In this article, we will be analyzing what ideal weather is. We will also be looking at the impact of this weather in the long term while covering the 15 countries that have the best weather in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Countries That Have the Best Weather in the World.
What Makes Weather Ideal?
An ideal weather is a combination of various weather conditions. Ideal weather is usually characterized by a comfortable temperature which is neither very hot nor very cold, moderate rainfall throughout the year, high sunshine, consistent humidity, and moderate wind. If we stretch these conditions to a longer period of time, ideal weather would contribute to a stable climate that is more predictable and rarely offers extreme weather conditions.
Impact of Climate Change on Weather Patterns
Over the years, there have been less snow packed winters and longer lasting summers. These extreme weather patterns are a product of global warming. On September 14, NASA reported that the summer of 2023 was the hottest ever since 1880. June, July and August in 2023 were 0.23 degrees warmer than all previous summers recorded by NASA. While some parts of the world such as Greece, Italy and Central Europe experienced harsh rainfalls, Canada and Hawaii became subjected to wildfires. Some background research to uncover the true cause of the extreme weather suggests that it is a major result of greenhouse gas emissions and also partly driven by El-Nino, a warmer than normal sea surface temperature in the Central and Eastern Pacific Ocean, leading to droughts in countries such as Indonesia and Australia and cooler weather in the South West of the US.
The HVAC Market and Major Players
According to a report by Research and Markets, the global HVAC industry was valued at $225.5 billion in 2022 and is expected to grow to $309.62 billion by 2028, at a compound annual growth rate of 5.4% over the forecast period. Region wise, Asia Pacific dominates the market due to rising demand from residential and industrial customers. Another rapidly growing market for HVAC equipment is Europe since France and Germany are experiencing rapid urbanization and industrial development.
Some of the dominant players in the global HVAC market include Johnsons Control International plc (NYSE:JCI), Lennox International Inc. (NYSE:LII) and Carrier Global Corporation (NYSE:CARR). Let’s discuss them.
Johnsons Control International plc (NYSE:JCI) contributes to weather resilient buildings by manufacturing HVAC equipment for them. The company’s HVAC manufacturing facilities operate in different parts of the world to produce air conditioners, furnaces, and heat pumps for commercial use. On August 2, the company reported its earnings for the fiscal third quarter of 2023. The company reported earnings per share of $1.03, in line with the EPS estimates. The company’s revenue for the quarter amounted to $7.1 billion, up 8% year over year.
Lennox International Inc. (NYSE:LII) is another leading provider of heating, ventilation, air conditioning, and refrigeration equipment targeted at both residential and commercial customers. On September 21, the company reported that it has decided to focus on its North American operations by entering into an agreement to sell its European HVAC and refrigeration business to Syntagma Capital. The transaction is expected to be completed in the fiscal fourth quarter of 2023.
Based in Florida, Carrier Global Corporation is a popular producer and distributor of heating, ventilation, and air conditioning (HVAC) systems. The company continues to maintain its brand quality in the HVAC market. On September 15, the company reported that it has launched a 6,000-square-foot training center in Indianapolis. An annual additional capacity of 30,000 hours of training at the new center will enable the network of carrier distributors and factory-authorized dealers to install home HVAC systems in a proper and efficient manner thereby contributing to customer satisfaction.
Now that we have discussed weather patterns and the HVAC industry, let’s take a look at the 15 countries that have the best weather in the world.
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Methodology
In order to compile a list of the 15 countries that have the best weather in the world, we considered certain metrics that could help quantify pleasant weather in the most appropriate way. An ideal or best weather is the one which is typically moderate and safe from extreme temperatures, thereby tolerable and preferred by all body types.
Since the research topic was broad and subjective, we hypothesized that pleasant weather is mainly characterized by wind which tends to lower the impact of humidity present in the atmosphere, making the temperature mild. Thus, our primary metric is the wind speed which should ideally be between 3 and 9 meters per second, according to experts. Thus, we screened countries with wind speeds in this range thereby depicting moderate weather conditions. The average wind speed, expressed in meters per second, was sourced from the World Wind Atlas, a product of the World Bank. Our secondary metric is the average annual surface air temperature measured in degrees Celsius. The annual average surface air temperature has been taken from the World Bank. This temperature is calculated by taking measurements of the average temperature of surface air in a country over one year. Thus, if this metric lies in a moderate range which is less than 25 degrees but not close to an absolute zero on the Celsius scale, the weather is typically considered moderate. The most recent data for average annual surface air temperatures was available from 2022.
The 15 countries with the best weather in the world have been ranked in order of their wind speeds and annual average surface air temperature, on a priority basis.
15 Countries That Have the Best Weather in the World
15. Ecuador
Average Wind Speed: 7.33 Meters Per Second
Annual Average Surface Air Temperature: 21.07 Degrees Celsius
The weather in Ecuador is ideal as it is consistent throughout the year. Since the country is at the equator, the sunshine is also steady and hence, these conditions make the country one of the places with the best weather in the world.
14. Nepal
Average Wind Speed: 7.36 Meters Per Second
Annual Average Surface Air Temperature: 14.39 Degrees Celsius
There are different weather patterns across Nepal. In the south, there is a sub-tropical climate with a rainy season while the climate is temperate in low mountains. These patterns are pleasant to experience making the country one of the 15 countries with the best weather across the globe.
13. Portugal
Average Wind Speed: 7.62 Meters Per Second
Annual Average Surface Air Temperature: 16.9 Degrees Celsius
Portugal is another country with pleasant weather. Summers are long yet winters are mild and most of the days are sunny making the country a top tourist destination in the world.
12. Jordan
Average Wind Speed: 7.7 Meters Per Second
Annual Average Surface Air Temperature: 19.77 Degrees Celsius
The weather in Jordan is especially mild and pleasant from March to May and September to November. The skies are clear and most of the days have sunshine to offer, making the country an ideal place in terms of weather conditions.
11. Spain
Average Wind Speed: 7.73 Meters Per Second
Annual Average Surface Air Temperature: 15.3 Degrees Celsius
Spain is one of the 15 countries that have the best weather in the world. This is evident from the fact that many expats in the country enjoy the overall experience due to the pleasant weather.
Some of the top companies leading the global HVAC industry include Johnsons Control International plc (NYSE:JCI), Lennox International Inc. (NYSE:LII) and Carrier Global Corporation (NYSE:CARR).
10. Belgium
Average Wind Speed: 7.99 Meters Per Second
Annual Average Surface Air Temperature: 11.98 Degrees Celsius
The winters are gentle while the summers are rather cool in Belgium. Thus, Belgium is another country with the most pleasant weather as there are fewer temperature variations and more moderate weather conditions.
9. Australia
Average Wind Speed: 8.01 Meters Per Second
Annual Average Surface Air Temperature: 21.96 Degrees Celsius
Australia also qualifies for our list of the top 15 countries with the best weather in the world. This is because the weather conditions are favorable and not extreme throughout the year.
8. Switzerland
Average Wind Speed: 8.07 Meters Per Second
Annual Average Surface Air Temperature: 8.08 Degrees Celsius
Switzerland has pleasant weather to offer as there is no excess of cold, heat, or humidity. Wind from the Atlantic results in a relatively milder climate in the country making it one of the places with the best weather in the world.
7. Croatia
Average Wind Speed: 8.13 Meters Per Second
Annual Average Surface Air Temperature: 13.16 Degrees Celsius
Croatia is another country with good climatic conditions. Winters come with milder temperatures while summers are sunny and warm. There are no extreme temperatures in the country which attracts tourists from around the world.
6. Uruguay
Average Wind Speed: 8.16 Meters Per Second
Annual Average Surface Air Temperature: 17.73 Degrees Celsius
As indicated by the moderate annual surface air temperature and a reasonable wind speed, Uruguay has pleasant weather which is fairly consistent throughout the year. Even the rainfall tends to be uniform throughout the year thereby making Uruguay one of the 15 countries with good weather in the world.
For investors looking to increase their exposure to the global HVAC market, some stocks to consider include Johnsons Control International plc (NYSE:JCI), Lennox International Inc. (NYSE:LII) and Carrier Global Corporation (NYSE:CARR).
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Disclosure: None. 15 Countries That Have the Best Weather in the World is originally published on Insider Monkey.