Top 3 Trends Impacting the Global Inverter Technology Air Conditioner Market Through 2020: Technavio
Technavio’s latest report on the global
inverter technology air conditioner market provides an
analysis on the most important trends expected to impact the market
outlook from 2016-2020. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
Poonam Saini, a lead analyst from Technavio, specializing in research on large
appliances sector, says, “The global inverter technology
air conditioner market is expected to grow at a CAGR of close to 13%
during the forecast period. Inverter technology air conditioners are
gaining visibility because of their high-energy star ratings and
government support programs. Thus, despite the higher initial cost, the
assurance of low electricity consumption acts as an attractive value
proposition for consumers to invest in an inverter technology air
conditioner.”
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The top three emerging trends driving the global inverter technology air
conditioner market according to Technavio research analysts are:
-
Inclusion of value-added features to justify the high cost
-
Emphasis on green technology
-
Eco-friendly refrigerants and advancements in technology
Inclusion of value-added features to justify the high cost
In recent times, manufacturers are focusing on providing value-added
features such as four-way swing option, virus and dust filters, and
stylish design elements with inverter technology air conditioners to
justify the higher price of these products. The benefits of inverter
technology are also being promoted as features.
Manufacturers are also differentiating their products with the inclusion
of smart connect features and smart diagnosis enabled through NFC
and Wi-Fi connectivity. For instance, Samsung introduced its new range
of smart air conditioners, which offer high energy savings and cooling
experience. The product is equipped with the world's first new 8-pole
motor in its digital inverter compressor.
The availability of a wider range of products is also helping brands
showcase differentiation in terms of color and design patterns. Features
such as anti-dust and anti-bacterial filters, multi-seasonal options,
auto clean mode, multi-flow condenser, sleep mode, and energy-saver mode
are being increasingly introduced in the market.
Emphasis on green technology
Governments across the world and especially in the US and EU are trying
to promote the use of more energy-efficient products by trying to spread
awareness at the level of the manufacturer, the retailer and the user.
The power consumed by household appliances accounts for around 35% of
the total power consumption of a household, many consumers are now
purchasing energy-efficient appliances. Inverter technology can reduce
this high-energy consumption by avoiding sudden inrush of current, which
is typical of on-off mechanism used in conventional air conditioners.
“Therefore, by introducing inverter technology air conditioners,
manufacturers are supporting the green trend as they lower energy
consumption by 40%-60%. Moreover, the heat pumps used in these
appliances reduce the CO2 emissions by 60% in comparison to other
appliances that use fossil fuels,” says Poonam.
Eco-friendly refrigerants and advancements in technology
A refrigerant is a medium that conveys heat. Air conditioners transfer
heat while circulating the refrigerant between the indoor and outdoor
units. The global air conditioner market is very competitive with low
product differentiation. Therefore, to gain a competitive edge,
manufacturers are focusing on using different types of refrigerants to
differentiate their offerings and reduce the impact on the environment.
In addition to the evolution of refrigerants,
technological advances also play a major role in reducing the energy
consumption rate of air conditioners substantially. In August 2016,
Mitsubishi Electric introduced its new transfer-mold power semiconductor
model under its line-up of super-mini dual-in-line package intelligent
power modules (DIPIPM) embedded with silicon carbide
metal-oxide-semiconductor field-effect transistors (Sic-MOSFETs). The
new model is highly energy-efficient. SiC-MOSFET reduces the power
consumption by about 70% compared with Mitsubishi Electric's existing
super mini DIPIPM.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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