South-East Asia region has become one of the most attractive investment destinations globally. The region has witnessed a surge in FDIs, which has resulted in the rise of various infrastructures. Amongst all South-East Asian countries, Indonesia is emerging as one of the key countries, which has registered growth across all industry verticals in the last few years. With growth of infrastructures in Indonesia, demand for air conditioners has increased, especially in commercial and residential applications.
According to 6Wresearch, Indonesia Air Conditioner Market is projected to grow at a CAGR of 10.6% during 2016-22. Although the market registered momentum in the last five years, in 2015, the Indonesia air conditioner market declined to owe to weak economic conditions. However, growth would be exhibited on the back of government initiatives to diversify its economy towards manufacturing and service sector and rising investments. Projects such as the new Priok port, 1 million housing project per year, Signature Tower, and Pertamina Tower would spur the air conditioner market in the years to come.
According to Avishrant Mani, Senior Research Analyst, Research and Consulting, 6Wresearch, "rise in construction activities especially in the areas of public transportation, retail, hospitality, and commercial offices are fueling the demand for air conditioners in the country. In addition, on account of rising commercial infrastructure, the market for chiller/VRF is also expected to increase.
In Indonesia's air conditioner market, split, ceiling concealed, and centralized air conditioners have captured a key share of the market pie. Over the next six years, growth would be primarily recorded from the split, centralized, and rooftop packaged type air conditioners," Avishrant further added.
According to Sathi Paul, Research Associate, Research and Consulting, 6Wresearch, "Furthermore, the growing middle-class population along with rising urbanization and hastening disposable income are anticipated to boost the market growth predominantly in residential and SME segments.
Amongst all regions, Java is the key region generating the highest revenue share in the air conditioner market. However, other regions are also expanding owing to increasing government spending and surging public and private infrastructures," Sathi concluded.
Some of the key players in Indonesia's air conditioner market are namely- Carrier, Panasonic, Daikin, Johnson Controls (York), LG, Hitachi, Samsung, and Trane.
"Indonesia Air Conditioner Market (2016-2022)" provides in-depth analysis with 38 figures and 9 tables covered in more than 114 pages. The report estimates and forecast the overall Indonesia air conditioner market by revenue, type segment- Room AC (Split AC), Ductless (Cassette AC, Floor Standing AC, and Ceiling Suspended), Ducted (Roof Top Packaged AC and Ceiling Concealed) and Centralized air conditioner. Verticals such as residential, commercial office, retail, government & transportation, hospitality, and others. The study highlights the key potential areas and provides insights into the competitive landscape, company profiles, market drivers, and restraints.
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Media Courtesy : Open PR