The global air conditioning market size was USD 129.38 billion in 2021 and is expected to register a revenue CAGR of 5.9% during the forecast period, according to the latest analysis by Emergen Research. Market revenue growth is primarily driven by factors such as residential and business sectors rapidly using air conditioning systems as a result of fast urbanization and growing global warming caused by population development. Consumer preference for efficient and pleasant air conditioning systems is driving manufacturers to continuously develop technologically green energy-based air conditioning systems. As the primary cause of global warming is release of dangerous chemicals into atmosphere such as Chlorofluorocarbons (CFC) and Hydro-Chlorofluorocarbons (HCFC), which has an adverse effect on ecosystem and causes ozone layer thinning. In addition, increasing demand for portable and energy-efficient air conditioning systems is driving market revenue growth.
Emerging countries economic development and world’s temperature increase are significant factors driving global air conditioning market revenue growth.
Apart from this, demand for energy-efficient air conditioning systems with high-quality air filters has grown as a result of strict government rules addressing environmental degradation, which is driving market revenue growth. By upgrading air filters, AC systems can have a longer lifespan. Consumers are increasingly using HVAC filters owing to high expense of entire system and need to make sure that it lasts the entire expected lifespan. For instance, on 22 February 2019, the Super-Efficient Air Conditioning program was launched by Energy Efficiency Services Limited (EESL), which is administratively under Ministry of Power, Government of India, with a goal of promoting use of energy-efficient technologies and reducing energy consumption. The Indian Ministry of Power also wants to address India’s Cooling Action Plan and Hydro Chlorofluorocarbons Phase-out Management Plan by 2032. However, development of the worldwide air conditioner market is severely constrained by a number of adverse elements including noise, water management, accommodations, portability, and pricing.
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All key information has been demonstrated via tables, graphs, charts, and images to give business players a comprehensive understanding of the Air Conditioning market. The Global Air Conditioning Industry report assesses the performance of industry players across the globe, the expansion strategy adopted by the, their business initiatives, and SWOT analysis have been included in this study.
Scope Of The Report:
The study covers different market aspects right from growth prospects to the competitive landscape between leading players, cost and profit of the geographies included in the report. This offers the reader a holistic overview of existing competition in the sector. Several leading participants in the Air Conditioning market have been profiled in the report with all relevant details in a well-structured segment. The report also examines the significant development areas, project launches, business overview, product/service specification, Porter’s five forces analysis, investment opportunities, revenue generation, and emergent trends.
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The major companies studied in the report are:
Daikin Industries, Ltd., Emerson Electric Co., Midea Group, Johnson Controls–Hitachi Air Conditioning, Carrier, LG Electronics, Panasonic Holdings Corporation, Toshiba Corporation, Haier Group, Samsung, and Mitsubishi Electric Corporation.
They also focus on the presence of prominent Air Conditioning industry players in regional markets and the strategies adopted by them to yield sustainable growth in the forecast years. The primary aim of this study is to offer a bird’s eye view of the market dynamics, assessment of historical data, trends observed, current market value and volume, Porter’s five forces analysis, examination of the upstream and downstream industries, latest technological developments, cost analysis, and the regulatory framework effective in the sector by relying on robust research methodologies.
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Billion 2019-2030)
- Celling/ Central-mounted
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
The study provides a wide-ranging investigation on the Air Conditioning market in the leading regions. With the analysis of the global Air Conditioning market, the analysts attempt to highlight the growth prospects that market players are attempting to dominate different regional markets. Our team accurately predicts the market share, CAGR, production capacity, rate of consumption, cost, revenue, and other critical aspect that will influence the rise of regional markets studied in this report.
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Table of Contents:
Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.
Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and global market size. It also covers market share and growth rate by regions.
Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.
Breakdown by Product and Application: This section provides details about market size by product and application.
Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.
Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.
Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.
Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.
On a concluding note, the report offers a panoramic view of the Air Conditioning market on both the global and regional levels. It is inclusive of key statistical data and industry-verified facts and thoroughly evaluate the size, share, and market volume of the Air Conditioning industry to forecast the same over 2020-2028.
Key Questions Answered
What is the impact of COVID-19 on the global Air Conditioning Market?
What are the top strategies that companies adopting in Air Conditioning Market?
What are the challenges faced by SME’s and prominent vendors in Air Conditioning Market?
Which region has the highest investments in Air Conditioning Market?
What are the latest research and activities in Air Conditioning Market?
Who are the prominent players in Air Conditioning Market?
What is the potential of the Air Conditioning Market?
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