- Report ID: BMRC 897 | Number of pages: 200 | Publish Date: Feb 2020
Status: Published | Category: Consumer Goods | Delivery Timeline:
Air Conditioning Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Air Conditioning Market place for the forecast 2020– 2025
The increasing number of hotels, hospitals, auditoriums, individual clinics, and multiplexes all over the globe is predicted to power the market growth for air conditioning in the coming future.
A system that conditions air is dubbed as air conditioning. In automobile, air conditioners are employed for heating, cooling, and filtration. The system also lowers moisture and humidity from air. Moreover, fresh and clean air with low humidity assists drivers stop drowsiness. Now, the market is crowded with air conditioners that offer maximum comfort to passengers and are eco-friendly. Technical advancements along with the requirement to lower emissions of carbon dioxide show new pathways for air conditioning systems in automobiles.
The type section has been divided into rooftop, unitary, and PTAC (Packaged Terminal Air Conditioner). The unitary section had the biggest market share. Unitary air conditioners are mainly employed in households. Hence, the ever-increasing development of the residential section is expected to carry on driving the requirement for unitary air conditioners globally.
The technology section has been divided into non-inverter and inverter. The inverter segment had the biggest market share and is predicted to develop at a significant speed over the coming period. The increasing awareness about the requirement to adopt energy-efficient air conditioning systems and the capability of inverter air conditioners to substitute conventional air conditioners is predicted to positively affect the growth prospects of the section. Moreover, different benefits such as ability to operate at variable speeds, cost-effectiveness, and ability to adjust tonnage based on heat load are also powering the development prospects of the segment.
The major players included in the global air conditioning market forecast are,
By Type :Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers, Others
By End User: Residential, Commercial, Industrial, Automotive
By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Others
Promising Growth Of The Tourism And Construction Industries To Power Growth In The Market
The increasing number of hotels, hospitals, auditoriums, individual clinics, and multiplexes all over the globe is predicted to power the market growth for air conditioning in the coming future. For example, the government of Oman is spending in different construction projects, resulting in an elevated requirement for air conditioning systems. Also, the 2017 multi-billion dollar Omagine Pearl Project, which is projected to feature 7 pearl-shaped buildings hosting malls, amphitheaters, hotels, and other residential and commercial buildings in Seeb, Oman, is expected to lead to an elevated requirement for air conditioning systems.
The market is also predicted to be boosted by factors such as the promising growth of the tourism and construction industries. The increasing disposable revenues of people all over the globe are also predicted to power the uptake of a series of air conditioning systems over the coming period. Moreover, the growing popularity of portable systems and increasing preference of users towards energy-efficient systems are also predicted to positively affect the air conditioning systems market development.
Asia Pacific Is Predicted To Surface As The Quickest-Developing Regional Market
Asia Pacific is predicted to surface as the quickest-developing regional market. The region had a significant share of more than 50% in terms of income and is predicted to increase further. This is credited to the increasing usage of air conditioners in emerging nations such as India and China. In addition to this, the market is predicted to see intense competition amongst players in China due to the accessibility of low-priced air conditioning systems.
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
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Air Conditioning Market 2020 By Type ( Room/Unitary Air Conditioners, Chillers, VRF Systems, Coolers), By End User (Residential, Commercial, Industrial, Automotive), By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online) 2025