The import of air conditioners with refrigerating units into Australia has shown fluctuating trends over the past decade. Starting from 2013, there was a mix of growth and decline with notable peaks and troughs. From the year 2017, there was a significant spike of 39.43%, followed by a steep decline in 2018. The pattern has continued with less drastic changes, ending in 2023 where the value stood at 98.237 Million US Dollars, reflecting a 1.21% year-on-year increase compared to 2022. The compound annual growth rate (CAGR) over the last five years stands at 2.87% leading into 2023.
Future forecasts from 2024 onwards suggest a steadier and minimal growth, with a 5-year projected CAGR of 0.95%. This indicates a more stable but slower growth trajectory in the market.
Trends to watch for:
- Technological advancements and sustainability factors influencing demand.
- Global climate conditions driving increased air conditioning needs.
- Economic conditions affecting consumer purchasing power in Australia.
