Air Conditioner Remote Control Market to Gain a Stronghold by 2018 to 2028

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.

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Air Conditioner Remote Control Market: Drivers and Challenges

Drivers

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.

Challenges

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.

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Segmentation of the air conditioner remote control market on the basis of end users:

Residential
Commercial

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:

E-Commerce/Online
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

Key Players

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.

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This release was published on openPR.