Posted On: 2020-11-10
Centralized air conditioner acquired the largest revenue share among all air conditioner types in the overall Bangladesh air conditioner market – 6Wresearch
Rising urbanization and an increase in per capita income of people are the key factors driving the demand for air conditioners in Bangladesh. The increasing environmental concerns and use of energy-efficient technology have led to the star labeling and standardization of the air conditioners, which is another factor driving the growth of the air conditioner market in the country.
According to 6Wresearch, the Bangladesh Air Conditioner Market revenue size is projected to grow at a CAGR of 15.9% during 2020-2026. Bangladesh air conditioner market is in the growing stage of its industry life cycle. The demand for the air conditioner is kept afloat in the country due to the booming infrastructure sector and increasing investment of government in various sectors. The growing hospitality and residential sectors are anticipated to propel the demand for air conditioners during the forecast period owing to increasing cooling requirements in new infrastructure projects. However, due to COVID-19, a nationwide lockdown was imposed, which has interrupted the production and hindered demand for air conditioners. Also, a downfall in the hospitality sector along with low construction activities of hotels, restaurants, and guest houses has led to a decline in the demand for air conditioners in the country. Although, the air conditioner market is projected to grow at a healthy rate in the coming period as the economy resumes normalcy.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “Among all types, centralized air conditioner captured the largest market revenue share and is expected to maintain its position during the forecast period due to their high prices as compared to other air conditioner types and its widespread usage in the commercial and industrial domain.”
“Ducted and room air conditioners are also expected to register considerable growth over the coming years owing to increasing public and private investments to develop residential and commercial infrastructure in the country.”, Akshay further added.
According to Eshita Goel, Research Associate, Research and Consulting, 6Wresearch, “Based on applications, commercial and retail application is the leading contributor to the overall air conditioner market in Bangladesh and is expected to register healthy growth over the coming years on the back of upcoming mega commercial projects such as Banani DCC-Unique Complex and Pinnacle Tower.”
Some of the major companies in the Bangladesh air conditioner market include Fujitsu General Ltd., Gree Electric Appliances Inc., Samsung Electronics, HP Inc., Rangs Electronics Industries Ltd., Jamuna Group, and Hitachi.
“Bangladesh Air Conditioner Market (2020-2026)” report provides an in-depth analysis with 21 figures and 14 tables, covered in more than 80 pages. The report estimates and forecasts the overall Bangladesh 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.