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Air Conditioner & Coolers Market Size Estimation, COVID-19 Impact Analysis, Key Insights and Application By 2027
Air Conditioner & Coolers Market
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increase in temperature and humidity globally as well as the acceptance of air conditioner & coolers as necessity are major factors that drive the growth of the air conditioner & coolers market. The emergence of technologically improved air conditioner & coolers, such as invertor based or ones with air purification technology, also influences the market positively.
However, stringent government regulations on the use of certain refrigerants in the manufacturing of ACs hinder the market growth. Contrarily, major players of the market are working in the direction of replacing the key harmful refrigerants, such as CFCs and developing eco-friendly products.
The global air conditioner & coolers market trends are as follows:
Asia-Pacific market is expected to grow at highest rate
Major demand for air conditioners and coolers comes from Asia-Pacific. This is due to rapid infrastructure development and inclination of people toward lifestyle products.
China is considered to be the largest market when it comes to the air conditioner systems in the world. In the region of China, room based air conditioners actually dominate the market. Japan and India are two of the other important names in the air conditioning and cooler markets and thus center of attraction for the global air conditioning manufacturers.
Development of Multi-functional Air Conditioners and Coolers
The top players of the air conditioners and coolers market focus on the developments of technologically advanced products to attract the buyers.
For example, Symphony Ltd., the leading cooler manufacturer, launched touch based range of air coolers for the household segment. It is different as it comes equipped with an air purifier as well as a mosquito repellent. Symphony touch based range of coolers includes voice assistance, touch screen, and a feature called as i-PURE technology. The i-PURE technology possesses too many advantages such as bacteria filter, allergy filter as well as smell and dust filter.
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Development of multi-functional air conditioners and coolers are in trend within this market.
•Regions Covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and Rest of LAMEA)
•Companies Covered Daikin Industries Ltd., Samsung Electronics Ltd., LG Electronics Inc., Midea Group, Hisense Electric Co., Mitsubishi Electric Corporation, Panasonic Corporation, Hitachi Ltd., Sharp Corporation, Symphony Ltd., Electrolux AB, Havells India Ltd.
Key Benefits of the Report:
• This study presents the analytical depiction of the global air conditioner & coolers industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global air conditioner & coolers market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global air conditioner & coolers market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global air conditioner & coolers market analysis based on competitive intensity and how the competition will take shape in the coming years.
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