Projection of Revenue Growth:
The Air Conditioning Market size was valued at US$ 162.81 Bn in 2023 and the total revenue is expected to grow at 9.8% through 2024 to 2030, reaching nearly US$ 313.25 Bn.
Air Conditioning Market Overview
The report on Air Conditioning Market provides a comprehensive overview, encompassing market segmentation based on Segmentation and region. It estimates the market's value for the forecasted period, highlighting major opportunities, CAGR, and annual growth rate.
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Air Conditioning Market Report Scope and Research Methodology
The research for this report incorporates a comprehensive market segmentation, covering type, application, form, and region of the Air Conditioning Market. It estimates the market in terms of USD value for the forecasted period, providing major opportunities, Compound Annual Growth Rate (CAGR), and annual growth rate. The report adopts a bottom-up approach to accurately estimate the Air Conditioning Market size. Data from both international and domestic markets are analysed, including landscape analysis, trade insights, and key regions of development, ensuring a thorough market analysis. Additionally, the report includes product development details, such as current technologies, new product launches, and research and development activities, all of which contribute to market growth. For a deeper understanding of market strategies, business segmentation, and the geographic region of major players, the report offers an in-depth analysis.
Air Conditioning Market Regional Insights
North America dominated the largest market share in 2022 and is expected to significantly grow during the forecast period. Asia Pacific is a fast-growing region in a Air Conditioning market. Europe expected a sustainable growth during the forecast period.
Air Conditioning Market Segmentation
by Technology
Manual/Semi-automatic Air conditioning
Automatic air conditioning
by Component
Compressor
Evaporator
Fan
Condenser Coil
by Product
Room/Unitary Air Conditioners
Chillers
VRF Systems
Coolers
Others
by End-User
Automotive
Commercial
Industrial
Residential
Air Conditioning Market Key Players
1. Daikin Industries Ltd.
2. Gree Electrical Appliances, Inc. of Zhuhai
3. United Technologies Corporation
4. Midea Group Co. Ltd.
5. Hitachi-Johnson Controls Air Conditioning, Inc.
6. Ingersoll-Rand plc.
7. LG Electronics Inc.
8. Qingdao Haier Co. Ltd.
9. Panasonic Corporation
10. Toshiba Corporation
11. Eberspaecher
12. Hanon Systems
13. Keihin Corporation
14. Sanden Holdings Corporation
15. Mitsubishi Heavy Industries Ltd.
16. Subros Limited
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Conclusion:
The global air conditioning market is set to experience substantial growth, with an expected CAGR of 9.8% from 2024 to 2030, driven by increasing demand in both residential and commercial sectors. Factors such as rising disposable incomes, technological advancements, and growing infrastructure development in regions like Asia-Pacific and North America are key drivers of this expansion. Despite challenges like high initial costs and energy regulations, the market is poised for significant growth, supported by innovations in energy-efficient systems and a strong focus on meeting evolving consumer preferences.
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