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Latin America Commercial Air Conditioner Market Expected To Grow

air-conditioning-market

The recent resurgent in various economies means several industries are on the verge of growth after a lowly period in the last 12 months.

According to a research by 6Wresearch, a recent recovery in the construction sector on the basis of a resurgent economy will be the driving force for the Latin American commercial air conditioner market in the next couple of years.

In the last few years, there has been a slow economic growth in most Latin American countries mainly due to the difficulties experienced in the pandemic, and uncertainty amongst private investors in embarking in new infrastructural projects. Because of this, countries like Brazil, Argentina, and Mexico experienced minimal growth in construction leading to sizeable decline in demand for commercial air conditioners.

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In response to the growing challenges, government has initiated several infrastructural goals, and laws to boost construction, mitigate risk for private companies, and improve transparency in the procurement process. The combination of all of these will have a positive effect on the construction sector, which will boost the demand for commercial air conditioners in Latin American countries.

According to 6Wresearch, the market looks promising. The report indicates that the Latin America commercial air conditioner market with register a 2.3% CAGR growth rate in the period 2019-2025.

Renovation, renovation, and building activities in countries like Mexico, Brazil, and Argentina, on the basis of public-private partnerships is one the key facilators for the commercial air conditioner market in the region.

Along with favorable economic conditions, the recent interest in acquiring commercial spaces, corporate hubs, retail outlets, and office floor space, have also played a key role in the increase in the demand for commercial air conditioners in the region.

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“An increase in the development of public infrastructure play a major role in the entire construction market in the region,” said 6Wresearch Senior Research Analyst, Research and Consulting, Akshay Thakur. “These accounts for more than 50 percent of the construction spending in Latin America. Although some countries will continue to experience economic difficulties in the coming months, the Latin American construction spending is expected to recover. Overall economic improvement and investment reinforced by a public/private spending would help in strengthening the market.”

Some of the major players in the Latin America commercial air conditioner market include LG, Daikin, Trane, Midea and Johnson Controls.

Overall, the report offers a comprehensive analysis that covers various areas of the market. The report provides an estimate and forecast of the entire Latin America commercial air conditioner market. The report is divided into applications, countries, and types.

 

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Written by BetterAuds Team