Market Insights Consumer Household Appliances Major Appliances

Air Conditioners - Montenegro

Montenegro

In 2024, the Air Conditioners market in Montenegro generated a revenue of US$5.26m.
It is projected to grow at an annual rate of 2.25% (CAGR 2024-2029).
When compared globally, the highest revenue is generated in China, amounting to US$15,980m in 2024.
In terms of per household revenues, in Montenegro recorded US$27.75 in 2024.
Looking ahead, the volume in the Air Conditioners market is expected to reach 6.1k pieces by 2029.
The segment is projected to show a volume growth rate of 1.5% in 2025.
On average, each household in Montenegro is expected to have a volume of 0.03pieces in the Air Conditioners market by 2024.
Montenegro's air conditioner market is experiencing a surge in demand due to the country's hot and humid climate.

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

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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.