Air-Conditioning Equipment Global Market Report 2024 To 2033 | Daikin Industries Ltd, Midea Group Co. Ltd, Haier Group, Carrier Global Corporation, Hitachi Ltd |

The Business Research Company recently released a comprehensive report on the Global Air-Conditioning Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

The development of sustainable systems is a key trend in the air-conditioning equipment market. Sustainable systems such as solar-powered air-conditioning equipment 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 instance, in October 2022, iAIRE, LLC, a US-based HVAC equipment manufacturer, 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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Major Key Players of the Market:

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

Air-Conditioning Equipment Market 2024 Key Insights:

• 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%.
• Rapid Urbanization And Industrial Growth Propel Demand For Air-Conditioning Equipment
• Advanced Sustainable Systems Drive Air-Conditioning Trends
• The Asia-Pacific was the largest region in the air-conditioning equipment market in 2023

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Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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