The import of air conditioners with reverse cycle refrigeration to Spain has shown significant fluctuations over the past decade. In 2023, the import value stood at $213.68 million. The data reveals a declining trend characterized by sharp declines such as the one observed in 2018 and 2020, and modest recoveries like in 2014 and 2021. Year-on-year variations show a general downturn in recent years, with a decline of -3.8% from 2022 to 2023.
Over the last two years, imports decreased by -3.8%. The 5-year CAGR indicates an average annual decline of -1.94% up to 2023. Looking ahead, forecasted imports for the next five years also predict a consistent downward trend with a 5-year CAGR of -3.67%, culminating in a 17.05% reduction by 2028.
Future Trends to Watch For:
- The potential impact of energy efficiency regulations
- Shifts in consumer preferences towards more sustainable solutions
- Technological advancements in HVAC systems
- Evolving economic conditions and their influence on import activities
