In 2023, the actual import value of parts for air conditioners to South Africa stood at 89.309 million US dollars. Based on the forecasted data, we observe a steady growth trend from 2024 to 2028:
- In 2024, the imports are projected to reach 90.626 million US dollars, a year-on-year increase of 1.48%.
- In 2025, imports are expected to rise to 91.996 million US dollars, representing a 1.51% increase from 2024.
- By 2026, imports are anticipated to grow to 93.338 million US dollars, reflecting a 1.46% increase from the previous year.
- In 2027, the import value is forecasted to hit 94.653 million US dollars, marking a 1.41% rise from 2026.
- Finally, in 2028, imports are projected to reach 95.942 million US dollars, a 1.36% increase from 2027.
Over the five-year forecast period, the Compound Annual Growth Rate (CAGR) is approximately 1.44%, illustrating a consistent upward trend in the import of air conditioner parts to South Africa.
Future trends to watch for include potential shifts in trade policies, emerging technologies in air conditioning systems, fluctuations in currency exchange rates, and changes in demand due to economic conditions. Monitoring these factors will be essential to understanding and anticipating fluctuations in import volumes and values.