The air conditioning (AC) systems are used for maintaining comfortable body-friendly temperature indoors. According to The Japan Refrigeration and Air conditioning Industry Association, the global AC demands reached 110.56 million units with a CAGR of 8.1% in FY 2017. China held the biggest air conditioner market share growing at the remarkable CAGR of 13.2% in the world and is still leading the pack in global air conditioner demands. Furthermore, air conditioning is a part of the heating, ventilating and air conditioning (HVAC) market. The global HVAC market was valued at $156.33 billion in the year 2017 and is expected to surpass $242.59 billion by 2023 at a positive CAGR of 7.6%. The increasing disposable income in developing nations has accelerated the growth in the air conditioning market.
Air conditioning is the process of eradicating heat and moisture from an indoor occupied space. To provide a comfortable indoor environment, an air conditioner uses components such as dehumidifiers, condenser, chiller, evaporators, condensing units, transducers, actuators, dampers, and evaporator coils.
The information is based on a recent business intelligence report from Industry ARC, titled “Air conditioning market: by product type (unitary, split, others), by design, by mount type (windowed, standalone, rooftop, others), by capacity, by energy rating, by component, by end use (residential, commercial, industrial,); by geography – forecast (2018 – 2023).” The report suggests that the air conditioner market size is expected to continue generating high revenues for air conditioner manufacturers in the forecast period.
Air Conditioning Market Trends
The global air conditioner market is flourishing owing to the increasing global temperature around the world. On the other hand, this market faces challenges related to environment-related issues. Innovations in the manufacturing of air conditioners are anticipated to contribute to the exponential growth in the global air conditioner market.
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What can you expect from the report?The air conditioning market is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 2. Market trends & Relevant Market Data 3. Manufacturer Landscape 4. Distributor Landscape 5. Pricing Analysis 6. Top 10 End-user Analysis 7. Product Benchmarking 8. Product Developments 9. Mergers & Acquisition Analysis 10. Patent Analysis 11. Demand Analysis (Revenue & Volume)12. Country-level Analysis13. Competitor Analysis14. Market Shares Analysis15. Value Chain Analysis16. Supply Chain Analysis17. Strategic Analysis18. Current & Future Market Landscape Analysis19. Opportunity Analysis20. Revenue and Volume Analysis
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