November 14, 2016 - 2:43 PM EST
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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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Technavio Research
Jesse Maida
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UK: +44 208 123 1770

Source: Business Wire (November 14, 2016 - 2:43 PM EST)

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