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Global Hybrid Air Conditioner Market 2019-2023

Global Hybrid Air Conditioner Market 2019-2023

About this market

The growing residential construction activity is one of the critical factors that will trigger the growth of hybrid air conditioner market. The increase in the housing market is mainly propelled by the adoption of modem residential dwellings, improved economic conditions, and increased consumer spending power. At present, household appliances such as hybrid air conditioners are becoming popular in new residential establishments. The growth in the construction market will also drive the demand for hybrid air conditioners across the globe. Also, investments in the residential construction industry are increasing due to the need for single-family units. Thus, the growth of the residential construction industry and increase in disposable income are expected to drive the demand for household appliances in these establishments, including hybrid air conditioners during the forecast period. Technavio’s analysts have predicted that the hybrid air conditioner market will register a CAGR of over 9% by 2023.

Market Overview

Product innovation leading to portfolio extension and product premiumization

The competition in the global hybrid air conditioner market has been growing over the years. Also, the preference for innovative and technologically advanced household appliances (including hybrid air conditioners) among consumers is also increasing rapidly. This has compelled the vendors operating in the global hybrid air conditioner market to continually engage in R&D and innovation to sustain in the competitive market environment. Products are innovated in terms of technology, performance, features, and designs. Also, customers also prefer appliances that are efficient and consume minimal energy resources. To meet such evolving customer needs, vendors are continuously widening their product portfolio. Therefore, with the growing purchasing power and rising disposable income, customers are gradually increasing their spending on household appliances, including the hybrid air conditioner. This has propelled the demand for premium hybrid air conditioners, thereby driving the market.

Long product lifecycle

Hybrid air conditioners available in the market are mainly branded and have reliable quality. These products are made of stainless steel or hard and durable materials and are characterized by longer replacement cycles than those of old air conditioners that are made of less durable materials. Air conditioners are in constant contact with water and have associated risks of rusting; hence, are made of stainless steel or high-grade plastic materials that make these appliances lightweight and durable. Vendors engage in in-depth R&D of innovative and sustainable materials to extend the operational life of hybrid air conditioners. The average lifespan of hybrid air conditioners is almost 10-15 years, and this lifespan reduces the frequency of product replacements, thereby adversely affecting the growth of the market.



For the detailed list of factors that will drive and challenge the growth of the hybrid air conditioner market during 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies, including Harvest Eco Solutions Ltd. and HotSpot Energy Inc. makes the competitive environment quite intense. Factors such as the growing residential construction activity and the high efficiency compared with conventional air conditioners will provide considerable growth opportunities to the hybrid air conditioner manufacturers. Lennox International Inc., Solair World International Pte Ltd., and Videocon Industries Ltd. are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Hybrid Air Conditioner Market 2019-2023

Technavio recognizes the following companies as the key players in the global hybrid air conditioner market: Harvest Eco Solutions Ltd., HotSpot Energy Inc., Lennox International Inc., Solair World International Pte Ltd., and Videocon Industries Ltd.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the introduction of user-friendly, convenient, and multifunctional products.”

According to the report, one of the major drivers in this market is the high efficiency compared with conventional air conditioners.

Further, the report states that one of the major factors hindering the growth of this market is the volatility in operational costs and raw material prices.

Companies Mentioned

Harvest Eco Solutions Ltd.

HotSpot Energy Inc.

Lennox International Inc.

Solair World International Pte Ltd.

Videocon Industries Ltd.

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global household durables market
      • Table Segments of global household durables market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Household and NPISHs final consumption expenditure per capita 2012-2017 (constant 2010 $)
      • Table Household disposable income per capita 2011-2016 ($)
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • Hybrid solar air conditioner - Market size and forecast 2018- 2023
      • Table Hybrid solar air conditioner - Market size and forecast 2018-2023 ($ millions)
      • Table Hybrid solar air conditioner - Year-over-year growth 2019-2023 (%)
    • Solar air conditioner - Market size and forecast 2018-2023
      • Table Solar air conditioner - Market size and forecast 2018-2023 ($ millions)
      • Table Solar air conditioner - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table Urban population (% of total) China, Japan, Australia, and India 2012-2017
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table New privately owned housing units started in the US by purpose and design 2015-2017 (units in thousand)
    • Market challenges
      • Table Raw materials - Use and price in the US (2016)
      • Table Raw material prices in the US 2011-2016 ($)
      • Table Impact of drivers and challenges
  • Market trends
    • Increased adoption of omnichannel distribution and multichannel marketing
      • Table Global Internet users 2012-2017 (% of population, as of April 24, 2019)
    • Introduction of user-friendly, convenient, and multifunctional products
    • Introduction of smart hybrid air conditioners
    • Other trends
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Harvest Eco Solutions Ltd.
      • Table Harvest Eco Solutions Ltd. - Vendor overview
      • Table Harvest Eco Solutions Ltd. - Product segments
      • Table Harvest Eco Solutions Ltd. - Organizational developments
      • Table Harvest Eco Solutions Ltd. - Key offerings
    • HotSpot Energy Inc.
      • Table HotSpot Energy Inc. - Vendor overview
      • Table HotSpot Energy Inc. - Product segments
      • Table HotSpot Energy Inc. - Key offerings
    • Lennox International Inc.
      • Table Lennox International Inc. - Vendor overview
      • Table Lennox International Inc. - Business segments
      • Table Lennox International Inc. - Organizational developments
      • Table Lennox International Inc. - Geographic focus
      • Table Lennox International Inc. - Segment focus
      • Table Lennox International Inc. - Key offerings
    • Solair World International Pte Ltd.
      • Table Solair World International Pte Ltd. - Vendor overview
      • Table Solair World International Pte Ltd. - Product segments
      • Table Solair World International Pte Ltd. - Key offerings
    • Videocon Industries Ltd.
      • Table Videocon Industries Ltd. - Vendor overview
      • Table Videocon Industries Ltd. - Business segments
      • Table Videocon Industries Ltd. - Segment focus
      • Table Videocon Industries Ltd. - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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