Global air conditioners market is expected to reach USD138.03 billion by 2026F growing at an CAGR of 4.42% during the forecast period. The global air conditioners market is mainly driven by booming construction sector, increasing replacement market, energy efficiency regulations and increasing technological advancements. Air conditioners are electrical appliances used to control humidity, ventilation, and temperature of a particular area. Based on product type, air conditioners can be segregated into chillers, VRFs, ductable splits, light commercial air conditioners and others.
Due to the spread of novel coronavirus, health of every individual got affected and this pandemic has brought the debate on indoor air quality across the globe. Downfall in the hospitality sector along with low construction activities of hotels, restaurants, and guest houses has led to a sales decline of air conditioners across the globe, however, the market is projected to bounce back and register sales in 2021.
The global air conditioners market is segmented into product type, light commercial air conditioners market, region and company. In terms of product type, the global air conditioners market is segmented into Chillers, VRFs, Ductable Splits, Light Commercial Air Conditioners and Others. Out of these, light commercial air conditioners market has dominated the market with more than 75% market share in global air conditioners market in 2020
Regionally, Asia-Pacific dominated the global air conditioners market in 2020 and is the leading market, followed by North America on account of growing middle class population base, rising temperatures due to climate change, growing commercial sector and increasing purchasing power of consumers. Moreover, increasing commercial, and residential construction activities in various APAC countries, especially India and China along with inclination of consumers towards lifestyle products is forecast to drive the APAC air conditioners market during 2024-2032F.
Some of the leading players in the global air conditioners market are Daikin Industries, Ltd., Gree Electric Appliances Inc., Carrier Global Corporation, Midea Group Co., Ltd., Samsung Electronics Co., Ltd. and others.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021E
Forecast Period2022F-2026F
Objective of the Study
- To analyze the historical growth in the market size of the global air conditioners market from 2016 to 2020.
- To estimate and forecast the market size of the global air conditioners market from 2021E to 2026F and growth rate until 2026F.
- To define, classify and forecast the global air conditioners market based on product type, light commercial air conditioners, region and company.
- To identify the dominant region or segment in the global air conditioners market.
- To identify drivers and challenges for the global air conditioners market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc. in the global air conditioners market.
- To identify and analyze the profile of leading players operating in the global air conditioners market.
Click here to download the sample
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe in air conditioners market.
TechSci Research calculated the market size of the global
Key Target Audience
·
·
·
·
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
