As Europe experiences record-breaking temperatures, Asian manufacturers of air conditioners are enjoying a significant increase in sales. Companies like Samsung Electronics, Midea, and Mitsubishi Electric are benefiting from the high demand for cooling devices.
Increased Demand
The heat wave has led to a surge in sales of portable and fixed air conditioners, with key markets such as Italy, Spain, and France generating double-digit sales growth in the first half of the year. Samsung Electronics expects sustained demand through the peak cooling season, citing temperatures expected to rise further from June onward.
Midea has also experienced strong demand for its PortaSplit air conditioner, with sales rising by 37% in May from a year earlier in German e-commerce channels, and shipments in Spain and France jumping 108% from a year earlier.
Challenges in Europe
However, the installation of air conditioners in Europe can be costly and complicated, often requiring lengthy wait times for fitting. The cost of installing an air conditioner in Europe can be more than $1,137, making it out of reach for many households.
According to the International Energy Agency, total ownership of air conditioning units in Europe stands at around 20%. The searing heat has made life, especially for the elderly and those with chronic diseases, hard to bear as they struggle to stay cool.
Original reporting: KTVZ (Central Oregon) — read the source article.
