Global Air Conditioners Market: by Type (Room Air Conditioners, VRF Systems, Coolers, Chillers, and Others), by Distribution Channel (Online, Multi-brand Stores, Exclusive Stores, and Others), by End-User (Residential, Industrial, and Commercial), and by Region–Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021-2027)
The air conditioners market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report’s study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the air conditioners market.
Air Conditioners Industry Outlook
The air conditioners market size is USD 107 billion in 2020 and is expected to register a 7.2% CAGR during the forecast period, 2021-2027. Air conditioning removes heat and moisture from an indoor occupied space by evaporation and condensation. Air conditioners use components that include a chiller, dehumidifiers, condensing units, condenser, transducers, dampers, evaporator coils, and actuators to provide a comfortable indoor environment. Technological innovations are the disrupting trend in the air conditioners market.
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Air Conditioners Industry Dynamics
The increasing number of hotels, auditoriums, hospitals, clinics, and multiplexes worldwide is expected to boost the market growth for air conditioners in the upcoming years. For illustration, the Oman government invests in many construction projects, leading to an increased demand for air conditioning systems. The growing urban population, projected to boost the residential and commercial construction sectors, is also expected to increase the demand for air conditioning systems. Additionally, the growing population in hot climate countries is predicted to contribute to considerable growth in the air conditioners market. Greenhouse gas emissions and increasing concern towards environmental safety are some major factors hampering the growth of the global air conditioners market over the forecast period.
Impact of COVID-19 on Air Conditioners Market
The outbreak of the COVID-19 pandemic has considerably affected the global air conditioners market. The industry witnessing the wide decrease in demand and production and impacting supply chain are affecting the global industry for a longer duration.
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Scope of the Report
The report outlines the global air conditioners market study based on distribution channel, type, and end-user.
Based on the distribution channel, the air conditioners market has been segmented into –
- Multi-brand Stores
- Exclusive Stores
Based on the type, the air conditioners market has been segmented into –
- Room Air Conditioners
- VRF Systems
Based on the end-user, the air conditioners market has been segmented into –
Air Conditioners Market: Regional Outlook
The global air conditioners market is regionally categorized into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The Asia Pacific is estimated to hold the largest market share in the global air conditioners market due to the increasing usage of HVAC systems in the emerging market, including India and China. Rapid infrastructure development and increasing inclination towards lifestyle products throughout the region also support the growth of the air conditioners market. Moreover, North America is expected to project a healthy CAGR in the global air conditioners market during the forecast period.
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Air Conditioners Market Key Competitors Includes –
The global air conditioners market is highly fragmented, with a large number of small players across the globe. The vital air conditioners manufacturers operating in the global market are –
- Haier Group Corporation
- LG Electronics Inc.
- Daikin Industries Ltd.
- United Technologies Corporation
- Hitachi-Johnson Controls Air Conditioners Inc.
- Carrier Corporation
- Mitsubishi Electric Corporation
- Mahle GmbH
- Denson Corporation
- Calsonic Kansei Corporation
- Sanden Holdings Corporation
- Eberspaecher Holding GmbH & Co.
- Valeo SA
- Keihin Corporation
- Subros Limited
The air conditioners market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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