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Air-Conditioning Equipment Market Analysis, Trends, Growth, Research And Forecast 2032
Air-Conditioning Equipment Market
The Business Research Company's Air-Conditioning Equipment Global Market Report 2023 identifies increasing urbanization and industrialization as the major driver for the air-conditioning equipment market's growth in the forecast period. The surge in urban population and the growing number of industrial activities are expected to generate a high requirement for HVAC equipment including air-conditioning equipment.
The global air-conditioning equipment market size will grow from $222.27 billion in 2022 to $231.53 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global air-conditioning equipment is expected to grow to $281.59 billion in 2027 at a CAGR of 5.0%.
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Major competitors in the air-conditioning equipment market are Daikin Industries Ltd., Lennox International Inc., Hitachi Ltd., Panasonic Corporation, Electrolux AB, Mitsubishi Electric Corporation, MIDEA Group Co. Ltd.
A key trend in the air-conditioning equipment market includes development of sustainable systems. Sustainable systems such as solar-powered air-conditioning equipment systems are becoming more popular as people look for ways to reduce their carbon footprint. Major companies in the market are focusing on developing such systems. For example, in 2022, US based HVAC equipment manufacturer, iAIRE launched its patented Solar HVAC for homes and businesses across all industries in the USA, in order to provide Americans access to high-quality and energy-saving resources. The system has cost savings on equipment, installation and operations and also works up to 50% more effectively than other systems.
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The air-conditioning equipment market is segmented -
• By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Chillers, Absorption Liquid Chillers
• By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
• By Application: Residential, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the air-conditioning equipment market.
The Business Research Company's "Global Air-Conditioning Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Air-Conditioning Equipment Market Include:
1. Executive Summary
2. Air-Conditioning Equipment Market Characteristics
3. Air-Conditioning Equipment Market Trends And Strategies
4. Air-Conditioning Equipment Market - Macro Economic Scenario
5. Air-Conditioning Equipment Market Size And Growth
……
26. Africa Air-Conditioning Equipment Market
27. Air-Conditioning Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Air-Conditioning Equipment Market
29. Air-Conditioning Equipment Market Future Outlook and Potential Analysis
30. Appendix
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