This study covers the world outlook for Air Conditioning And Refrigeration Equipment across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created.
This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all of the countries of the world). This study gives, however, my estimates for the worldwide latent demand, or the P.I.E., for Air Conditioning And Refrigeration Equipment. It also shows how the P.I.E. is divided across the world’s regional and national markets. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
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In order to estimate the latent demand for Air Conditioning And Refrigeration Equipment on a worldwide basis, we used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, we heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption.
Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium is realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, We conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. In the 1940s, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries).
The average propensity to consume is constant. Methodology is used to create the latent demand estimates for Air Conditioning And Refrigeration Equipment.
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Methodology comprises following steps:
Step 1: Product Definition And Data Collection
Step 2: Filtering And Smoothing
Step 3: Filling In Missing Values
Step 4: Varying Parameter, Non-Linear Estimation
Step 5: Fixed-Parameter Linear Estimation
Step 6: Aggregation And Benchmarking
Step 7: Latent Demand Density: Allocating Across Cities
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Table of contents:
- What Is Latent Demand And The P.I.E.
- The Methodology
- Frequently Asked Questions (Faq)
- Regional Analysis: Africa, Asia, Europe, Latin America, North America & The Caribbean, Oceania, The Middle East and Rest of World.
- Disclaimers, Warrantees, And User Agreement Provisions
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- The report analyses how the stringent emission control norms will drive the global Air Conditioning And Refrigeration Equipment market.
- Analyzing various perspectives of the market with the help of in detailed analysis.
- Study on the product type that is expected to dominate the Air Conditioning And Refrigeration Equipment Market.
- Study on the regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major players of Air Conditioning And Refrigeration Equipment Market.
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