Air Conditioner Remote Control Market: Overview
Over the last two decades, the technology in the electronic industry has made an impressive progress and consumer preferences toward energy efficient electronic products have undergone a considerable shift. These days’ consumers demand built-in consumer electronics and home appliances to save floor space. Besides, the air conditioner market has witnessed significant growth in the last couple of years. This growth of the air conditioner market is expected to positively impact the growth of the global air conditioner remote control market in the forthcoming years. Moreover, the construction industry is growing worldwide along with the growing demand for energy-efficient air conditioners, which in turn has increased the need of air conditioner remote controls. In addition to this, rapid urbanization in developing countries is likely to propel the construction activities, specifically in India, China, Brazil, Russia, Mexico and gulf countries, contributing to the growth of the global air conditioner remote control market.
An air conditioner remote control is a small hand-held electronic device for controlling any type of air conditioners, such as widow air conditioners, and slit air conditioners, among others. The air conditioner remote control performs various functions such as switching it On/Off, temperature change, mode change (dry/cool/fan), swing, and timer. Presently, most of the OEMs of air conditioner remote control are offering radio frequency-based remote controls for multidirectional and one directional use.
Air Conditioner Remote Control Market: Drivers and Challenges
The major growth drivers of the global air conditioner remote control market include the penetration of air conditioners in countries where temperature goes high in summer. In addition, the growing construction activities in developing economies coupled with rising population and per capita income are also expected to be the strong factors for the growth of the market over the forecast period. Moreover, the proliferation of new air conditioner systems in commercial and industrial premises is increasing the demand for the air conditioner remote controls across the world.
In the present scenario, fluctuating requirements in the electrical and utility industries is the challenging factor in the market growth. Furthermore, competition from local players in developing countries is disrupting the growth of the air conditioner remote control market.
Air Conditioner Remote Control Market: Segmentation
Segmentation of the air conditioner remote control market on the basis of use in air conditioner type:
- In Slit Air Conditioner
- In Window Air Conditioner
- In Centralized Air Conditioner
- In Packaged Air Conditioner
In 2017, the largest market share was accumulated by the in split air conditioner segment and it is expected to grow with a high CAGR during the forecast period. The high growth of this segment is attributed by the increasing proliferation of slit air conditioners in new real estate spaces, both residential and commercial.
Segmentation of the air conditioner remote control market on the basis of end users:
The residential segment accounted for major market share of the global air conditioner remote control market in 2017. The growth of residential segment is attributed to the adoption of air conditioners in developing countries such as India, China, Brazil, and Russia. Moreover, the commercial segment is projected to register a CAGR of more than 6.5% during the forecast period.
Segmentation of the air conditioner remote control market on the basis of sales channel:
- Organized Retail Stores
- Unorganized Retail Stores
Due to double digit growth of the e-commerce market in developed and developing economies, the e-commerce/online segment is projected to grow with a high CAGR during the forecast period.
Air Conditioner Remote Control Market: Competition Landscape
Examples of some of the major players in the global air conditioner remote control market are Samsung Electronics Co. Ltd., Hitachi, Voltas, Onida, LipiWorld, LG Electronics, Sansui, SKYTECH, LLOYD, Philips, etc.
Air Conditioner Remote Control Market: Regional Overview
Asia Pacific is expected to capture a large market share in terms of value and volume, owing to the increasing construction activities and growing per capita income in India and China. North America is expected to exhibit high growth rate in terms of value and volume in the global air conditioner remote control market due to urbanization and technological advancements in the electronic industry, and increasing adaptation in the residential and commercial sites. Europe and Latin America are also expected have potential growth opportunities in the global air conditioner remote control market due to the increasing demand from the construction industry. Moreover, the air conditioner remote control market in the MEA region is expected to grow at a considerably fast rate during the forecast period owning to increasing urbanization in the region.
The report covers exhaustive analysis on:
- Air Conditioner Remote Control market Segments
- Market Dynamics of Air Conditioner Remote Control market
- Historical Actual Market Size, 2013 - 2017
- Market Size & Forecast 2018 to 2028
- Value Chain of Air Conditioner Remote Control market
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis for the air conditioner remote control market includes development of these air conditioner remote control in the following regions:
- North America Air Conditioner Remote Control Market
- Latin America Air Conditioner Remote Control Market
- Rest of Latin America
- Europe Air Conditioner Remote Control Market
- EU – 4 (Germany, France, Italy, Spain)
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep. etc.)
- Rest of Europe
- CIS & Russia Air Conditioner Remote Control Market
- Japan Air Conditioner Remote Control Market
- APEJ Air Conditioner Remote Control Market
- Greater China
- ASEAN Countries
- Rest of APEJ
- Middle East and Africa Air Conditioner Remote Control Market
- GCC Countries
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation of Air Conditioner Remote Control market
- Recent industry trends and developments in Air Conditioner Remote Control market
- Competitive landscape of Air Conditioner Remote Control market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
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