Air conditioning growth receded in 2015
A new study suggests an air conditioning decline in 2015 despite a forecasted global growth
The Building Services Research and Information Association (BSRIA) has published a report which reveals that the global air conditioning market receded by 5% in 2015, despite experts forecasting a global air conditioning boom.
The ‘World Air Conditioning Study’, published in March this year, shows that the air conditioning market suffered a disappointing setback in 2015. Especially when considered against the 7% growth that was recorded in 2014, which was due mostly to a rise in demand in Asia Pacific countries, including China, Indonesia and South Korea.
However, according to the study, a fall in demand in Asia Pacific (including the nations mentioned above and Japan) was also the major factor which led to the 5% market decline in 2015.
China’s struggling economy contributed to a drop in air con demand. The packaged air conditioning (PAC) market here fell by 7%, despite witnessing a growth for the mini-VRF (20kW) due to a strong residential demand, according to the BSRIA report
In North and South America there was an overall recession in the air conditioning market by 2%. The market in Brazil dropped a staggering 18% in 2015; a major downturn considering the 28% growth recorded there in 2014. However, the South American country has been suffering from major economical and social issues in 2015.
On the other end of the spectrum, Australia, Vietnam and Philippines all recorded a growth in the air con market last year. This has been attributed to a strong residential sector in Australia; a flourishing commercial and business sector in Philippines; and Vietnam’s ability to attract foreign investment.
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