Press release
Air-Conditioning Equipment Global Market Report 2024 - By Size, Share, Trends, Forecast To 2033
The Business Research Company presents an extensive market research report on the Air-Conditioning Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The air-conditioning equipment market size has grown strongly in recent years. It will grow from $209.74 billion in 2023 to $220.94 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to expanding construction industry, the rising urbanization, the rise in demand for air conditioners and the rising disposable income.
The air-conditioning equipment market size is expected to see strong growth in the next few years. It will grow to $275.47 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to the rising global temperatures, the increasing demand for energy-efficient solutions and government regulations and initiatives. Major trends in the forecast period include focus on wind-free technology, smart and connected technologies, sustainable refrigerants and mergers and acquisitions.
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Key Market Players:
Major companies operating in the air-conditioning equipment market report are Daikin Industries Ltd, Midea Group Co. Ltd, Haier Group, Carrier Global Corporation, Hitachi Ltd, Samsung Electronics, Mitsubishi Electric Corporation, LG Electronics, Fujitsu General Ltd., Electrolux AB, LEEL Electricals Ltd (Lloyd), Johnson Controls-Hitachi Air Condition India Ltd, Amber Enterprises India Ltd, Blue Star Ltd , Voltas Ltd, AUX Group, Gree Electric Appliances, Inc, Abionik Group, Accruent, Actron Engineering Pty Ltd, WAECO, Stefani Spa, OAG Industries, ERRECINQUE S.R.L , VULKAN Group, KLIMA-THERM Group , Frapol, Autoclima, CPS, Aquatherm, MDV, KOMFOVENT, CaptiveAire Systems, Greenheck Fan Corporation, Twin City Fan Companies Ltd, Honeywell International Inc, Nortek Air Solutions , Carrier Airconditioning & Refrigeration Limited, MW Solutions, Nomad Go, Maxell Trading LLC, Daikool Industries Limited, Geo Electrical Contracting Trading Company LLC, SilkAir International LLC, Temperature Control Company LLC, Tecnalco Aluminum Technical Engineering Company, Aaf-Mcquay (L.L.C) , Arshi Air Conditioning & Refrigeration Co, Air Group, Ebair Condition, Miraco, Airmaster Emirates, Van Tech, Airco, HVAC Distributors, ITD Group
Market Drivers:
Increasing urbanization and industrialization are projected to boost the demand for air-conditioning equipment during 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. According to the publication by Our World In Data, people living in urban areas worldwide are projected to reach about 7 billion people by the end of 2050. Moreover, according to United Nations-Habitat's World Cities Report 2022, the urbanization in is predicted to grow to 675 million in 2035, which is the 2nd highest behind China's 1 billion urban population. Therefore, rapid urbanization is driving the growth of the air-conditioning equipment market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/airconditioning-equipment-global-market-report
The air-conditioning equipment market covered in this report is segmented -
1) By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Other Product Types
2) By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
3) By Application: Residential, Commercial, Industrial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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