Heating & Cooling - Ethiopia | Statista Market Forecast

In Ethiopia, the Heating & Cooling market generated a revenue of US$92.51m in 2024.
It is projected to experience an annual growth rate of 8.27% (CAGR 2024-2029).
When compared globally, United States leads the market with a revenue of US$126bn in 2024.
In terms of per capita figures, the revenue generated per person in Ethiopia amounts to US$0.71 in 2024.
Ethiopia's heating and cooling market is experiencing a growing demand for energy-efficient and sustainable solutions due to the country's focus on sustainable development.

Definition:

In the segment of Heating & Cooling, the focus lies on various heating and cooling systems which can be found inside buildings. Included in this segment regarding cooling are mainly air conditioners and cooling supplies.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Air conditioners & coolers
Heating systems & heaters
Stoves, fireplaces & chimneys
Heating & cooling supplies

Air treatment devices (purifier, humidifier, etc.)
Ventilators
Solar systems for heating support

The DIY & Hardware Store market in Ethiopia has witnessed moderate growth due to factors such as low disposable income and minimal presence of organized retail outlets. Despite the subdued growth rate, the market is expected to see an increase in demand for heating and cooling products from the rising construction sector and growing urbanization.

Customer preferences: In Ethiopia, there is a growing trend towards energy-efficient and eco-friendly solutions in the Heating & Cooling Market within the DIY & Hardware Store Market. This is influenced by the country's commitment to sustainability and environmental conservation. As a result, consumers are increasingly opting for products such as solar-powered air conditioners and energy-efficient heaters. Additionally, the rising middle class and urbanization have led to an increase in demand for modern and convenient heating and cooling solutions, such as smart thermostats and programmable air conditioners.

Trends in the market: In Ethiopia, there is a growing demand for energy-efficient heating and cooling solutions within the DIY and hardware store market. This trend is driven by the increasing awareness of the importance of energy conservation and the rising costs of traditional heating and cooling methods. With the government's focus on promoting green energy initiatives, there is a push towards using renewable energy sources for heating and cooling. This has led to an increase in the availability of energy-efficient products in DIY and hardware stores. As the trend towards sustainable living continues to grow in Ethiopia, industry stakeholders can expect to see a shift towards more eco-friendly heating and cooling options in the DIY and hardware store market. Additionally, this trend presents opportunities for businesses to offer innovative and affordable solutions, further driving the growth of the heating and cooling market in Ethiopia.

Local special circumstances: In Ethiopia, the Heating & Cooling Market within the DIY & Hardware Store Market is heavily influenced by the country's predominantly rural population. Lack of access to electricity and extreme weather conditions make efficient and affordable heating and cooling solutions essential. Additionally, cultural preferences for traditional cooking methods and religious practices also play a role in shaping the market. These factors differentiate Ethiopia from other markets and require tailored strategies to meet the unique needs of the local population.

Underlying macroeconomic factors: The Heating & Cooling Market within the DIY & Hardware Store Market in Ethiopia is influenced by macroeconomic factors such as economic stability, household income and consumer spending. The country's GDP growth rate has been steadily increasing, leading to a rise in disposable income and urbanization. This has resulted in a larger middle class with a higher purchasing power, leading to a higher demand for home improvement and maintenance products, such as heating and cooling systems. Moreover, the government's focus on infrastructure development and the promotion of affordable housing has further propelled the demand for heating and cooling products. Additionally, Ethiopia's favorable regulatory environment and increasing investment in the construction sector are also contributing to the growth of the heating and cooling market within the DIY & Hardware Store Market, as these factors drive the demand for high-quality and energy-efficient products.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The heating, ventilation, and air conditioning (HVAC) technology provides environmental comfort through thermal manipulation (heating and air conditioning) and acceptable indoor air quality (ventilation). Sometimes refrigeration is also included in the field as HVACR. The HVAC industry is largely fueled by regional regulations and differences: Asia was said to have one of the largest HVAC market sizes, with a larger demand for air conditioners than in other regions. Meanwhile, Italy was one of the European countries with the biggest heat pump markets in 2020. Due to these differences between countries, there is little to no comparative information on this competitive market. In the United States alone, for example, a certain level of fragmentation can be observed, as the number of employees in the plumbing and HVAC industry varied widely from state to state.