(2023-2028) Air Conditioning System Market (New Data Insights) Size, Demand, Emerging Companies Share and Forecast Report

According to IMARC Group's latest research report, titled "Air Conditioning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global air conditioning system market size reached US$ 111.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 160.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.24% during 2023-2028.

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Air Conditioning System Market Overview:

An air conditioning system is a mechanical system that is designed to regulate and control the temperature, humidity, and air quality of an indoor space. It works by cooling and dehumidifying the air and then circulating it back into the room. It typically consists of an outdoor unit that contains a compressor, a condenser coil, and a fan and an indoor unit that contains an evaporator coil and a fan. At present, air conditioning systems are widely used in homes, offices, and other indoor spaces across the globe to provide comfort and improve air quality.

Global Air Conditioning System Market Demand and Growth Analysis:

The market is primarily driven by the increasing construction of residential complexes, hospitals, hotels, multiplexes, shopping malls, and auditoriums, especially in developing countries. In addition, the rising environmental concerns and stringent regulations for reducing carbon emissions have escalated the demand for energy-efficient and green AC systems globally.

Besides this, the market is also propelled by the implementation of various government initiatives to promote eco-friendly product variants. Moreover, the introduction of advanced product variants, various technological advancements in the production processes, and the rising disposable incomes of consumers are some of the other factors creating a favorable market outlook across the globe.

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Key Market Segmentation:

Top Air Conditioning System Companies Worldwide:

• Carrier Corporation
• DAIKIN INDUSTRIES, Ltd.
• Electrolux North America, Inc.
• Haier Group Corporation
• 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.

Breakup by Technology:

• Inverter
• Non-Inverter

Breakup by Product Type:

• Unitary
• Rooftop
• PTAC
• Others

Breakup by End-User:

• Residential
• Commercial
• Industrial

Breakup by Distribution Channel:

• Specialty Stores
• Supermarkets and Hypermarkets
• Online
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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