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Air Conditioners Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
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Air Conditioners Market
1. The global air conditioners market is forecast to grow at a CAGR of 5.6% during the period 2019-2024.
The global air conditioners market is forecast to grow at a CAGR of 56 during the period 20192024. The market is driven by the growing demand for air conditioners in the commercial and residential sectors. The commercial sector is expected to grow at the highest CAGR during the forecast period.

The air conditioners market is segmented by type, application, and geography. By type, the market is divided into room air conditioners, central air conditioners, and ductless air conditioners. The room air conditioners segment is expected to grow at the highest CAGR during the forecast period. By application, the market is classified into residential, commercial, and industrial. The commercial segment is expected to grow at the highest CAGR during the forecast period.

The air conditioners market is further segmented by geography into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the largest market share during the forecast period. The region is a key market for air conditioners due to the growing demand from the commercial and residential sectors.

The key players in the air conditioners market are Carrier Corporation, Daikin Industries, Ltd., LG Electronics, Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., and Haier Group. These players are increasingly focusing on expanding their product portfolios to cater to the growing demand for air conditioners.

2. The air conditioners market is driven by various factors such as the increasing construction activities, the rising disposable incomes, and the changing lifestyles.
The air conditioners market is driven by various factors such as the increasing construction activities, the rising disposable incomes, and the changing lifestyles. The construction activities are increasing due to the growing population and the need for more housing. The disposable incomes are rising due to the growing economies and the changing lifestyles. The changing lifestyles are resulting in the need for more air conditioners.

The air conditioners market is expected to grow at a CAGR of XX% during the forecast period (2020-2025).

The construction activities are the major drivers of the air conditioners market. The construction activities are growing due to the increasing population and the need for more housing. The air conditioners are used in the construction industry for the purpose of cooling the buildings. The air conditioners market is expected to grow significantly during the forecast period due to the increasing construction activities.

The disposable incomes are another major driver of the air conditioners market. The disposable incomes are growing due to the growing economies and the changing lifestyles. The air conditioners are becoming affordable for the middle-class and the upper-class people. The air conditioners market is expected to grow significantly during the forecast period due to the rising disposable incomes.

The changing lifestyles are the other major drivers of the air conditioners market. The changing lifestyles are resulting in the need for more air conditioners. The air conditioners are used in the residential and commercial sectors for the purpose of cooling the buildings. The air conditioners market is expected to grow significantly during the forecast period due to the changing lifestyles.

3. The air conditioners market is segmented by type, by application, and by geography.
The air conditioners market is segmented on the basis of type, by application and by geography. The types of air conditioners available in the market are window air conditioners, split air conditioners, central air conditioners, packaged air conditioners and others. The applications of air conditioners include residential, commercial, industrial and transportation. The market for air conditioners is further segmented on the basis of geography into North America, Europe, Asia Pacific, Middle East & Africa and South America.

The window air conditioners segment is estimated to grow at the highest CAGR during the forecast period. The split air conditioners segment is projected to grow at a significant CAGR, while the central air conditioners segment is projected to grow at a moderate CAGR during the forecast period. The packaged air conditioners segment is projected to grow at a lower CAGR during the forecast period.

The air conditioners market is driven by the growing construction industry, rising disposable incomes and the growth of the transportation sector. However, the high cost of air conditioners and the stringent government regulations are the major factors restraining the growth of the air conditioners market.

The North American air conditioners market is projected to grow at a significant CAGR during the forecast period. The European air conditioners market is projected to grow at a moderate CAGR, while the air conditioners market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. The air conditioners market in Middle East & Africa and South America is projected to grow at a lower CAGR during the forecast period.

The key players in the air conditioners market are Daikin Industries, Ltd. (Japan), LG Electronics Inc. (South Korea), Mitsubishi Electric Corporation (Japan), Panasonic Corporation (Japan), Samsung Electronics Co., Ltd. (South Korea), Carrier Corporation (U.S.), Haier Group Corporation (China), Gree Electric Appliances, Inc. of Zhuhai (China), Midea Group Co., Ltd. (China) and Whirlpool Corporation (U.S.).

4. The air conditioners market by type includes the split ACs, window ACs, portable ACs, and
The global air conditioners market is expected to grow at a CAGR of 6.5% from 2019 to 2024. The market is segmented by type, by end user, and by region.

The air conditioners market by type includes the split ACs, window ACs, portable ACs, and others. The split ACs segment is expected to grow at the highest CAGR during the forecast period. The window ACs segment is expected to grow at a moderate CAGR during the forecast period. The portable ACs segment is expected to grow at a slow CAGR during the forecast period.

The air conditioners market by end user includes the residential, commercial, and industrial. The residential segment is expected to grow at the highest CAGR during the forecast period. The commercial segment is expected to grow at a moderate CAGR during the forecast period. The industrial segment is expected to grow at a slow CAGR during the forecast period.

The air conditioners market by region includes North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to grow at the highest CAGR during the forecast period. Europe is expected to grow at a moderate CAGR during the forecast period. Asia Pacific is expected to grow at a slow CAGR during the forecast period. Latin America is expected to grow at a very slow CAGR during the forecast period. Middle East & Africa is expected to grow at a very slow CAGR during the forecast period.

The major players in the air conditioners market are LG Electronics (South Korea), Panasonic Corporation (Japan), Daikin Industries (Japan), Haier (China), Honeywell International (US), United Technologies (US), Electrolux (Sweden), Hisense (China), Midea (China), Samsung (South Korea), and Whirlpool (US).+

Key players covered:

The global air conditioner market includes key players such as O General, Haier, Hitachi, Blue star, Videocon, Whirlpool, LG, Daikin, Samsung, and Voltas.

The air conditioner market can be segmented by type, by application, by technology, by components, by distribution channel, and by geography.

By type, the air conditioner market can be segmented into room AC, ducted AC, ductless AC, centralized AC, and others. Room Ac segment is expected to hold the major share in the global air conditioner market. Windows air conditioner is the most widely used air conditioner for single rooms and is the leading segment for the air conditioner market. Increasing the requirements of the households to install a single room refrigeration system increases the demand for room air conditioners.

Based on application, the global air conditioner market is segmented into residential, commercial offices and retail, industrial and others. Residential segments are expected to account for the largest market for the air conditioner market. According to the International Monetary Fund (IMF), the global housing market is expected to rise to USD 1.1 Trillion as of 2022, this gives demand for the air conditioner market.

By technology, the air conditioner market is segmented based on semi-automatic or manual and automatic. The semi-automatic air conditioning is projected to dominate in developing countries such as India, China, and others because of consumer preference for lower-cost electronic products. On the other hand, the fully automatic air-conditioning is anticipated to hold the major share in the developed countries, because the higher income group of peoples prefer to use fully automatic air conditioners with new technology features embedded into it.

Based on distribution channels, the air conditioner market can be segmented into online retail, retail shops, direct sales, and distribution sales. The retail shops’ are expected to be the largest segment owing to a large number of organized retail shops globally. However, the online retail segment is expected to be the fastest-growing owing to the increasing global populations of internet users. For instance, in March 2018, online sales account 6%-7% out of the total sales of the air conditioners in India, and it will rise further with the increasing number of internet users. Companies also sell air-conditioned products by directly targeting the end-user instead of intermediate retail shops and online retail stores.

Segmentation

 

 ATTRIBUTE

 

 DETAILS
 

By Type

 

 

    • Room AC-Windows, split
    • Ducted AC- Ceiling Concealed, Rooftop Packaged
    • Ductless AC- cassette, Floor Standing, Ceiling Suspended
    • Centralized AC- Condensing Unit, VRF, AHU/FCV, Chillers  and Others
 

By Application

 

 

    • Residential
    • Commercial Offices and Retail
    • Industrial
 

By Technology

 

 

    • Manual
    • Automatic
 

By Distribution channel

 

 

    • Online Retail
    • Retail shops
    • Direct Sales
    • Distribution Sales
 

By Geography

 

 

    • North America
    • Europe
    • Asia Pacific
    • South America
    • Africa & Middle East
 

By Type

 

 

    • Room AC-Windows, split
    • Ducted AC- Ceiling Concealed, Rooftop Packaged
    • Ductless AC- cassette, Floor Standing, Ceiling Suspended
    • Centralized AC- Condensing Unit, VRF, AHU/FCV, Chillers  and Others
 

By Application

 

 

    • Residential
    • Commercial Offices and Retail
    • Industrial
 

By Technology

 

 

    • Manual
    • Automatic
 

By Distribution channel

 

 

    • Online Retail
    • Retail shops
    • Direct Sales
    • Distribution Sales

O General, Haier, Hitachi, Blue star, Videocon, Whirlpool, LG, Daikin, Samsung, and Voltas.

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