Air Conditioning Systems Market | Global Size, Share, Growth, Trends and Industry Report 2020-2025

According to the latest report by IMARC Group, titled "Air Conditioning System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025", the global air conditioning market grew at a CAGR of around 10.6% during 2014-2019. Air conditioning systems are widely used to expel the hot air and replace it with the cool, dry air in an enclosed space. These systems aid in controlling temperature, humidity, purity and motion of air. They generally consist of compressors, condensers, evaporator coils, blowers and chemical refrigerants. Nowadays, air conditioning systems are installed in the residential, commercial and industrial sectors across the globe.

Some of the key players being HAIER ELECTRONI/ADR OTCMKTS: (HRELY), Carrier Corporation (UTX), DAIKIN INDUSTRI/ADR OTCMKTS: (DKILY), Electrolux North America, Inc., Hitachi-Johnson Controls Air Conditioning Inc., Lennox International Inc., LG Electronics Inc., Midea Group Co., Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., etc.

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At present, governments of several countries are investing in the development of smart cities. They are also investing in different promotional activities to increase awareness about energy-efficient air conditioning systems and reduce overall energy consumption. This represents one of the key factors driving the global air conditioning system market growth. Apart from this, the escalating demand for improved indoor air quality (IAQ) on account of rising air pollution acts as another major growth-inducing factor. Besides this, the growing global population and inflating income levels are increasing the adoption of air conditioning systems across the globe. Looking forward, IMARC Group expects the market to continue its strong growth during the next five years.

Market Breakup by Technology:
o Inverter
o Non-Inverter

Market Breakup by Product Type:
o Unitary
o Rooftop
o PTAC
o Others

Market Breakup by End-User:
o Residential
o Commercial
o Industrial

Market Breakup by Distribution Channel:
o Specialty Stores
o Supermarkets and Hypermarkets
o Online
o Others

Ask Analyst and Download Full Report with List of Figure: https://www.imarcgroup.com/air-conditioning-system-market

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