Press release
Global Air Conditioning System Market is Booming Worldwide with Key Players: Mitsubishi Electric Corporation, Midea Group Co., Ltd., Samsung Electronics Co.
This report on the global air conditioning system market provides analysis for the period 2016–2026, wherein 2017 is the base year and the period from 2018 till 2026 is the forecast period. Data for 2016 has been included as historical information. The report covers market dynamics including drivers, restraints, opportunities, and trends that are expected to influence the expansion of the global air conditioning system market during the said period. The study provides a comprehensive analysis of market growth throughout the above forecast period in terms of value estimates (US$ Mn) and volume estimates (‘000 Units) across different geographies.
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Global Air Conditioning System Market: Drivers and Opportunities
The rise in the global construction sector is increasing the demand for air conditioners of various types. A rise in construction activity both in residential and commercial sectors across the world is expected to increase the demand for air conditioners. North America and the Asia Pacific are two of the fastest growing construction markets in the world. In 2019, construction sector revenues in North America and Asia Pacific are expected to grow 3.0% - 6.0% and 7.0% - 10.0% respectively. Both the U.S. and Canada in North America are witnessing an increase in residential construction due to government funding which is increasing the demand for air conditioners. According to the U.S. Census Bureau, in the U.S. residential construction sector, revenue has increased from ~US$ 0.3 Bn in January -10 to ~US$ 0.6 Bn in January-18 and non-residential construction revenue has increased from ~US$ 0.6 Bn in January 2010 to ~US$ 0.8 Bn in January 2018. Total construction sector revenue has increased from ~US$ 0.8 Bn in January 2010 to US$ 1.30 Bn in January 2018. Low-interest rates in the U.S., U.K., Germany, and Japan are increasing construction activities. Thus, rising demand from the construction industry is increasing the demand for air conditioners.
.Global Air Conditioning System Market: Key Segments
The study provides a conclusive view of the global air conditioning system market by segmenting it in terms of product, application, end-use, and distribution channel. In terms of product, the global air conditioning system market has been classified into split AC and window AC. Based on application, the market has been segmented into RAC (Room Air Conditioners), PAC (Packaged Air Conditioners), and VRF (Variable Refrigerant Flow) air conditioners. VRF air conditioner systems are also known as VRV (Variable Refrigerant Volume) air conditioners. Based on end-use, the global air conditioning system market is segmented into residential and commercial. Based on the distribution channel, the market is segmented into online and offline.
The analysis of the above segments is based on present and forecasted global demand for air conditioners and the prevailing and future trends in the market. We have analyzed the present and estimated the regional market size of air conditioning systems across North America, Europe, Asia Pacific, Middle East &Africa, and South America. The regional air conditioning system markets are further broken down into country-level markets in the following geographies: the U.S., Canada, Russia, Italy, Spain, France, U.K., China, Japan, India, GCC, Nigeria, and Brazil.
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Global Air Conditioning System Market: Competitive Landscape
The global air conditioning system market consists of global players as well as a large number of medium and small players.
The report includes a detailed analysis of the global air conditioning system market, SWOT (Strength, Weakness, Opportunity, and Threat) analysis of the market, Porter’s Five Force analysis, key macroeconomic indicators influencing the market, air conditioning system market regulations in various geographies, and trends. The industry analysis includes value chain analysis of the global air conditioning system market.
The report highlights major companies operating in the global air conditioning system market including Daikin Industries, Ltd., Mitsubishi Electric Corporation, Midea Group Co., Ltd., Samsung Electronics Co., Ltd., Electrolux AB, Panasonic Corporation, United Technologies Corp., Hitachi, Ltd. Sharp Corporation, and Lennox International Inc.
These market players have been profiled in terms of attributes such as a description of the company, financials, products, and key strategies to increase market share in the global air conditioning system market.
The global air conditioning system market is segmented as below:
Global Air Conditioning System Market, by Product
Split AC
Window AC
Global Air Conditioning System Market, by Application
RAC
PAC
VRF
Global Air Conditioning System Market, by End-use
Residential
Commercial
Global Air Conditioning System Market, by Distribution Channel
Online
Offline
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