AIR CONDITIONER MARKET

KEY FINDINGS

1. The Asia Pacific region is the largest regional market, accounting for most of the market share. The region is expected to continue to dominate the market throughout the forecast period, driven by rapid economic growth and urbanization in countries such as China, India, and Indonesia. 
2. The residential segment is the largest application segment, accounting for the majority of the market share. The commercial segment is also growing rapidly, driven by the increasing demand for air conditioners in offices, hotels, restaurants, and other commercial establishments. 
3. Room air conditioners are the most popular type of air conditioner, accounting for the largest market share. 
4. The key drivers of the global air conditioner market include rising global temperatures, increasing urbanization, and improving living standards in developing countries. 
5. Air conditioner manufacturers are also developing new products that are more sustainable. This includes using recycled materials in the manufacturing process and developing new refrigerants that have a lower environmental impact. Some new sustainable air conditioners even feature solar panels, which can help to reduce the reliance on grid electricity. 
6. The key challenges facing the global air conditioner market include the rising cost of raw materials, increasing competition from low-cost manufacturers, and stringent government regulations. 
7. Air conditioner manufacturers are developing new products that are more energy-efficient than traditional air conditioners. This is being driven by several factors, including government regulations and consumer demand. Some new energy-efficient air conditioners feature inverter compressors, which can help to reduce energy consumption by up to 50%. 

INTRODUCTION

 A device or system used to control and regulate the temperature, humidity, and air quality of an enclosed space—typically a room or a building—is known as an air conditioner, frequently abbreviated as AC or A/C. 

It cools the environment inside by drawing heat out of the indoor air and releasing it outside. The part of an air conditioner that is indoors is called the evaporator coil. It has a cold refrigerant that cools down the air by absorbing heat from the indoor atmosphere. The indoor unit's fan moves the cool air around the space. 

Another essential component, the compressor, facilitates the heat exchange process by pumping the refrigerant between the condenser and evaporator coils. Refrigerant, a unique chemical compound used in air conditioners, travels throughout the system. To achieve cooling, it alternately evaporates (consuming heat) and condenses (releasing heat). 

Modern life is not complete without air conditioners, which offer comfort in both home and commercial settings, particularly in areas with extreme temperatures or high levels of humidity. They significantly contribute to preserving indoor comfort and raising standard of living.

The ecology may be impacted by the refrigerants used in air conditioners. Older refrigerants that affect the ozone layer, such CFCs and HCFCs, have been phased out. While less hazardous to the ozone layer than older refrigerants, such HFCs, they nevertheless contribute to greenhouse gas emissions. To create more environmentally friendly refrigerants, research is ongoing.

To know more about Global Inverter Air Conditioners Market, read our report

AIR CONDITIONER MARKET SIZE AND FORECAST

The Global air conditioner Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

The global air conditioner market is segmented by type, application, channel, and region. By type, the market is segmented into room air conditioners, ducted air conditioners, ductless air conditioners, and centralized air conditioners. Room air conditioners are the most popular type of air conditioner, accounting for the largest market share. 

By application, the market is segmented into residential, commercial, and industrial applications. The residential segment is the largest application segment, accounting for the majority of the market share. The commercial segment is also growing rapidly, driven by the increasing demand for air conditioners in offices, hotels, restaurants, and other commercial establishments. 

By power output, the market is segmented into below 1 ton, 1 ton, 2-3 tons and above 3 tons. The 2-3 tons is the dominant power output for air conditioners, accounting for the majority of the market share. However, above 3 tones power output is growing rapidly. 

By Geography, the global air conditioner market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. AsiaPacific is the largest regional market, accounting for the majority of the market share. The region is expected to continue to dominate the market throughout the forecast period, driven by the rapid economic growth and urbanization in countries such as China, India, and Indonesia. 

Some of the key players in the global air conditioner market include Gree Electric Appliances, Inc., Midea Group Co., Ltd., Haier Group Corporation, Daikin Industries, Ltd., and Mitsubishi Electric Corporation. These companies are investing heavily in research and development to launch innovative new products and technologies. 

The global air conditioner market is expected to witness significant growth in the coming years, driven by the rising global temperatures, increasing urbanization, and improving living standards in developing countries. The market is also being driven by the increasing demand for energy-efficient and sustainable air -conditioners. 

TRENDS IN GLOBAL AIR CONDITIONER MARKET

• The rise of artificial intelligence (AI) is being used to develop new air conditioner technologies that can improve energy efficiency, comfort, and indoor air quality. For example, some AI-powered air conditioners can learn the user's cooling preferences and adjust the temperature accordingly. 
• Air conditioner manufacturers are developing new products that can be powered by renewable energy sources, such as solar and wind power. This will help to reduce the environmental impact of air conditioners and make them more affordable for consumers. 
• Portable air conditioners are becoming increasingly popular, as they are more affordable and easier to install than traditional air conditioners. Portable air conditioners are also a good option for people who live in rented accommodations, where they may not be allowed to install permanent air conditioning units. 
• Smart air conditioners are connected to the internet and can be controlled remotely using a smartphone or tablet. This allows users to monitor and manage their energy consumption, and to create customized cooling schedules. Smart air conditioners are also becoming more affordable, and their adoption is expected to increase significantly in the coming years. 

NEW PRODUCT LAUNCH

The No. 1 AC brand in India and the market leader in cooling products,Voltas, comes from the Tata family and has further solidified its position as a market leader. The Voltas Inverter AC range, which has the distinctive value proposition of "Pure & Flexible Air Conditioning," is the company's most recent offering.

It is equipped with a HEPA filter, a PM 1.0 sensor, and an AQI indicator that help to purify the air indoors. It also has a 6 stage adjustable mode with convertible cooling that enables the user to switch between different tonnages according to the temperature or the number of occupants in the room. 

LG DUALCOOL inverter air conditioners with AI+ and health and hygiene portfolio: These air conditioners feature LG's AI+ technology, which can learn the user's cooling preferences and adjust the temperature accordingly. They also feature a health and hygiene portfolio, which includes a Plasmaster Ionizer++ and a UVnano LED sterilization system. 

Daikin FTKP series air conditioners with 3D airflow function: These air conditioners feature Daikin's 3D airflow function, which blows cool air in multiple directions to ensure thorough cooling inside the room. They also feature a number of energy-saving features, such as an inverter compressor and an intelligent eye sensor. 

Mitsubishi Electric ZUBADAN heat pump air conditioners: These air conditioners are designed for use in cold climates, and they can provide efficient heating and cooling even in temperatures as low as -25 degrees Celsius. They also feature a number of energy-saving features, such as a hyper heating system and a dual compressor system. 

  

They get savings in operating cost optimization in addition to receiving safe and pure air. 

MARKET SEGMENTATION 

By Type

• Room air conditioners 
• Ducted air conditioners 
• Ductless air conditioners 
• Centralized air conditioners 

By Application

• Residential air conditioners 
• Commercial air conditioners 
• Industrial air conditioners 

By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

By power Output

• Below 1 ton 
• 1-2 tons 
• 2-3 tons 
• Above 3 tons 

COMPANY PROFILE

• Gree Electric Appliances, Inc. 
• Midea Group Co., Ltd. 
• Haier Group Corporation 
• Daikin Industries, Ltd. 
• Mitsubishi Electric Corporation 
• LG Electronics Inc. 
• Samsung Electronics Co., Ltd. 
• Panasonic Corporation 
• Hitachi, Ltd. 
• Toshiba Carrier Corporation 
• Fujitsu General Limited 

 â€¯ 

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS 

1. How many air conditioners are manufactured per annum globally?  
2. Cost breakup of a Global air conditioner and key vendor selection criteria 
3. Where is the air conditioner manufactured? What is the average margin per unit? 
4. Market share of Global air conditioner market manufacturers and their upcoming products 
5. The key predictions for the next 5 years in the Global air conditioner market 
6. Average B-2-B air conditioner market price in all segments 
7. Latest trends in the air conditioner market, by every market segment 
8. The market size (both volume and value) of the air conditioner market in 2024-2030 and every year in between. 
9. Production breakup of the air conditioner market and supply chain of the air conditioner market. 
10. What is the impact of climate change on the demand for air conditioners? 
11. How is the growing urbanization in developing countries driving the demand for air conditioners? 
12. What are the government regulations that are impacting the global air conditioner market? 
13. How are new technologies, such as artificial intelligence and the Internet of Things, changing the air conditioner industry? 
14. What are the sustainability challenges facing the global air conditioner market? 
15. How are air conditioner manufacturers addressing these challenges? 
16. What is the impact of rising energy prices on the demand for air conditioners? 
17. How are air conditioner manufacturers developing new products that are more affordable and accessible to consumers in developing countries? 
18. What is the role of the aftermarket in the global air conditioner market? 
19. How is the digital transformation impacting the way that air conditioners are sold and serviced? 
20. How are air conditioner manufacturers responding to the growing demand for sustainable and eco-friendly products?