Overview of the global inverter technology air conditioner market
Technavio’s market research analyst predicts the global inverter technology air conditioner market to grow at a CAGR of close to 13% between 2016 and 2020. With increasing awareness of the energy-efficiency properties of inverter technology air conditioners, these appliances have the potential to replace popularly used conventional air conditioners. Inverter technology air conditioner compressors can run at various speeds depending on the load required by the air conditioner. Moreover, these advanced technology-equipped air conditioners offer optimal and precise temperature control and better energy conversion efficiency through its electronic variable speed drive motors. Factors such as low noise, energy efficiency, and superior performance of inverter technology air conditioners will positively aid in increasing the sales of these appliances in the coming years.
The high cost of inverter technology air conditioners has propelled several manufacturers to come up with value-added features such as four-way swing option, virus filters, and stylish design elements to increase their sales. They are distinguishing their products by integrating smart connect features, and smart diagnosis enabled through NFC and Wi-Fi connectivity. For instance, Samsung has introduced its new range of smart air conditioners, which provide high energy savings and cooling experience. The product is equipped with the world's first new 8-pole motor in its digital inverter compressor. Vendors are also announcing characteristics like anti-dust and anti-bacterial filters, multi-seasonal options, auto clean mode, multi-flow condenser, sleep mode, and energy-saver modes in their products.
Competitive landscape and key vendors
The global inverter technology air conditioner market is extremely concentrated among a few major players in the APAC region. Fierce competition prevails in the market, which, turn, has prompted vendors to constantly revise their existing energy standards and focus on product innovations. The competition is expected to intensify further during the forecast period with the entry of many new players, mergers and acquisitions, and price wars among existing vendors.
Leading vendors in the market are -
Other prominent vendors in the inverter technology air conditioner market include Blue Star, Electrolux, Godrej Group, GREE ELECTRIC APPLIANCES, Hisense Group, Midea Group, Robert Bosch, Sharp, Voltas (TATA), and Whirlpool.
Segmentation by retail format and analysis of the inverter technology air conditioner market
Mass retailers, hypermarkets, and supermarkets
Specialty retail stores occupied the largest share in the market and will continue to be the preferred destination for purchasing inverter technology air conditioners. Factors such as broad brand coverage and the availability of a wide range of products at affordable prices have spurred revenue generation in the market through this retail format. However, the online segment is the fastest-growing retail format for inverter technology air conditioners in the coming years due to the convenience and varieties it offers at discounted rates.
Geographical segmentation and analysis of the inverter technology air conditioner market
APAC is the largest market for inverter technology air conditioners and accounted for the largest market share during 2015. The major leading countries for inverter technology air conditioners in APAC include Japan, China, India, South Korea, Russia, and Australia. Japan is the largest market for inverter technology air conditioners due to the presence of local players like Toshiba Carrier, Panasonic, Hitachi, and Mitsubishi Electric. With the growing consumer preference towards energy-efficient appliances, the market for inverter technology air conditioners in APAC will grow considerably in the coming years.
Key questions answered in the report include
What will the inverter technology air conditioner market size and growth rate be in 2020?
What are the key factors driving the global inverter technology air conditioner market?
What are the key market trends impacting the growth of the global inverter technology air conditioner market?
What are the challenges to market growth?
Who are the key vendors in the global inverter technology air conditioner market?
What are the market opportunities and threats faced by the vendors in the global inverter technology air conditioner market?
Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global inverter technology air conditioner market?
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