DUBLIN–(BUSINESS WIRE)–The “Australia Residential Ducted Air Cooler And Residential Ducted Gas Heater Market Outlook: Market Forecast By By Size (For Ducted Gas Heaters-, By Star Ratings, By Area Coverage (For Ducted Air Coolers-, By Regions” report has been added to ResearchAndMarkets.com’s offering.
Australia Residential Ducted Air Cooler Market revenue is projected to grow at a CAGR of 3.9% during 2021-2027 whereas Australia Residential Ducted Gas Heater Market revenue is projected to grow at a CAGR of 3.6% during 2021-2027. The total number of households in Australia is projected to grow up to 13.2 million by 2041 from 9.2 million in 2016.
Australia residential ducted air cooler and ducted gas heater market report thoroughly covers the ducted air cooler market by area coverage, regions and ducted gas heater market by size, star ratings, and regions. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Australia Residential Ducted Air Cooler and Ducted Gas Heater Market Synopsis
The market for ducted gas heater is in its maturity phase of industry life cycle and would register minimal growth in revenues owing to stiff competition from substitutes like reverse cycle air conditioners and electric resistance heaters. Similarly, the market for residential ducted air cooler would also register minimal growth in revenues owing to growing consumer preference for substitutes like refrigerated air conditioners and portable coolers.
The outbreak of COVID-19 pandemic led to an increase in revenues for ducted gas heaters for the year 2020 as a result of growth in the work from home culture on account of stringent lockdowns all over the country.
The Government has also approved the homebuilder grant scheme which would augment the development of new households in Australia, thereby propelling the demand for ducted air coolers as well as ducted gas heaters in Australia. Moreover, technological advancements and the preference for higher energy efficient products would escalate the market revenues in the coming years.
Residential Ducted Air Cooler Market Analysis, By area coverage
In terms of market revenue share by area coverage, ‘larger than 160 square meter’ segment have captured around 49% of the market revenues for the year 2020′ owing to its suitability for majority of Australian households which have a large floor area. Moreover, the revenue share for these coolers is also projected to increase owing to the rise in average floor area of Australian households.
Residential Ducted Air Cooler Market Analysis, By region
In terms of market revenue share by regions, the eastern region held around 74% of the market revenues for the year 2020 due to high preference for ducted air coolers in Australian Capital Territory and Victoria. The northern region has zero contribution as ducted air coolers are not used there owing to minimal number of households along with lowest population.
Residential Ducted Gas Heater Market Analysis, By Size
In terms of market revenue share by size, up to 20 KW heaters held around 61% of the market revenues for the year 2020 on account of its greater usage in residential sector as Australian household needs are easily met by “below 20 KW” ducted gas heater. Moreover, 14-20 KW ducted gas heaters are also preferred among consumers for replacement purposes in existing households.
Residential Ducted Gas Heater Market Analysis, By Star Ratings
In terms of market volume share by star ratings, 5 star segment held around 48% of the market volume share for the year 2020 as most of the consumers prefer installing 5 star heaters with zoning as a standard feature in majority of the cases. Mid efficiency heaters (3 & 4 stars) had a high penetration during the last decade but would be replaced by high efficiency heaters in the future. Moreover, high efficiency heaters are preferred in cases where the owner or owner-builder is involved directly in the decision making process.
Key Highlights of the Report
Company Profiles
Market Scope and Segmentation
By Size (For Ducted Gas Heaters)
By Star Ratings (For Ducted Gas Heaters)
By Area Coverage (For Ducted Air Coolers)
By Regions (For Ducted Air Coolers and Ducted Gas Heaters)
For more information about this report visit https://www.researchandmarkets.com/r/cmq5zq
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