Global Air Conditioning Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz, in its upcoming report titled, “Global Air Conditioning Systems Market Trends, Applications, Analysis, Growth, and Forecast to 2027”, offers in-depth insights, revenue details, and other vital information regarding the global air conditioning systems market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global air conditioning market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global market report has been segmented on the basis of Ac type, duct type, technology, application, and region. The global air conditioning systems market was valued at US$ XX.X billion in 2016, and is expected to reach US$ XX.X billion over the forecast period at a high double-digit CAGR of XX.X%.
Air-conditioning entails conditioning and distributing air to a required space. Air conditioners (ACs) or cooling or heating systems enable controlling and monitoring of temperature, humidity, and air movement in a specific space. Improving economic conditions in developing countries, increasing urbanization, and rising per capita income are primary factors driving growth of the global air conditioning systems market. Increasing usage of AC systems in residential and commercial sectors, especially in Asia Pacific, is driving growth of the global air conditioning systems market.
In addition, increasing and decreasing global temperatures, smog, pollution, and vehicle fumes are other factors driving demand for air conditioning systems globally. As these conditions become more widespread and prominent, demand for ACs is expected to witness high double-digit over the next five years. Demand for air conditioning systems in desert regions of the Middle East and Africa is expected to increase significantly during the middle of the forecast period owing to need to rebuild various cities and towns in countries that have been destroyed by civil wars and terrorism.
Adoption of commercial air conditioning systems in the hospitality and tourism sector, in malls, theaters, cruise liners, hospitals and other healthcare facilities, and other sectors is contributing significantly to growth of the global air conditioning systems market.
Some major factors restraining growth of the global air conditioning systems market include high initial costs of system and installation, and also soaring prices of electric energy. In addition, strict government regulations on energy consumption, global warming, and pollution are further expected to hamper growth of the global air conditioning systems market over the forecast period.
A recent trend in the global air conditioning systems market is rising adoption of centralized air condition systems in commercial, government, and residential buildings in developed and developing countries.
Asia Pacific is estimated to register high growth in terms of revenue during the forecast period owing to increasing urbanization and infrastructure development, and growth in the construction and automotive sectors. Europe however, is expected to register moderate growth during the forecast period. Among the other regions, the air conditioning systems market in North America is also projected to witness significant growth due to initiatives to promote adoption of energy-efficient systems and equipment during the forecast period.
Global air conditioning systems segmentation by AC type:
- Indoor Packaged
Global air conditioning systems segmentation by duct type:
Global air conditioning systems segmentation by technology:
- Manual/ semi-automatic
Global air conditioning systems segmentation by application:
- Automotive air conditioning
- Commercial air conditioning
- Industrial air conditioning
- Residential air conditioning
Global air conditioning systems segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Daikin industries Ltd.
- Hitachi Ltd.
- Blue Star
- Carrier Corporation
- Haier Group Corporation
- Whirlpool Corporation
- Voltas Ltd.
- LG Corporation
- Samsung Electronics Corp.
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