The global air conditioning systems market size is expected
to reach USD 195.65 billion by 2025, registering a CAGR of 9.9% from 2019 to
2025 according to a study conducted by Grand View Research, Inc. Factors such
as increasing international tourism, growing consumer spending on home
improvement, and introduction of energy-efficient systems, coupled with the
rising popularity of green cooling concepts, are expected to drive the market
growth over the forecast period.
Global events usually pave the way for
extensive construction projects, such as the establishment of new buildings and
improvement of existing infrastructure. These projects aim at accommodating and
catering to the needs of international tourists & visitors or working
professionals and providing them enhanced facilities. For instance, the 2020
Summer Olympics event, expected to be held in Tokyo, is expected to drive the
construction and development of ample commercial, residential, and lodging
spaces in the city before the event commences. Similarly, in Dubai, the
government is expected to make significant investments in infrastructure
development to accommodate the large number of visitors expected to be
attending the Expo 2020, a universal exposition. This, in turn, is creating an
increased demand for air conditioners.
The competitive landscape of the
market is highly consolidated and characterized by high competition with the
presence of key players such as Carrier Corporation, Haier Inc., Electrolux,
Ingersoll-Rand plc, and DAIKIN INDUSTRIES, LTD. These players are engaged in
mergers and acquisitions to enhance their market presence. For instance, in
January 2018, Ingersoll Rand plc and Mitsubishi Electric Corporation signed a
contract to create a joint venture to enhance the marketing, sales, and
distribution of VRF and ductless heating and air conditioning systems. Under
the partnership, the companies will distribute their products under the American
Standard and Trane brands using the latter’s corporate logo and the former’s
distribution channels.
Browse full research report on Air Conditioning Systems Market: https://www.grandviewresearch.com/industry-analysis/air-conditioning-systems-industry
Further key findings from the study suggest:
- The Packaged Terminal Air Conditioners (PTAC) segment is
expected to register a CAGR of over 4.0% from 2019 to 2025 in terms of
volume. This growth of the segment can be attributed to their increasing
adoption in hospitality and residential sectors
- In terms of technology, the inverter segment is expected to
experience significant growth over the forecast period owing to its
ability to control the speed of the compressor motor, which helps in
continuous regulation of temperature. This variable speed compressor helps
in saving 50% more energy and power as compared to non-inverter air
conditioners
- The commercial end-use segment accounted for nearly 20% of
the overall market share in 2018. The segment is also anticipated to
witness substantial growth over the forecast period owing to the rapid
industrialization in various North American and European countries
- The air conditioning systems market for North America is
expected to exhibit a CAGR of over 6% from 2019 to 2025 in terms of
revenue. With high penetration of air conditioners in developed economies
such as the U.S., the region is expected to experience growth owing to
increasing demand for replacement and refurbishment of existing systems.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/air-conditioning-systems-industry/request/rs1
Grand View Research has segmented the global air conditioning
systems market based on type, technology, end use, and region:
Air Conditioning Systems Type Outlook (Revenue, USD Billion;
Volume, Thousand Units, 2014 - 2025)
- Unitary
- Rooftop
- PTAC
Air Conditioning Systems Technology Outlook (Revenue, USD Billion;
Volume, Thousand Units, 2014 - 2025)
- Inverter
- Non-inverter
Air Conditioning Systems End-Use Outlook (Revenue, USD Billion;
Volume, Thousand Units, 2014 - 2025)
- Residential
- Commercial
- Industrial
Air Conditioning Systems Regional Outlook Revenue, USD
Billion; Volume, Thousand Units, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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