
- Samsung Electronics
- Sharp Corporation
- Whirlpool Corporation
- Fujitsu General Ltd.
- Gree Electric Appliances Inc.
Market by Type
In terms of market by type, Room Air Conditioner dominates the market and is expected to remain in a dominant position in the coming years. However, Centralized Air Conditioner is expected to have the fastest growth rate among all types.
Market by Application
In terms of application, Commercial & Retail dominates the market and is expected to remain in a dominant position in the coming years with the fastest growth rate among all applications.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020.
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Hungary Air Conditioner Market Outlook
- Market Size of Hungary Air Conditioner Market, 2020
- Forecast of Hungary Air Conditioner Market, 2027
- Historical Data and Forecast of Hungary Air Conditioner Revenues & Volume for the Period 2017 - 2027
- Hungary Air Conditioner Market Trend Evolution
- Hungary Air Conditioner Market Drivers and Challenges
- Hungary Air Conditioner Price Trends
- Hungary Air Conditioner Porter's Five Forces
- Hungary Air Conditioner Industry Life Cycle
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Type for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Room Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Ducted Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Ductless Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Centralized Air Conditioner for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Application for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Residential for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Healthcare for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Commercial & Retail for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Transportation & Infrastructure for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Hospitality for the Period 2017 - 2027
- Historical Data and Forecast of Hungary Air Conditioner Market Revenues & Volume By Others for the Period 2017 - 2027
- Hungary Air Conditioner Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Application
- Hungary Air Conditioner Top Companies Market Share
- Hungary Air Conditioner Competitive Benchmarking By Technical and Operational Parameters
- Hungary Air Conditioner Company Profiles
- Hungary Air Conditioner Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Type
- Room Air Conditioner
- Ducted Air Conditioner
- Ductless Air Conditioner
- Centralized Air Conditioner
By Application
- Residential
- Healthcare
- Commercial & Retail
- Transportation & Infrastructure
- Hospitality
- Others
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- Single User License$ 1,995
- Department License$ 2,400
- Site License$ 3,120
- Global License$ 3,795
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