Air Conditioning Market By Product (Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers, and Others), By Component (Compressor, Evaporator, Fan, and Condenser Coil), By Technology (Automatic Air Conditioning, Manual/Semi-Automatic Air Conditioning, Invertor, Split A/C, and Others), and By End-User (Commercial, Residential, Industrial, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Global air conditioning market expected to reach around USD 292.7 billion by 2025, at a CAGR approximately 11.7% for the forecast period from 2019 to 2025. The global air conditioning market is likely to grow significantly in the upcoming years, due to improving economic conditions, rising per capita income, and increasing pollution levels.

11-Apr-2019 | Number of pages: 210 | Report Code: ZMR-953 | Report Format : | Status : Published

Analysis

Air conditioning, generally known as AC, A/C, or air con, involves disposing moisture and heat from the enclosed and occupied area and making the environment comfortable for people. It is also used for spaces with electronic gadgets to keep maintain a controlled temperature. The extended call for ACs has been found across all sectors and verticals. Rigid government rules regarding refrigerants are forcing the AC manufacturers to develop energy-efficient and eco-friendly products.

The global air conditioning market is likely to grow significantly in the upcoming years, due to improving economic conditions, rising per capita income, and increasing pollution levels. Technological advancements witnessed in developing countries are also driving the air conditioning market globally. The rising level of air pollution is harming not only the environment but also the people living in that particular environment. Pollution is giving rise to fatigue and headaches, which are common symptoms caused by poor air quality. This is further propelling the global air conditioning system market. However, the high cost of air conditioning system may hinder this market’s growth. As air conditioning has become more of a necessity keeping aside the needs and wants, the challenge for air conditioning manufacturing companies will be to make air conditioning systems cheaper and more effective than before.

Global Air Conditioning Market

By product, the market includes room/unitary air conditioners, chillers, VRF systems, coolers, and others. By component, the market includes a compressor, evaporator, fan, and condenser coil. The technology segment includes automatic air conditioning, manual/semi-automatic air conditioning, inverter, split A/C, and others. The invertor segment is anticipated to grow substantially in the future, due to its high energy saving ratings and government support programs. The end-user segment includes commercial, residential, industrial, and others.

By region, North America is expected to hold a substantial share of the global air conditioning market in the future, owing to the recent changes made to the standards of American Society of Heating, Refrigerating, and Air Conditioning and the presence of prominent players like Siemens Building Technologies, Goodman, and Lennox International in the region. The Asia Pacific is anticipated to depict substantial growth over the forecast time period, due to the growing inclination toward a comfortable lifestyle and the rising awareness about energy-efficient and eco–friendly electronic devices. The Middle Eastern and African air conditioning market is expected to witness considerable growth in the years ahead, due to the rising use of consumer electronics across the region.

Some key players of the global air conditioning market include Midea Group, Hisense Electric Co., Carrier Corporation, Panasonic Corporation, Hitachi Ltd., Samsung Electronics Ltd., LG Electronics Inc., Daikin Industries Ltd., Electrolux AB, Sharp Corporation, and Mitsubishi Electric Corporation.


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