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Egypt Air Conditioner Market

Egypt Air Conditioner Market

Egypt Air Conditioner Market, By Product Type (Splits, Windows, VRF, Chillers, Others (Cassette, Ductable Splits)); By End User (Residential, Commercial, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: September 2023
  • Report ID: BWC23782
  • Available Format: PDF
  • Page: 200

Report Overview

Increasing disposable income and growing urbanization are expected to boost the growth of the Egypt air conditioner market during the forecast period between 2023 and 2029.

Egypt Air Conditioner Market - Industry Trends & Forecast Report, 2029

Egypt air conditioner market size was estimated to be worth USD 1.06 billion in 2022. During the forecast period between 2023 and 2029, the Egypt air conditioner market size is projected to grow at a CAGR of 6.78%, reaching a value of USD 1.58 billion by 2029. Major growth factors for the Egypt air conditioner market include changing climate patterns in the region along with the increasing disposable income of the consumers. Furthermore, the increasing number of commercial and residential buildings owing to infrastructural development is also projected to fuel the Egypt air conditioner market growth during the forecast period.

Egypt Air Conditioner Market

Egypt Air Conditioner Market – Overview

An air conditioner is a device or system that lowers the temperature and regulates humidity in a confined room. These air conditioners do this via a variety of techniques, including passive cooling and ventilative cooling. They come in a range of sizes, from small models that are often used in cars and single rooms to larger models that are used to cool enormous buildings. There are several varieties of air conditioners available, including portable units, ducted central systems, mini-split, and multi-split systems.

Egypt Air Conditioner Market

Growth Drivers

Expanding Domestic Production of Air Conditioners

With the growing potential of the Egyptian air conditioner market and supply chain disruption during the COVID-19 pandemic, many private brands, particularly from China, are starting to invest in the market by establishing domestic production plants and facilities. Haier Smart Home intends to spend USD 130 million building a 200,000-square-meter complex in Cairo that will be completed in early 2024. Egypt's Elaraby Group and Taiwan's Rechi Precision Company have agreed to form a joint venture in order to build an air conditioning (AC) compressor factory in the country.

Restraints

High Cost of Air Conditioners

The average cost of air conditioners in Egypt ranges from around EGP 4,500 (approximately USD 145) to EGP 20,000 (approximately USD 650) and more. On top of the initial cost of the air conditioner, consumers have to bear the overhead charges, including periodic maintenance. The increase in raw material costs brought on by higher fuel prices, as well as component shortages, commodity price inflation, and supply chain disruption, have a direct impact on the cost of air conditioners in the nation. According to Time News, the demand for air conditioners is expanding but is only highly concentrated among the upper and middle-income group consumers. Such factors may limit the growth of the Egypt air conditioner market.

Impact of COVID-19 on the Egypt Air Conditioner Market

The unprecedented COVID-19 pandemic hampered the growth of Egypt's air conditioner market. The region is primarily dependent on imports, particularly from mainland China, to meet its local demand for air conditioners in the country. However, a temporary halt in China's manufacturing operations and supply chain disruptions negatively impacted market growth. Furthermore, the loss of jobs during the COVID-19 pandemic affected the purchasing power of Egyptian consumers, which limited the overall market growth during the period. However, the restrictions on international trade increased the local manufacturing market for air conditioners, which is anticipated to boost the overall market growth during the post-COVID-19 period.

Egypt Air Conditioner Market

Segmental Coverage

Egypt Air Conditioner Market – By Product Type

Based on product type, the Egypt air conditioner market is divided into splits, windows, VRF, chillers, and others (cassettes and ductable splits). The splits segment accounts for the highest share in the market and are projected to register a high growth rate during the forecast period as well. The growth of this segment is attributed to its higher energy efficiency than other types of temperature control systems, as well as the fact that they operate quietly and use less electricity.

Egypt Air Conditioner Market – By End User

Based on end user, the Egypt air conditioner market is segmented into residential, commercial, and industrial. The residential segment dominates the Egypt air conditioner market owing to the climate of the region. Egypt's weather is often hot, dry, and desert-dominated, with summer temperatures frequently reaching above 34°C (92°F). Furthermore, the increasing disposable income of consumers is further influencing the demand for air conditioners in the region. However, the commercial segment is projected to gain significant traction during the forecast period as well.

Egypt Air Conditioner Market Size

Competitive Landscape

Major players operating in the Egypt air conditioner market include Beko, Haier, Gree, Chigo, Samsung, LG, Voltas, Blue Star, Carrier, and TOYOTOMI. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In March 2023 - Haier, a home appliance and consumer electronics company based in China, inaugurated Haier Egypt Ecological Park, its first Egyptian factory to manufacture consumer goods, including air conditioners.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Billion

Product/ Service Segmentation

Product Type, End User

Key Players

Beko, Haier, Gree, Chigo, Samsung, LG, Voltas, Blue Star, Carrier, TOYOTOMI

 

By Product Type

  • Splits

  • Windows

  • VRF

  • Chillers

  • Others (Cassette, Ductable Splits)

By End User

  • Residential

  • Commercial

  • Industrial

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Egypt Air Conditioner Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising Temperatures
        2. Increasing Disposable Income
        3. Growing Urbanization
      2. Restraints
        1. High Initial Cost
        2. Unreliable Power Supply
      3. Opportunities
        1. Development of New Technologies
        2. Partnerships with Other Businesses
      4. Challenges
        1. Competition from International Brands
        2. Changing Consumer Preferences
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Egypt Air Conditioner Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
        1. Splits
        2. Windows
        3. VRF
        4. Chillers
        5. Others (Cassette, Ductable Splits)
      2. By End User
        1. Residential
        2. Commercial
        3. Industrial
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Egypt Air Conditioner Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid–19 on Egypt Air Conditioner Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Beko
    2. Haier
    3. Gree
    4. Chigo
    5. Samsung
    6. LG
    7. Voltas
    8. Blue Star
    9. Carrier
    10. TOYOTOMI
    11. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       Egypt Air Conditioner Segmentation   

Figure 2       Egypt Air Conditioner Market Value Chain Analysis 

Figure 3       Company Market Share Analysis, 2022

Figure 4       Egypt Air Conditioner Market Size, By Value (USD Billion), 2019–2029

Figure 5       Egypt Air Conditioner Market Share, By Product Type, By Value, 2019–2029 

Figure 6       Egypt Air Conditioner Market Share, By End-User, By Value, 2019–2029       

 

List of Tables

 

Table 1        Egypt Air Conditioner Market Size, By Value (USD Billion), 2019–2029

Table 2        Egypt Air Conditioner Market Size, By Product Type, By Value, 2019–2029

Table 3        Egypt Air Conditioner Market Size, By End-User, By Value, 2019–2029

Table 4        Beko Company Overview

Table 5        Beko Financial Overview

Table 6        Haier Company Overview

Table 7        Haier Financial Overview

Table 8        Gree Company Overview

Table 9        Gree Financial Overview

Table 10      Chigo Company Overview

Table 11      Chigo Financial Overview

Table 12      Samsung Company Overview

Table 13      Samsung Financial Overview

Table 14      LG Company Overview

Table 15      LG Financial Overview

Table 16      Voltas Company Overview

Table 17      Voltas Financial Overview

Table 18      Blue Star Company Overview

Table 19      Blue Star Financial Overview

Table 20      Carrier Company Overview

Table 21      Carrier Financial Overview

Table 22      TOYOTOMI Company Overview

Table 23      TOYOTOMI Financial Overview

Table 24      Other Prominent Players Company Overview

Table 25      Other Prominent Players Financial Overview

Market Segmentation

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No data available

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Frequently Asked Questions (FAQs):

Ans: Egypt Air Conditioner market size was estimated at USD 1.06 billion in 2022.
Ans: Egypt Air Conditioner market is expected to grow at a CAGR of 6.78% during the forecast period between 2023 and 2029.
Ans: Major factors driving the growth of Egypt Air Conditioner Market include increasing disposable income and growing urbanization.
Ans: Key players in Egypt Air Conditioner Market include Beko, Haier, Gree, Chigo, Samsung, LG, Voltas, Blue Star, Carrier, and TOYOTOMI.
Ans: The residential segment holds the highest market share in the Egypt Air Conditioner Market by end user.
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