Global Hybrid Air Conditioner Market 2019-2023

  • Published: May 2019
  • Pages: 115
  • SKU: IRTNTR31337
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The global hybrid air conditioner market will grow at a CAGR of over 9% during 2018-2023, and the market size will increase by USD 5.09 billion during 2019-2023. The market’s growth momentum is expected to accelerate throughout the forecast period.

APAC was the largest market in 2018, and its position will remain the same during 2019-2023. Market growth in this region will be faster than the growth of the market in Europe and South America. Over 42% of the overall market growth will originate from the APAC region, and China will offer maximum growth opportunities to market participants.

Some of the key findings from this hybrid air conditioner market forecast report are summarized below

Hybrid Air Conditioner Market

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Hybrid solar air conditioner and solar air conditioner are the types of hybrid air conditioners currently available in the market. The hybrid solar air conditioner was the most popular hybrid air conditioner in 2018, and this segment’s position will remain unchanged throughout the forecast period. During 2019-2023, the growth rate of the hybrid solar air conditioner segment will be faster than the global market growth.

The market is fragmented, and the degree of fragmentation is expected to increase by 2023. The accelerating growth will provide immense growth opportunities to market participants. To make the most of the opportunities, hybrid air conditioner companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This market report provides a detailed analysis of the market by product (hybrid solar air conditioner and solar air conditioner) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Harvest Eco Solutions Ltd., HotSpot Energy Inc., Lennox International Inc., Solair World International Pte Ltd., and Videocon Industries Ltd.

Global hybrid air conditioner market: Key drivers and trends

The growing demand for advanced and innovative household appliances has encouraged market vendors to offer smart hybrid air conditioners, which are user-friendly and aesthetically appealing. Smart hybrid air conditioners are equipped with various features such as adjustable backlight and controls and alert systems. These type of air conditioners are also energy star certified, provide enhanced safety, and have hassle-free maintenance. Moreover, smart hybrid air conditioners can be controlled remotely through applications in smartphones, thereby enabling money and electricity savings. These advantages of smart hybrid air conditioners will boost its adoption and consequently fuel the growth of the hybrid air conditioners market.

Conventional air conditioners use non-renewable sources of energy, whereas hybrid air conditioners use renewable sources such as solar energy for air cooling. Hybrid air conditioners are highly efficient and have extremely low power consumption as compared to conventional air conditioners. As hybrid air conditioners consume less energy, its installation does not require special permission and also reduces electricity charges for the user. Tax exemptions provided by some countries such as India for promoting the use of hybrid air conditioners will further boost its adoption among end-users. Such factors will fuel hybrid air conditioner market growth at a CAGR of over 9% during the forecast period. 

Hybrid air conditioner market: Competitive landscape and companies covered

The global hybrid air conditioner market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this hybrid air conditioner market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

The report offers a detailed analysis of several leading hybrid air conditioner manufacturers, including:

  • Harvest Eco Solutions Ltd.
  • HotSpot Energy Inc.
  • Lennox International Inc.
  • Solair World International Pte Ltd.
  • Videocon Industries Ltd.

Hybrid air conditioner market: Segmentation based on product

  • Hybrid solar air conditioner
  • Solar air conditioner

The hybrid solar air conditioner market segment will account for the largest hybrid air conditioner market share. The growing demand for dual technology (solar and electricity) air conditioners will fuel hybrid air conditioner market growth in this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid air conditioner market size.

Hybrid air conditioner market: Segmentation based on geographic region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

With a complete study of the growth opportunities for the companies, it has been identified that APAC will account for the largest hybrid air conditioner market share throughout the forecast period. Growing urbanization, infrastructure development, and government support and incentives in developing countries towards the installation of solar panels are some of the factors driving the growth of the hybrid air conditioner market in this region.

Hybrid air conditioner market: Key highlights of the report for the forecast period 2019-2023

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the hybrid air conditioner market during the next five years
  • Precise estimation of the global hybrid air conditioner market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hybrid air conditioner industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of hybrid air conditioner companies 

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product
  • Comparison by product
  • Hybrid solar air conditioner - Market size and forecast 2018-2023
  • Solar air conditioner - Market size and forecast 2018-2023
  • Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2018-2023
  • North America - Market size and forecast 2018-2023
  • Europe - Market size and forecast 2018-2023
  • MEA - Market size and forecast 2018-2023
  • South America - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Increased adoption of omnichannel distribution and multi-channel marketing
  • Introduction of user-friendly, convenient, and multifunctional products
  • Introduction of smart hybrid air conditioners
  • Other trends

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Harvest Eco Solutions Ltd.
  • HotSpot Energy Inc.
  • Lennox International Inc.
  • Solair World International Pte Ltd.
  • Videocon Industries Ltd.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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