About Inverter Technology Air Conditioner
Conventional air conditioner compressors can run at only one speed. Therefore, these compressors turn on and off at intervals to maintain the temperature inside an air conditioner. This results in high energy consumption. However, inverter technology air conditioner compressors can run at different speeds depending on the load required by the air conditioner. In inverter technology air conditioners, variable motor electronic speed drives modulate the power supplied to the motor as per load or set temperature (judged through additional circuitry), which further modulates the compressor's function. The flexible modulation thus achieved varies the speed of the compressor to provide the temperature that is required.
Technavio’s analysts forecast the global inverter technology air conditioner market to grow at a CAGR of 12.76% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global inverter technology air conditioner market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of residential inverter technology air conditioners through different retail channels.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Inverter Technology Air Conditioner Market 2016-2020
Technavio recognizes the following companies as the key players in the global inverter technology air conditioner market: Daikin Industries, Haier, Johnson Controls, LG Electronics, Mitsubishi Electric, Panasonic, Samsung, Toshiba Carrier, and United Technologies.
Other prominent vendors in the market are: Blue Star, Electrolux, Godrej Group, GREE ELECTRIC APPLIANCES, Hisense Group, Midea Group, Robert Bosch, Sharp, Voltas (TATA), and Whirlpool.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is inclusion of value-added features to justify the high cost of inverter technology air conditioners. In recent times, manufacturers are focusing on providing value-added features such as four-way swing option, virus filters, and stylish design elements with inverter technology air conditioners in order to justify the higher price of these products. The benefits of inverter technology are also being promoted as features. Manufacturers are also differentiating their products with the inclusion of smart connect features and smart diagnosis enabled through NFC and Wi-Fi connectivity. For instance, Samsung introduced its new range of smart air conditioners, which offer high energy savings and cooling experience. The product is equipped with the world's first new 8-pole motor in its digital inverter compressor.”
According to the report, one of the primary drivers in the market is manufacturer and retailer perspective: Innovative inverter technology creating opportunity for new and upgrade purchases. New and replacement purchases upon the damage of previously owned air conditioners are high. However, to increase the upgrade sales of durable consumer goods like air conditioners, which have more than 8-10 years of average life, technological innovation in product offerings becomes extremely essential.
Further, the report states that one major challenge in the market is lack of standardization for interface and core frequency control algorithm. The adoption of inverter technology for the manufacture of household air conditioners has been low due to insufficient development and integration of components, poor reliability, high capital cost, and failure of demonstration installations that can produce the expected energy savings. Lack of standardization in core frequency control algorithm and lack of interface standardization of control are leading to poor compressor compatibility between different manufacturers. Also, components from different manufacturers cannot replace each other, and this has caused great difficulties for machine manufacturers. Low mass production and heavy reliance on a few brands also lead to the high price of products.
Daikin Industries, Haier, Johnson Controls, LG Electronics, Mitsubishi Electric, Panasonic, Samsung, Toshiba Carrier, United Technologies, Blue Star, Electrolux, Godrej Group, GREE ELECTRIC APPLIANCES, Hisense Group, Midea Group, Robert Bosch, Sharp, Voltas (TATA), Whirlpool.