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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

Published Date: 11-Apr-2019 Category: Consumer Goods Report Format : PDF Pages: 210 Report Code: ZMR-953 Status : Published

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.

Description

The report analyzes and forecasts the air conditioning market on the basis of product, component, technology, end-user, and region. The study shows past data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The assessment of market dynamics gives a brief insight into the drivers and restraints of the air conditioning market along with their impact on the demand over the forecast period. Furthermore, the report includes the study of opportunities available in the air conditioning market on a regional level.

The report gives a transparent view of the air conditioning market. We have included a detailed competitive scenario and portfolio of prominent vendors operating in the global air conditioning market. To understand the competitive landscape of the air conditioning market, an analysis of Porter’s Five Forces model for the market has also been included. The report offer market attractiveness analysis, wherein all the segments are benchmarked based on their general attractiveness, market size, and growth rate.

Global Air Conditioning Market

The study provides a crucial view of the air conditioning market based on product, component, technology, end-user, and region. All the segments are analyzed based on present and future trends and the market is estimated from 2019 to 2025. 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 end-user segment includes commercial, residential, industrial, and others. The market is analyzed based on five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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.

This report segments the global air conditioning market into:

Global Air Conditioning Market: By Product

  • Room/Unitary Air Conditioners
  • Chillers
  • VRF Systems
  • Coolers
  • Others

Global Air Conditioning Market: By Component

  • Compressor
  • Evaporator
  • Fan
  • Condenser Coil

Global Air Conditioning Market: By Technology

  • Automatic Air Conditioning
  • Manual/Semi-Automatic Air Conditioning
  • Invertor
  • Split A/C
  • Others

Global Air Conditioning Market: By End-User

  • Commercial
  • Residential
  • Industrial
  • Others

Global Air Conditioning Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report Description and Scope
      • 1.1.1. Objective
      • 1.1.2. Target Audience
      • 1.1.3. Unique Selling Proposition (USP) & Offerings
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
      • 1.3.3. New: Primary Research
      • 1.3.4. Retrofit: Secondary Research
      • 1.3.5. Level 3: Data Validation and Expert Panel Assessment Report Description and Scope
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global Air Conditioning Market, 2016-2025 (USD Billion)
    • 2.2. Global Air Conditioning Market: Snapshot
  •  
  • Chapter 3. Air Conditioning Market - Industry Analysis
    • 3.1. Introduction
    • 3.2. Industry ecosystem analysis
    • 3.3. Technology landscape
    • 3.4. Market Drivers
      • 3.4.1. Increasing Vehicle Production
    • 3.5. Restraints
      • 3.5.1. High Cost of Air Conditioner Systems
    • 3.6. Opportunities
      • 3.6.1. Introducing New Features That are Pocket-Friendly
    • 3.7. Regulatory landscape
    • 3.8. Porter's Five Forces Analysis
    • 3.9. PESTLE Analysis
    • 3.10. Market Attractiveness Analysis
      • 3.10.1. Market Attractiveness Analysis, by Product
      • 3.10.2. Market Attractiveness Analysis, by Component
      • 3.10.3. Market Attractiveness Analysis, by Technology
      • 3.10.4. Market Attractiveness Analysis, by End-User
      • 3.10.5. Market Attractiveness Analysis, by Region
  •  
  • Chapter 4. Global Air Conditioning Market - Competitive Landscape
    • 4.1. Company Market Share, 2018
    • 4.2. Strategic Development
      • 4.2.1. Mergers & Acquisitions
      • 4.2.2. New Product Launch
      • 4.2.3. Agreements, Partnerships, Collaborations, and Joint Ventures
      • 4.2.4. Research and Development and Regional Expansion
  •  
  • Chapter 5. Global Air Conditioning Market- By Product
    • 5.1. Air Conditioning Market: Product Overview
      • 5.1.1. Global Air Conditioning Market Revenue Share, by Product, 2018 & 2025
    • 5.2. Room/Unitary Air Conditioners
      • 5.2.1. Global Air Conditioning Market for Room/Unitary Air Conditioners, 2016-2025 (USD Billion)
    • 5.3. Chillers
      • 5.3.1. Global Air Conditioning Market for Chillers, 2016-2025 (USD Billion)
    • 5.4. VRF SYSTEMS
      • 5.4.1. Global Air Conditioning Market for VRF Systems, 2016-2025 (USD Billion)
    • 5.5. Coolers
      • 5.5.1. Global Air Conditioning Market for Coolers, 2016-2025 (USD Billion)
    • 5.6. Others
      • 5.6.1. Global Air Conditioning Market for Others, 2016-2025 (USD Billion)
  •  
  • Chapter 6. Global Air Conditioning Market - By Component
    • 6.1. Air Conditioning Market: Component Overview
      • 6.1.1. Global Air Conditioning Market Revenue Share, by Component, 2018 & 2025
    • 6.2. Compressor
      • 6.2.1. Global Air Conditioning Market by Compressor, 2016-2025 (USD Billion)
    • 6.3. Evaporator
      • 6.3.1. Global Air Conditioning Market by Evaporator, 2016-2025 (USD Billion)
    • 6.4. Fan
      • 6.4.1. Global Air Conditioning Market by Fan, 2016-2025 (USD Billion)
    • 6.5. Condenser Coil
      • 6.5.1. Global Air Conditioning Market by Condenser coil, 2016-2025 (USD Billion)
  •  
  • Chapter 7. Global Air Conditioning Market - By Technology
    • 7.1. Air Conditioning Market: Component Overview
      • 7.1.1. Global Air Conditioning Market Revenue Share, by Technology, 2018 & 2025
    • 7.2. Automatic Air Conditioning
      • 7.2.1. Global Air Conditioning Market for Automatic Air Conditioning, 2016-2025 (USD Billion)
    • 7.3. Manual/Semi-Automatic Air Conditioning
      • 7.3.1. Global Air Conditioning Market for Manual/Semi-Automatic Air Conditioning, 2016-2025 (USD Billion)
    • 7.4. Invertor
      • 7.4.1. Global Air Conditioning Market for Invertor, 2016-2025 (USD Billion)
    • 7.5. Split A/C
      • 7.5.1. Global Air Conditioning Market for Split A/C, 2016-2025 (USD Billion)
    • 7.6. Others
      • 7.6.1. Global Air Conditioning Market for Others, 2016-2025 (USD Billion)
  •  
  • Chapter 8. Global Air Conditioning Market - By End-User
    • 8.1. Air Conditioning Market: End-User Overview
      • 8.1.1. Global Air Conditioning Market Revenue Share, by End-User, 2018 & 2025
    • 8.2. Commercial
      • 8.2.1. Global Air Conditioning Market for Commercial, 2016-2025 (USD Billion)
    • 8.3. Residential
      • 8.3.1. Global Air Conditioning Market for Residential, 2016-2025 (USD Billion)
    • 8.4. Industrial
      • 8.4.1. Global Air Conditioning Market for Industrial, 2016-2025 (USD Billion)
    • 8.5. Others
      • 8.5.1. Global Air Conditioning Market for Others, 2016-2025 (USD Billion)
  •  
  • Chapter 9. Global Air Conditioning Market - Regional Analysis
    • 9.1. Air Conditioning Market: Regional Overview
      • 9.1.1. Air Conditioning Market Revenue Share, by Region, 2018 & 2025
    • 9.2. North America
      • 9.2.1. North America Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
      • 9.2.2. North America Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.2.3. North America Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
      • 9.2.4. North America Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.2.5. The U.S.
        • 9.2.5.1. The U.S. Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.2.5.2. The U.S. Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.2.5.3. The U.S. Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.2.5.4. The U.S. Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.2.6. Canada
        • 9.2.6.1. Canada Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.2.6.2. Canada Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.2.6.3. Canada Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.2.6.4. Canada Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.2.7. Mexico
        • 9.2.7.1. Mexico Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.2.7.2. Mexico Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion).
        • 9.2.7.3. Mexico Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.2.7.4. Mexico Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
    • 9.3. Europe
      • 9.3.1. Europe Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
      • 9.3.2. Europe Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.3.3. Europe Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
      • 9.3.4. Europe Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.3.5. UK
        • 9.3.5.1. UK Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.3.5.2. UK Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.5.3. UK Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.3.5.4. UK Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.3.6. Germany
        • 9.3.6.1. Germany Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.3.6.2. Germany Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.6.3. Germany Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.3.6.4. Germany Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.3.7. France
        • 9.3.7.1. France Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.3.7.2. France Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.7.3. France Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.3.7.4. France Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.3.8. Russia
        • 9.3.8.1. Russia Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.3.8.2. Russia Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.8.3. Russia Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.3.8.4. Russia Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.3.9. Rest of Europe
        • 9.3.9.1. Rest of Europe Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.3.9.2. Rest of Europe Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.3.9.3. Rest of Europe Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.3.9.4. Rest of Europe Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
      • 9.4.2. Asia Pacific Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.4.3. Asia Pacific Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
      • 9.4.4. Asia Pacific Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.4.5. China
        • 9.4.5.1. China Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.4.5.2. China Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.5.3. China Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.4.5.4. China Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.4.6. Japan
        • 9.4.6.1. Japan Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.4.6.2. Japan Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.6.3. Japan Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.4.6.4. Japan Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.4.7. India
        • 9.4.7.1. India Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.4.7.2. India Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.7.3. India Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.4.7.4. India Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.4.8. South Korea
        • 9.4.8.1. South Korea Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.4.8.2. South Korea Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.8.3. South Korea Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.4.8.4. South Korea Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.4.9. Rest of Asia Pacific
        • 9.4.9.1. Rest of Asia Pacific Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.4.9.2. Rest of Asia Pacific Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.4.9.3. Rest of Asia Pacific Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.4.9.4. Rest of Asia Pacific Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
    • 9.5. Latin America
      • 9.5.1. Latin America Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
      • 9.5.2. Latin America Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.5.3. Latin America Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
      • 9.5.4. Latin America Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.5.5. Brazil
        • 9.5.5.1. Brazil Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.5.5.2. Brazil Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.5.3. Brazil Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.5.5.4. Brazil Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.5.6. Argentina
        • 9.5.6.1. Argentina Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.5.6.2. Argentina Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.6.3. Argentina Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.5.6.4. Argentina Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.5.7. Rest of Latin America
        • 9.5.7.1. Rest of Latin America Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.5.7.2. Rest of Latin America Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.5.7.3. Rest of Latin America Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.5.7.4. Rest of Latin America Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
    • 9.6. The Middle East and Africa
      • 9.6.1. The Middle East and Africa Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
      • 9.6.2. The Middle East and Africa Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
      • 9.6.3. The Middle East and Africa Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
      • 9.6.4. The Middle East and Africa Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.6.5. Saudi Arabia
        • 9.6.5.1. Saudi Arabia Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.6.5.2. Saudi Arabia Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.5.3. Saudi Arabia Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.6.5.4. Saudi Arabia Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.6.6. UAE
        • 9.6.6.1. UAE Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.6.6.2. UAE Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.6.3. UAE Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.6.6.4. UAE Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.6.7. South Africa
        • 9.6.7.1. South Africa Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.6.7.2. South Africa Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.7.3. South Africa Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.6.7.4. South Africa Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
      • 9.6.8. Rest of the Middle East and Africa
        • 9.6.8.1. Rest of the Middle East and Africa Air Conditioning Market Revenue, by Product, 2016-2025 (USD Billion)
        • 9.6.8.2. Rest of the Middle East and Africa Air Conditioning Market Revenue, by Component, 2016-2025 (USD Billion)
        • 9.6.8.3. Rest of the Middle East and Africa Air Conditioning Market Revenue, by Technology, 2016-2025 (USD Billion)
        • 9.6.8.4. Rest of the Middle East and Africa Air Conditioning Market Revenue, by End-User, 2016-2025 (USD Billion)
  •  
  • Chapter 10. Company Profile
    • 10.1. Midea Group
      • 10.1.1. Overview
      • 10.1.2. Financials
      • 10.1.3. Product portfolio
      • 10.1.4. Business strategy
      • 10.1.5. Recent developments
    • 10.2. Hisense Electric Co.
      • 10.2.1. Overview
      • 10.2.2. Financials
      • 10.2.3. Product portfolio
      • 10.2.4. Business strategy
      • 10.2.5. Recent developments
    • 10.3. Carrier Corporation
      • 10.3.1. Overview
      • 10.3.2. Financials
      • 10.3.3. Product portfolio
      • 10.3.4. Business strategy
      • 10.3.5. Recent developments
    • 10.4. Panasonic Corporation
      • 10.4.1. Overview
      • 10.4.2. Financials
      • 10.4.3. Product portfolio
      • 10.4.4. Business strategy
      • 10.4.5. Recent developments
    • 10.5. Hitachi Ltd.
      • 10.5.1. Overview
      • 10.5.2. Financials
      • 10.5.3. Product portfolio
      • 10.5.4. Business strategy
      • 10.5.5. Recent developments
    • 10.6. Samsung Electronics Ltd.
      • 10.6.1. Overview
      • 10.6.2. Financials
      • 10.6.3. Product portfolio
      • 10.6.4. Business strategy
      • 10.6.5. Recent developments
    • 10.7. LG Electronics Inc.
      • 10.7.1. Overview
      • 10.7.2. Financials
      • 10.7.3. Product portfolio
      • 10.7.4. Business strategy
      • 10.7.5. Recent developments
    • 10.8. Daikin Industries Ltd.
      • 10.8.1. Overview
      • 10.8.2. Financials
      • 10.8.3. Product portfolio
      • 10.8.4. Business strategy
      • 10.8.5. Recent developments
    • 10.9. Electrolux AB
      • 10.9.1. Overview
      • 10.9.2. Financials
      • 10.9.3. Product portfolio
      • 10.9.4. Business strategy
      • 10.9.5. Recent developments
    • 10.10. Sharp Corporation
      • 10.10.1. Overview
      • 10.10.2. Financials
      • 10.10.3. Product portfolio
      • 10.10.4. Business strategy
      • 10.10.5. Recent developments
    • 10.11. Mitsubishi Electric Corporation
      • 10.11.1. Overview
      • 10.11.2. Financials
      • 10.11.3. Product portfolio
      • 10.11.4. Business strategy
      • 10.11.5. Recent developments

Methodology

Free 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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