Global Air Conditioning Market
The GMI Research forecasts that the Air Conditioning Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising popularity of smart gadgets, improvement in housing standards, and expansion in the construction industry.
Introduction of the Air Conditioning Market:
Air conditioning is referred to as a method implemented to maintain and create temperature, air purity conditions, and relative humidity in indoor spaces. Air conditioning can be used in both domestic and commercial environments and is independent of external conditions. It is also utilized in industrial applications to perform the correct operation of the machinery or equipment which are needed to be operated in specific environmental conditions.
Key Players of the Global Air Conditioning Market:
- Haier lnc.
- Midea Group
- LG Electronics
- Denso Corporation
- Mitsubishi Electric Corporation
- Toshiba Carrier Corporation
- Panasonic Corporation
- Gree Electric Appliances, Inc.
- Voltas Ltd.
- Daikin Industries Ltd.
Air Conditioning Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global air conditioning market is expected to witness robust growth due to the augmenting technological innovations, including the establishment of air purification technologies, mounting temperature and humidity levels, and the soaring acceptance of AC as a utility rather than a luxury product. The surging emphasis on developing economical, convenient, and environment-friendly products, improving economic conditions of emerging economies, rising per capita income, and accelerating urban population have strengthened the air conditioning market size. In addition, the escalating introduction of multiplexes, hospitals along with the expansion in the construction industry promoting the development of commercial and residential buildings led by the rapid aggravation in population rate and enlargement in the tourism sector, will further proliferate the market growth. The intensifying demand for private car rental services like Uber, Ola to offer a better and cost-effective experience to consumers is another factor stimulating the air conditioning market share.
However, the widespread outbreak of the COVID-19 pandemic is forecasted to influence market growth negatively. This is because of the drastic fall in the supplies of various components of air conditioners from China. The prominent distributors are worried that the customers may not buy these products because of the fear of catching the virus. The high initial cost and excessive maintenance value may hinder market growth in the near future.
Air Conditioning Market Segmentation:
Segmentation by Chillers
- VRF Systems
- Room/Unitary Air Conditioners
- Coolers
- Others
Segmentation by End-User
- Commercial
- Residential
- Industrial
- Automotive
Segmentation by Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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