Market Insights Consumer Household Appliances Major Appliances

Air Conditioners - Cuba

Cuba

In 2024, the Air Conditioners market in Cuba generated a revenue of US$15.09m.
This market is projected to experience an annual growth rate of 5.70% (CAGR 2024-2029).
When compared globally, in China leads the pack with a revenue of US$15,980m in 2024.
Looking at the per household revenues in 2024, we see that each household contributed US$5.84 to the Air Conditioners market.
As for the volume of air conditioners, it is expected to reach 135.3k pieces units by 2029.
In 2025 alone, the segment is expected to grow by 3.4%.
When we consider the average volume per household in the Air Conditioners market in Cuba, it is estimated to be 0.04pieces units in 2024.
Cuba's air conditioner market is experiencing a surge in demand due to the country's tropical climate and increasing tourism industry.

Key regions: Indonesia, India, Japan, China, Worldwide

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.