Heating & Cooling - Southern Africa

In Southern Africa, the revenue generated in the Heating & Cooling market in 2024 amounts to US$518.40m.
It is projected to experience an annual growth rate of 0.99% (CAGR 2024-2029).
When compared globally, United States leads the market with a revenue of US$126bn in 2024.
In terms of per capita income, each person in Southern Africa generates US$7.40 in revenue in 2024.
The demand for energy-efficient cooling systems is rapidly increasing in Southern Africa due to rising temperatures and the need for sustainable solutions.

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 Southern Africa continues to witness a slowdown in growth, impacted by factors such as economic uncertainty, changing consumer preferences, and saturation in the market. Despite this, the Heating & Cooling segment remains a key driver, fuelled by rising demand for energy-efficient and environmentally friendly products.

Customer preferences: As the demand for energy-efficient and environmentally friendly options increases, consumers in Southern Africa are turning to DIY and hardware stores for innovative heating and cooling solutions. This trend is driven by a growing awareness of sustainability and a desire for cost-effective options. Additionally, with a rise in remote work and a focus on home comfort, there is a growing demand for smart heating and cooling systems that can be controlled through apps and smart devices.

Trends in the market: In Southern Africa, the Heating & Cooling Market within the DIY & Hardware Store Market is experiencing a growing demand for energy-efficient solutions. This trend is driven by increasing awareness about the impact of climate change and rising energy costs. As a result, there is a shift towards eco-friendly products, such as solar-powered air conditioners and geothermal heating systems. This trajectory is significant as it aligns with global efforts towards sustainability and presents opportunities for industry stakeholders to innovate and cater to the evolving consumer preferences. However, this trend also poses challenges in terms of cost and infrastructure limitations in some regions, which could potentially slow down the adoption of these products.

Local special circumstances: In Southern Africa, the Heating & Cooling Market within the DIY & Hardware Store Market is influenced by the region's unique geographical and cultural factors. Due to the hot and humid climate, there is a high demand for cooling systems, while the colder winters create a need for heating solutions. Additionally, the region's growing middle class, coupled with increasing urbanization, has led to a rise in DIY culture, driving the demand for heating and cooling products in the hardware store market. Furthermore, regulatory initiatives promoting energy-efficient and environmentally friendly products also play a significant role in shaping market dynamics in Southern Africa.

Underlying macroeconomic factors: The heating and cooling market within the DIY and hardware store market in Southern Africa is greatly impacted by macroeconomic factors, including global economic trends, national economic health, fiscal policies, and financial indicators. In countries with stable economic conditions and favorable fiscal policies, the market is expected to experience steady growth. Additionally, investment in infrastructure and technological advancements also contribute to market growth by creating demand for energy-efficient heating and cooling solutions. However, regions with economic instability and limited government funding may face challenges in market growth. The increasing prevalence of extreme weather conditions and the need for energy conservation also play a significant role in driving the demand for heating and cooling solutions in this market.

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.