Solar Air Conditioning Market - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Solar Air Conditioning Market - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

The adoption of solar air conditioning systems is increasing significantly as these systems offer several benefits such as low operational cost and low maintenance over conventional air conditioning systems. Air conditioning in any organization accounts for 30-35% of electricity usage, which has led to increasing preference for solar air conditioning systems in various organizations to reduce electricity cost. Use of Solar air-conditioning is a way to reduce the demand for electricity. Nowadays constructions of many solar air-conditioning systems today are built in such a way that CFC, HCFC or HFC refrigerants are not used to reduce the emissions of carbon, sulphur, and nitrogen dioxide. Therefore will result in increase in demand for solar air conditioning system.
Market Dynamics
The demand for solar air conditioning systems is increasing due to growing population and disposable income. For instance according to 2021 United Nations report, world’s population is expected to reach 8.6 billion in 2030 from 7.6 billion in 2021. Solar air conditioning system uses renewable energy source and produces very few greenhouse gases, which is expected to reduce harmful carbon emissions. Use of solar energy also reduces demand for electric grids that rely on fossils fuels. These factors are expected to boost growth of the solar air conditioning market over the forecast period. Rise of electricity rates and the need to reduce energy consumption, has indirectly boosted a steady increase in the demand for and use of solar air conditioning system.
However, high initial cost to setup solar air conditioning system, which include installation of high cost batteries and solar panels, serves as a major restraining factor for growth of the market.
Key features of the study:
This report provides in-depth analysis of the solar air conditioning market size (US$ Billion), and Compound Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key market players
It profiles key players in the global solar air conditioning market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, solar air conditioning market capital, key developments, strategies, and future plans
Companies covered as part of this study include, Lennox, Videocon, Harvest Air Conditioner, HotSpot Energy Inc., Aussie Solar World, Solair World International, Icesolair, Gree, Midea Group Onyx Solar ac, and others
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
The global solar air conditioning market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar air conditioning market
Detailed Segmentation
Global Solar Air Conditioning Market, By Power Source:
Hybrid Solar A/C
100% Grid off A/C
Global Solar Air Conditioning Market, By Product Type:
Split Solar A/C
Window Solar A/C
Cassette Solar A/C
Floor Standing Solar A/C
Global Solar Air Conditioning Market, By Capacity:
1 Ton
1.5 Ton
2 Ton and Above
Global Solar Air Conditioning Market, By End User:
Residential
Commercial
Industrial
Global Solar Air Conditioning Market, By Geography:
North America
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 U.S.
 Canada
Europe
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 Germany
 UK
 France
 Italy
 Spain
 Russia
 Rest of Europe
Asia Pacific
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 China
 India
 Japan
 Australia
 South Korea
 ASEAN
 Rest of Asia Pacific
Latin America
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 Brazil
 Mexico
 Rest of Latin America
Middle East
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 GCC
 Israel
 Rest of Middle East
Africa
By Power Source:
 Hybrid Solar A/C
 100% Grid off A/C
By Product Type:
 Split Solar A/C
 Window Solar A/C
 Cassette Solar A/C
 Floor Standing Solar A/C
By Capacity:
 1 Ton
 1.5 Ton
 2 Ton and Above
By End User:
 Residential
 Commercial
 Industrial
By Country:
 North Africa
 Central Africa
 South Africa
Company Profiles
Lennox
 Company Overview
 Product Portfolio
 Financial Performance
 Key Strategies
 Recent Developments/ Updates
Videocon
Harvest Air Conditioner
HotSpot Energy Inc.
Aussie Solar World
Solair World International
Icesolair
Gree
Midea Group
Onyx Solar ac
“*” marked represents similar segmentation in other categories in the respective section.