Solar Air Conditioning Market Significant Growth 2021: Industrial Rapid Development by Top Manufacturers till 2027

Solar air conditioning refers to air conditioning systems that consumes solar power to offer air conditioning effects. Using passive solar thermal energy, solar air conditioning emits conditioned air through a thermally driven refrigeration process. Solar air conditioning systems are used in residential, commercial, and industrial spaces to reduce electricity cost. Increasing environmental concerns to save electricity among people and organizations has helped the solar air conditioning market to grow at a substantial rate.

Moreover, demand for solar air conditioning systems is increasing due to increasing global temperature in the recent past. For instance according to National Oceanic and Atmospheric Agency (NOAA )data, the 2017 average global temperature across land and ocean surface areas was increased by 0.84°C (1.51°F).

Global solar air conditioning market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to changing lifestyle and demand for increasing comfort among people and increasing government initiatives to enhance the share of solar energy in power consumption.

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What are the growth estimates for solar air conditioning market till 2026?
The global solar air conditioning market is estimated to surpass US$ 39.22 Billion by 2026.

Which are the prominent solar air conditioning market players across the globe?
Major players operating in the global solar air conditioning market include Lennox, Videocon, Harvest Air Conditioner, HotSpot Energy Inc., Aussie Solar World, Solair World International, Icesolair, Gree, Midea Group Onyx Solar ac, and others.

What are the key factors hampering growth of the solar air conditioning market?
High initial setup cost of solar air conditioningis one of the major factors that is expected to hamper growth of the market over the forecast period.

What is the compound annual growth rate (CAGR) of the solar air conditioning market for next 8 years?
The global solar air conditioning market is estimated to exhibit a CAGR of 9.3% over the forecast period (2018-2026).

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