Press release
Asia-Pacific Air Conditioners Market Projected to Surpass $122 Billion by 2030
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According to Meticulous Research®, the Asia-Pacific air conditioners market is set to reach an impressive $122.06 billion by 2030, reflecting a robust CAGR of 6.4% during the forecast period from 2023 to 2030. This surge is fueled by escalating temperatures, increasing humidity levels, and a growing consumer preference for convenience and comfort. The market is further driven by the rising demand for energy-efficient air conditioners, although hindered by the challenges posed by high costs.
The report identifies pivotal growth opportunities, including the adoption of inverter and air purification technologies, as well as advancements in HVAC systems. Nevertheless, the market faces challenges such as high energy consumption associated with air conditioners, prompting the need for sustainable solutions. Notable trends in the market include the emergence of connected air conditioners and the integration of solar photovoltaic and solar thermal-assisted air conditioning systems.
Segment-wise, the Asia-Pacific air conditioners market is categorized based on type, tonnage, technology, rating, and end user. Key highlights include:
Type Segment Highlights:
• Split ACs are expected to dominate the market, driven by the demand for energy-saving and low-noise solutions.
• Centralized/ducted ACs are projected to record the highest CAGR, fueled by the rising preference for energy-efficient systems in developing countries.
Tonnage Segment Insights:
• Up to 2 tons ACs are anticipated to hold the largest market share, driven by the demand for custom features in small spaces.
• The 2 tons to 5 tons segment is expected to register the highest CAGR, fueled by the increasing demand for larger AC units with advanced features.
Technology Segment Findings:
• Inverter ACs are poised to command a larger market share, driven by technological advancements and awareness of energy-efficiency benefits.
• The inverter ACs segment is expected to register the highest CAGR, fueled by the cost-effectiveness and environmental friendliness of these systems.
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Rating Segment Trends:
• 3 Star ACs are predicted to dominate the market due to high efficiency and durable components.
• 5 Star ACs are expected to register the highest CAGR, propelled by reduced electricity consumption and automated power management features.
End User Segment Highlights:
• Residential end users are expected to hold the largest market share, driven by the adoption of smart home technologies.
• Residential end users are projected to register the highest CAGR, fueled by increased installation in apartments and the introduction of advanced features.
Geographical Analysis:
• China is expected to lead the market in 2023, driven by agreements for urban transportation systems and initiatives to boost production.
• India is projected to register the highest CAGR, supported by government initiatives, growth in construction, and new product launches.
Key Players: Prominent players in the Asia-Pacific air conditioners market include Daikin Industries, Mitsubishi Electric Corporation, Hitachi-Johnson Controls Air Conditioning, Carrier Global Corporation, Whirlpool Corporation, Haier Smart Home, LG Electronics, Voltas Limited, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics, Fujitsu Limited, Blue Star Ltd, Toshiba Corporation, Gree Electric Appliances, and Midea Group.
Key Insights from the Report: The report answers crucial questions such as high-growth market segments, historical market size, forecasts for 2023-2030, major drivers, restraints, opportunities, major players, competitive landscape, recent developments, strategies adopted, key geographic trends, and emerging local players.
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Meticulous Research® delivers unparalleled insights, empowering businesses to make informed decisions in the ever-evolving Asia-Pacific air conditioners market.
Mr. Khushal Bombe
Meticulous Market Research Inc.
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California, 96001, U.S.
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