Global Air Conditioners Market to be Valued USD138.03 Billion by 2026F
Increasing GDP per capita income, rapid urbanization, technological
advancements, is expected to drive the growth of the global air conditioners market.
According
to TechSci Research report, “Global
Air Conditioners Market By Product Type (Chillers,
VRFs, Ductable Splits, Light Commercial Air Conditioners and Others), By Light
Commercial Air Conditioners (High Wall Splits, Window Air Conditioners,
Cassettes and Concealed Ductable Splits), By Region, Competition, Forecast
Opportunities, 2026F”,
the global air conditioners market is expected to reach USD138.03 billion by
2026F with a CAGR of 4.42% during forecast period. During the forecast period,
sales of air conditioners are expected to increase due to a booming
construction sector, rising disposable income, a growing real estate sector,
and rising industrialization around the world. Governments in various countries
are introducing various construction projects with the goal of improving
infrastructure, which is expected to have a positive impact on global air conditioners
market over the next five years. Temperatures are rising all over the
world as a result of global warming, increasing demand for air conditioners.
The primary driver of the global air conditioners market's growth is changing
climatic conditions. Furthermore,
the majority of emerging countries, which frequently experience rapid economic
growth, are located partially (e.g., China or India, or coastal areas in
Central and South America) or entirely (South-East Asia, Sub-Saharan Africa) in
tropical areas. Their
demand for air cooling is constantly increasing in order to improve consumer
comfort. The National Oceanic and Atmospheric Administration (NOAA) reported
that 2020 was the second-warmest year after 2016. This year-on-year increase in
temperature thus aids the global growth of the air conditioners market.
In 2020, air-conditioning components were
in short supply due to a disruption in the supply chain, as China has
completely shut down their manufacturing production, and every industry player
around the world is connected to China in some way for the supply of equipment.
Wuhan, Hubei Province, is the epicenter of the COVID-19 outbreak in central
China, and it serves as a hub for US, European, and Japanese electronic suppliers.
The global air conditioners market is
segmented into by product type, by light commercial air conditioners, by region
and by company. In terms of product type, the market can be segregated into Chillers,
VRFs, Ductable Splits, Light Commercial Air Conditioners and Others. Out of these,
light commercial air conditioners market had registered highest market share of
around more than 75% among all air conditioners products followed by chillers
in 2020, whereas VRFs are the fastest growing segment in the air conditioners
market.
In
terms of light commercial air conditioners market, high wall splits have accounted
for the majority of market share in the global air conditioners market followed
by windows, owing to their various advantages such as energy efficiency, lower
running cost, easy availability and integration of latest technologies.
Inverter-based split air conditioners are an emerging technology and is
expected to gain popularity in the coming years on account of high level of
energy efficiency and lower running cost.
Browse
159 Figures spread through 160 Pages and an
in-depth TOC on " Global Air Conditioners Market"
https://www.techsciresearch.com/report/air-conditioners-market/14346.html
In
terms of regional analysis, the global air conditioners market is segment into
Asia-Pacific, Europe, North America, South America and Middle East & Africa.
Among these, the Asia-Pacific region is dominating the global air conditioners market
followed by North America in 2020. Air
conditioners are in high demand in countries with large populations, such as
China, Japan, and India. Changing climatic conditions, combined with a growing
consumer preference for lifestyle-oriented products, have fueled the growth of
the Asia-Pacific air conditioners market over the years. In 2020, North America
became the world's second largest market for air conditioners. Growth in air
conditioner demand in North America can be attributed to an increasing
population base, rising consumer purchasing power, growing urbanization, and a
growing preference for lifestyle-oriented products.
In
terms of company, major
players operating in global air conditioners market include Daikin Industries, Ltd., Gree Electric Appliances Inc.,
Carrier Global Corporation, Midea Group Co., Ltd., Samsung Electronics Co.,
Ltd. and others. Among which Daikin Industries, Ltd., have accounted the
majority of market share in 2020 in the global air conditioners market. Leading
players are focusing on expanding their product portfolios to maintain
sustainable growth in the market. The companies are also expanding their
distribution reach across various countries and surge in the distribution of air
conditioners in the market.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=14346
Customers can also request for 10% free customization on this report.
“The global air conditioners market is anticipated
to register healthy growth during forecast period. Factors such as rapid
economic development of emerging economies, growing demand for energy efficient
air conditioners across the globe, growing smart home market, easy financing
& emergence of new payment modes, solar hybrid air conditioners are booming
the demand of air conditioners market globally”.
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Global Air Conditioners Market By
Product Type (Chillers, VRFs, Ductable Splits, Light Commercial Air
Conditioners and Others), By Light Commercial Air Conditioners (High Wall
Splits, Window Air Conditioners, Cassettes and Concealed Ductable Splits), By
Region, Competition, Forecast Opportunities, 2026F”, has evaluated the future growth
potential of air conditioners in global market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the global air conditioners market.
About TechSci Research
TechSci Research is a leading global market research firm publishing
premium market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research-based
consulting assignments in high growth and emerging markets, leading
technologies, and niche applications. Our workforce of more than 100 full-time
Analysts and Consultants employing innovative research solutions and tracking
global and country-specific high growth markets helps TechSci clients to lead
rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New
York – 10017
Tel: +1-646-360-1656
Email:
[email protected]
Web:
https://www.techsciresearch.com/