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Air Conditioning Systems Market Growth Factor Is Increasing Usage of AC Systems In Residential And Commercial Sectors

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 market 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 Market Segmentation:

Global air conditioning systems segmentation by AC type:

Split
Rooftop
Indoor Packaged
Chillers

Global air conditioning systems segmentation by duct type:

Ducted
Ductless

Global air conditioning systems segmentation by technology:

Manual/ semi-automatic
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:

Europe
North America
Asia Pacific
Latin America
Middle East & Africa

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Key Players:

Daikin industries Ltd.
Hitachi Ltd.
Blue Star
Carrier Corporation
Haier Group Corporation
Whirlpool Corporation
Voltas Ltd.
LG Corporation
Samsung Electronics Corp.


Updated : 2021-11-30 06:28 GMT+08:00