Global Air Conditioning Market Share 2021: Trends, Key Players, Industry Analysis Report to 2027

The global air conditioning market is anticipated to grow at a moderate CAGR of 5.8%during the forecast period (2021-2027). The market growth is mainly driven by the increasing urbanization, technological advancements, and growing demand for inverter air conditioning, among others. Increase in urbanization not only affects the human aspects but also has a broader impact on business specially consumer appliances. People who often shift to urban area have much higher income as compared to others, so the citizenry will look to spend more on discretionary purchases such as electronic machinery and its equipment. So, it will lead to generating more and more need and demand of air conditioner and further the utilization of the same.

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Additionally, new product launches to meet the demand for customization is another key factor enlarging the growth and development of the air conditioning industry. For instance, in January 2020, Daikin had launched first ever European VRF air conditioning system which would be run on the lower GWP refrigerant R32. The presence of the new technology into the product is there for making the VRF5 as an east to install same as the model R410A. These were developed for residential and commercial application along with careful installation and low noise when compared with mini VRV IV-S. This new VRF5 series will have 40.0% reduction in height and 10.0% decreased in volume.

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Global Air Conditioning Market Report Segment

By Application

Residential
Commercial
Industrial
Others

By Type

Splits and Window AC
Rooftop
Indoor Packaged ACs
VRF
Chiller
Others

By Refrigerant Type

HCFC (Hydrochlorofluorocarbons)
HFC (Hydrofluorocarbons)
HFO ((Hydrofluoric-Olefin))
Natural Refrigerant

Global Air Conditioning Market Report Segment by Region

North America

United States
Canada

Europe

UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of the Asia-Pacific

Rest of the World

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