Market Insights Consumer DIY & Hardware Store

Heating & Cooling - Angola

Angola

In Angola, the revenue in the Heating & Cooling market for 2024 amounts to €95.42m.
It is projected to experience an annual growth rate of 7.50% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this market, reaching €117bn in 2024.
In terms of per person revenues, in Angola generates €2.52 in 2024, relative to its total population figures.
In Angola, the current trend in the Heating & Cooling market is a growing demand for energy-efficient air conditioning systems to combat high temperatures.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Heating & Cooling market in the DIY & Hardware Store Market in Angola is experiencing minimal growth due to factors such as low consumer awareness, limited access to digital technology, and the emergence of traditional cooling methods. However, with increasing demand for energy-efficient solutions, the market is expected to witness slow but steady growth in the coming years.

Customer preferences: Consumers in Angola are becoming more interested in energy-efficient and eco-friendly home solutions, leading to a growing demand for sustainable heating and cooling options. As environmental awareness and concerns about rising energy costs increase, consumers are turning to DIY & hardware stores for products such as smart thermostats and energy-efficient HVAC systems. This trend is further fueled by the growing middle class and their desire for more comfortable and modern living spaces. Additionally, as access to electricity improves, consumers are willing to invest in heating and cooling solutions to combat the country's hot and humid climate.

Trends in the market: In Angola, the Heating & Cooling market within the DIY & Hardware Store market is experiencing a surge in eco-friendly products, such as energy-efficient air conditioners and solar-powered heaters. This trend is driven by increasing awareness of sustainability and government incentives for energy-efficient homes. Industry experts predict that this trend will continue to grow as consumers become more environmentally conscious. This shift towards eco-friendly options has significant implications for stakeholders, including increased demand for these products and potential changes in marketing and advertising strategies. Additionally, as the market evolves, there may be a need for retailers to expand their product offerings and provide more training and support for customers looking to make the switch to greener solutions.

Local special circumstances: In Angola, the Heating & Cooling market is heavily influenced by the country's tropical climate. Due to high temperatures and humidity, demand for air conditioning and ventilation systems is high. Additionally, the government's focus on improving energy efficiency has led to the popularity of eco-friendly cooling solutions. The country's economic growth and urbanization also contribute to the market's expansion, as more households and commercial buildings require HVAC systems. Furthermore, the DIY & Hardware Store market is heavily regulated in Angola, with strict import regulations and licensing requirements, creating barriers to entry for new players.

Underlying macroeconomic factors: The growth of the Heating & Cooling market within the DIY & Hardware Store Market in Angola is heavily influenced by macroeconomic factors such as the country's overall economic health and government policies. With Angola's recent economic diversification efforts and focus on infrastructure development, there is a growing demand for heating and cooling solutions in both residential and commercial sectors. Furthermore, the rising middle-class population and increasing urbanization are fueling the demand for DIY and hardware products, including heating and cooling systems. Additionally, global economic trends, such as the increasing awareness of energy-efficient and sustainable products, are shaping consumer preferences and driving innovation in the market. These macroeconomic drivers are expected to continue to support the growth of the Heating & Cooling market in Angola in the coming years.

Methodology

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.