Global Air-Conditioning Equipment Market 2023 - By Size, Share Analysis, Growth Trends, Forecasts 2032

As per The Business Research Company's Air-Conditioning Equipment Opportunities And Strategies Market Report 2023, the global air-conditioning equipment market reached a value of nearly $220,734.60 million in 2022, having grown at a compound annual growth rate (CAGR) of 5.6% since 2017. The market is expected to grow from $220,734.60 million in 2022 to $278,135.51 million in 2027 at a rate of 4.7%. The market is then expected to grow at a CAGR of 5.7% from 2027 and reach $366,849.98 million in 2032.

Rising global temperatures are expected to be a key driver of the growth of the air-conditioning equipment market in the forecast period. Escalating global temperatures are driving an increasing need for cooling solutions to establish optimal indoor comfort. This demand surge is projected to propel the adoption of air conditioning systems across residential, commercial and industrial sectors. For instance, in June 2023, according to a report published by the NOAA (National Oceanic and Atmospheric Administration) National Centers for Environmental Information, a US-based organization that provides authoritative climate, weather and environmental data, global surface temperatures recorded by NOAA reached 1.00 °C (1.80 °F) above the average temperature, making it the fourth-warmest April in their 174-year record.

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Air-conditioning equipment manufacturers are focusing on incorporating wind-free technology into air conditioners to strengthen and enhance their product offerings. Wind-Free technology is an innovative feature in air conditioning systems that aims to provide a more comfortable cooling experience while minimizing direct airflow, as well as making it possible for market players to provide consumers with a quieter, more comfortable and more energy-efficient cooling experience. For instance, in February 2023, Samsung Electronics Co. Ltd., a South Korea-based electronics manufacturer specializing in consumer electronics, telecommunications and home appliances, launched its latest generation of Wind Free air conditioners in the Indian market.

The top opportunities in the air-conditioning equipment market segmented by product type will arise in the unitary air conditioners segment, which will gain $24,530.1 million of global annual sales by 2027. The top opportunities in segment by components will arise in compressor segment, which will gain $21,220.0 million of global annual sales by 2027. The top opportunities in segment by application will arise in the residential segment, which will gain $23,563.1 million of global annual sales by 2027. The air-conditioning equipment market size will gain the most in the USA at $7,433.7 million.

Air-Conditioning Equipment Market Segmentation:
The air-conditioning equipment market is segmented by product type, by components and by application.
By Product Type -
a) Unitary Air Conditioners
b) Room Air Conditioners
c) Packaged Terminal Air Conditioners
d) Other Product Types

By Components-
a) Refrigerant
b) Compressor
c) Condenser Coil
d) Expansion Valve
e) Evaporator Coil

By Application-
a) Residential
b) Commercial
c) Industrial

By Geography -
Asia Pacific was the largest region in the air-conditioning equipment market.

Major players in the Air-Conditioning Equipment market include Daikin Industries Ltd, Midea Group Co. Ltd., Haier Group, Carrier Global Corporation, Hitachi Ltd.

The regions covered in the global Air-Conditioning Equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Air-Conditioning Equipment Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Air-Conditioning Equipment Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
………………………………………..
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Air-Conditioning Equipment Market, Conclusions And Recommendations
22. Appendix

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