Global Air Conditioning (AC) Market 2024-2028
The air conditioning (AC) market is forecasted to grow by USD 14.8 bn during 2023-2028, accelerating at a CAGR of 2.15% during the forecast period. The report on the air conditioning (AC) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in residential construction activity, product innovation leading to portfolio extension and product premiumization, and increasing demand for inverter air conditioners.
Technavio's air conditioning (AC) market is segmented as below:
By Product
- Splits
- Chillers
- Airside
- Others
By Distribution Channel
By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the increase in use of R32 refrigerant in split ACs as one of the prime reasons driving the air conditioning (AC) market growth during the next few years. Also, increased adoption of omnichannel distribution and multichannel marketing and introduction of smart hybrid air conditioners will lead to sizable demand in the market.
The report on the air conditioning (AC) market covers the following areas:
- Air conditioning (AC) market sizing
- Air conditioning (AC) market forecast
- Air conditioning (AC) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading air conditioning (AC) market vendors that include Blue Star Ltd., Daikin Industries Ltd., DeLonghi Group, Electrolux group, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies Plc, Transform Holdco LLC, Toshiba Corp., Voltas Ltd., and Whirlpool Corp.. Also, the air conditioning (AC) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.