Asia-Pacific Air Conditioner (AC) Market Outlook, 2028

Asia-Pacific Air Conditioner (AC) Market Outlook, 2028

The expanding prevalence of a pleasant lifestyle is expected to cause the Asia Pacific Air Conditioner (AC) market to grow at an astounding rate. The industry is expanding significantly in the area, and it will continue to grow because the need for air conditioners will increase significantly in the next few years. Since it first began operating in the area, the sector has experienced expansion. The Asia Pacific Air Conditioner Market is growing due to a variety of key factors. Increases in population, disposable income, and urbanization are a few of the key reasons propelling business on the continent. The governments of Asian nations encourage the industry as well and develop numerous initiatives to expand the market in the region. These factors have been fueling the Asia-Pacific Air Conditioner (AC) market growth. The region is also expanding and becoming more modern and efficient due to local technological breakthroughs. With the aid of cutting-edge technology, the air conditioner market size in Asia Pacific is constantly expanding as business companies are now able to satisfy all of their customers' needs. Market players can support the sector's growth by satisfying the needs of their customers. The market is advancing smoothly because of the players' hard work and astute maneuvers. The need for inverters and energy-efficient air conditioners is being fueled by the growing concern over electricity use. Extremely hot and muggy weather is common throughout much of the Asia-Pacific region, especially during the summer. For this market, air conditioners are frequently built to tolerate high temperatures well and deliver dependable cooling even in difficult circumstances. Energy-efficient air conditioners are in great demand in Asia-Pacific due to rising concerns about energy use and environmental effects. In order to assist consumers in saving money on energy bills, manufacturers give priority to the development of systems with high SEER (Seasonal Energy Efficiency Ratio) ratings. High humidity is common in the Asia-Pacific region, which may make it uncomfortable. Advanced dehumidification functions are frequently included in air conditioners on the market to solve this issue and improve indoor comfort.

According to the research report, “Asia-Pacific Air Conditioner (AC) Market Outlook, 2028” published by Bonafide Research, the market is expected to grow at 7.30% CAGR from 2023 to 2028. A variety of air conditioning systems are produced primarily by the manufacturing industry, which includes both domestic and foreign producers. This industry constantly innovates to create technologically sophisticated, energy-efficient equipment that can accommodate the many climatic conditions found in the Asia-Pacific. The promotion of energy-efficient air conditioning systems is in the best interests of utility companies and energy suppliers. To encourage customers and companies to adopt more efficient HVAC systems and ease the burden on the electrical grid, they frequently offer incentives, rebates, and energy efficiency programs. The installation and upkeep of air conditioning systems require the use of HVAC contractors and installation services. They guarantee that units are appropriately sized, installed, and maintained, which improves the equipment's overall functionality and effectiveness. Air conditioning technology innovation is facilitated by R&D groups and institutions. They work to create novel materials, technologies, and design ideas that boost system performance across the board while also enhancing energy efficiency and indoor air quality. A/C systems are specified for and installed in projects by companies that specialize in residential and commercial construction. In order to adhere to contemporary building requirements and consumer expectations, they frequently give priority to energy-efficient and environmentally friendly HVAC solutions. In order to ensure effective distribution of air conditioners over broad and different geographic areas in Asia-Pacific, the logistics and supply chain business is essential. Air conditioning systems are extensively used in the tourism and hospitality sectors, particularly in hotels, resorts, and commercial buildings. The comfort and experience of visitors can be greatly influenced by the quality of the air conditioning. Some of the world's biggest and fastest-growing megacities are found in the Asia-Pacific. Air conditioning is becoming more and more necessary in densely populated urban areas as urbanization progresses, both for home and commercial uses.

Based on report market is divided into five major countries China, Japan, India, Australia and South Korea. Among the China is dominating the market of Asia-Pacific.

As a result of the country's burgeoning population, rising disposable income, accessible product options, technological advancements, and expanding commercial space, the air conditioner market in China is significantly expanding. The expanded product availability on e-commerce platforms and the straightforward financing options are expected to promote the adoption of air conditioners among lower- and middle-income households. The construction of buildings with integrated air conditioners and energy-efficient architecture is another factor that is projected to increase demand for air conditioners in China. China is one of the largest and busiest air conditioner marketplaces in the world, and the country is well known for its massive population and diverse environment. The largest and most renowned air conditioner manufacturers in the world are based in China. In both domestic and international markets, local giants like Gree, Haier, Midea, and TCL have carved out a significant position. Additionally, aggressive competitors in the Chinese market include foreign companies like Daikin, Mitsubishi Electric, and Panasonic. China's climate is diverse, ranging from the stifling summers of southern provinces like Guangdong to the chilly winters of northeastern regions like Heilongjiang. With such a vast range of climates, it is necessary to have both cooling and heating choices for air conditioning.
In terms of product type market is divided into window AC, portable AC, ductless multi split AC, packaged AC, floor mounted AC, central AC, variable refrigerant AC and others. Among them portable AC is expected to grow at fastest rate in Asia-Pacific.
The predicted increase in portable air conditioners is mostly due to their adaptability and portability. These devices are made to be readily moved from one space to another, delivering on-demand cooling where it is most needed. Portable air conditioners provide a versatile option that can adjust to fluctuating cooling needs in Asia-Pacific, where the climate can fluctuate dramatically across different locations and even inside the same home. The market for renting out residential and business space is thriving in several parts of Asia-Pacific. Renters find portable air conditioners to be particularly appealing because they are simple to install and remove without requiring substantial changes to the home. This has increased demand for portable air conditioners, particularly in cities where people move around a lot. Living quarters in Asia-Pacific cities might be cramped and devoid of the necessary infrastructure for conventional HVAC systems. Compact and easy to install, portable air conditioners are a sensible option for apartments, small offices, and other constrained locations. Technology improvements like digital controls, remote operation, and smart connectivity are advantageous for portable AC units. Due to the tech-savvy nature of Asian consumers, the availability of these capabilities improves ease and the user experience. For temporary and short-term cooling requirements, such as those at events, building sites, and outdoor locations, portable air conditioners are also in demand. The Asia-Pacific area holds a lot of events and activities all year long, which opens up prospects for renting and using portable air conditioners.

Based on end user market is divided into residential, commercial and industrial. Furthermore based on tonnage market is segmented into pto 2 ton, 2 ton to 5 ton, 5 ton to 10 ton, and more than 10 ton.

In recent years, the Asia-Pacific area has undergone rapid economic growth, which has resulted in a surge in commercial activities such as office space, retail malls, hotels, and restaurants. Air conditioning systems are required in these commercial spaces to give comfort to consumers and employees, which promote the demand for air conditioners. The Asia-Pacific region is seeing substantial urbanization trends, with more people migrating from rural to urban areas. Urbanization necessitates the construction of commercial buildings, which necessitate the installation of air conditioning systems in order to maintain suitable indoor conditions. Rising disposable incomes in Asia-Pacific have increased consumer expenditure on services and amenities. This includes spending on leisure activities such as dining out, shopping, and entertainment, all of which necessitate the use of air conditioning. Commercial enterprises in the Asia-Pacific area, including office buildings, hotels, shopping malls, and restaurants, frequently have larger indoor spaces that necessitate higher cooling capabilities. A 2- to 5-ton air conditioner is better suited to effectively and efficiently cooling larger regions. The Asia-Pacific region has a diverse climate, ranging from extremely hot and humid in some parts to mild in others. Larger-capacity air conditioners are required in hot and humid climates to offer adequate cooling and comfort. HVAC technology advancements have resulted in the creation of high-efficiency air conditioning systems capable of successfully cooling larger spaces while consuming less energy. These systems are typically in the 2- to 5-ton range.

Based on technology market divided invertor ACs and non-invertor ACs. Based on distribution channel market is segmented into multi brand stores, exclusive stores, online and others.

Energy efficiency is a primary issue for consumers and businesses in the Asia-Pacific area, owing to growing energy costs and increased environmental consciousness. Inverter air conditioners are noted for being more energy efficient than typical fixed-speed air conditioners. They alter their compressor speed to match the cooling or heating demand, resulting in significant energy savings. As energy prices climb and governments impose energy-efficiency standards, inverter air conditioners become a more appealing option. As consumers become more aware of the benefits of inverter air conditioners, they are increasingly choosing these systems over standard air conditioners when making purchasing selections. Internet adoption and smartphone usage have increased significantly in the Asia-Pacific area. Online shopping becomes more accessible and convenient as more individuals acquire access to the internet. Consumers can now explore, compare, and buy air conditioners online thanks to the presence of major e-commerce platforms and marketplaces such as Alibaba, JD.com, Amazon, Lazada, Shopee, and Flipkart. These platforms provide a diverse range of products, including air conditioners, with simple interfaces and a variety of payment alternatives. Online shopping is convenient since customers can explore and buy from the comfort of their own homes or offices. This is especially enticing when acquiring large, heavy equipment such as air conditioners.

Companies Covered in this report:

Samsung Electronics, Panasonic Holdings Corporation, Haier Group Corporation, Whirlpool Corporation, Havells India Limited, Daikin Industries, Ltd, LG Corporation, Electrolux AB, Robert Bosch GmbH, Carrier Global Corporation, Rheem Manufacturing Company, Johnson Controls Hitachi AC Limited, Gree Electric Appliances Inc, Voltas Limited, Midea Group, Fujitsu General Limited, Trane Technologies plc, Sharp Corporation, Blue Star Ltd.

Considered in this report:

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Asia-Pacific Air Conditioner (AC) market Outlook with its value and forecast along with its segments
• Country-wise Air Conditioner (AC) market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Product Type:

• Window AC
• Portable AC
• Ductless Multi Split AC
• Packaged AC
• Floor Mounted AC
• Central AC
• Variable Refrigerant AC
• Others

By End User:

• Residential
• Commercial
• Industrial

By Tonnage:

• Up to 2 Ton
• 2 Ton to 5 Ton
• 5 Ton to 10 Ton
• More Than 10 Ton

By Technology:

• Inverter ACs
• Non-Inverter ACs

By Distribution Channel:

• Multi-brand Stores
• Exclusive Stores
• Online
• Other Channels

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Air Conditioner (AC) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


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