Air Conditioner Remote Control Market Research Report, Size, Market Drivers and Key Players Strategies Analyzed Till 2028
May 22, 2019 by Steve Blade
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.
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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.
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.
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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.
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.
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