Latin America Air Conditioner Market is expected to grow with a substantial CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The air conditioner is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to the growing demand of AC’s in the commercial building constructions in Latin America. The manufacturing of different air conditioners in Mexico to the international worldwide countries is mainly for the residential purposes since the country is immensely populated and the residential houses is much more as compared to the commercial.
The market has witnessed developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, In March 2019, LG Electronics has launched new range of dualcool inverter air conditioners. The launched ACs has a cooling score of 5. They work on various tonnage technologies and the user can adjust the cooling by controlling the speed of compressor. The launch will help the company to gain a name in the market.
Samsung dominated the Latin America air conditioner market. The other key players existing in the market includes Lennox International, DAIKIN INDUSTRIES, Ltd., MODINE MANUFACTURING COMPANY, DAEWOO ELECTRONICS CO. LTD., United Technologies, Ventisol, GREE ELECTRIC APPLIANCES, INC., Hisense and others.
Samsung headquartered in Seoul, South Korea was founded in 1969. The company focuses on providing the products, solutions and services for the consumer electronics, information technology and mobile communications, and device solutions businesses worldwide. The company operates through five business segments which include IM, Semiconductor, CE, DP and Harman and the market focused segment is CE.
It has its global networks in Asia-Pacific, Europe, North America, South America and Middle East and Africa. It operates through its subsidiaries such as Samsung Electronics America (USA), Samsung Electronics Argentina (Argentina), Samsung Electronics Italia (Italy), Samsung Electronics GmbH (Germany), and others.
Robert Bosch GMBH:
Robert Bosch GMBH headquartered in Baden-Württemberg, Germany was founded in 1896. The company is engaged in providing services in automation, connectivity, electrification and energy efficiency. The company has five operating divisions namely, Mobility Solutions, Industrial Technology, Consumer Goods, Energy and Building Technology, other segments and the market focused segment is consumer goods.
It has its global networks in North Americas, Africa, Europe, Asia, Australia, Middle East, South and Central Americas, Oceania. The company has various subsidiaries such as Bosch Healthcare Solutions GmbH (Germany), Robert Bosch Venture Capital GmbH (Germany), BSH Hausgeräte GmbH (Germany), Bosch Energy Storage Solutions LLC (United States), Bosch Software Innovations GmbH (Germany), among others.
LG Electronics is headquartered in Seoul, South Korea founded in 1958. The company is engaged in producing and selling home appliances, home entertainment and mobile communications products. It operates through six major strategic business units which include home appliance & air solution, home entertainments, mobile communication, vehicle components, business-to-business, innotek and other segments and the market focused segment is home appliance & air solution.
The company has wide geographical presence in Asia & Pacific, CIS, Europe, Middle East & Africa, North America, Central America & Caribbean and South America. It operates through its subsidiaries such as LG Electronics Mobilecomm U.S.A., Inc. (U.S.), LG Electronics U.S.A. (U.S.), LG Electronics Canada, Inc. (Canada), LG Electronics (M) Sdn. Bhd. (Malaysia), LG-Hitachi Water Solutions Co., Ltd. (South Korea), and others.
Latin America Air Conditioner Market – Industry Trends and Forecast to 2026