Air Conditioning Systems Market Size Reach US$ 180.15 billion by 2030

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The global air conditioning systems market size is expected to be worth around US$ 180.15 billion by 2030, according to a new report by Vision Research Reports.

The global air conditioning systems market size was valued at US$ 112.60 billion in 2020 and is anticipated to grow at a CAGR of 7.2% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 180.15 Bn by 2030
Growth Rate CAGR of 7.2% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Type, technology, end-use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Daikin Industries, Ltd.; Mitsubishi Electric Trane HVAC US LLC; Hitachi Ltd.; Carrier Corporation; Whirlpool Corporation

Growth Factors

 Factors such as increasing international tourism, growing consumer spending on home improvement, and introduction of energy-efficient systems, coupled with the rising popularity of green cooling concepts, are expected to drive the market growth over the forecast period.

The spread of the COVID-19 pandemic negatively impacted the demand for air conditioners in 2020 owing to decreased consumer spending. However, the market is expected to revive in 2021 and record a stable growth aided by the changing climate conditions and rising demand from commercial constructions. Additionally, consumers’ growing inclination toward convenience and comfort is expected to upkeep the demand for air conditioners over the forecast period.

By Type Analysis

Unitary ACs accounted for the largest revenue share in 2020 of 39.3% and is expected to record the highest growth over the forecast period. Unitary air conditioners are predominantly used in households.

Apart from unitary ACs, the type segment also includes Packaged Terminal Air Conditioner (PTAC) and rooftop ACs. The PTAC segment is expected to witness a healthy CAGR of 5.1% from 2021 to 2030.

By Technology Analysis

The inverter segment is projected to expand at a CAGR of 8.7% from 2021 to 2030. This growth is attributable to inverter AC’s ability to control the speed of the compressor motor which helps in continuous regulation of temperature.

The non-inverter segment is expected to witness moderate growth as compared to its counterpart. This can be attributed to various factors such as high energy consumption, fluctuating frequencies, and less lifespan.

By End-use Analysis

The commercial segment is anticipated to register a CAGR of 6.0% over the forecast period owing to rapid urbanization and rising demand for commercial space. Commercial AC units require a significant amount of space and are generally located on the rooftops of the buildings such as shopping malls, hotels, big restaurants, theaters, and commercial offices accounting for the optimum energy consumption.

The residential segment will continue to be the mainstay category for several vendors in the market, recording a CAGR of 9.5% in the next seven years. Climate change has resulted in increased temperature across several countries in recent years.

By Regional Analysis

 North American accounted for over 20% of the overall revenue share of the market in 2020. The North American market along with other developed markets around the world is expected to witness growth primarily powered by replacement sales.

The Middle East and Africa suffered the maximum impact due to the outbreak of the COVID-9 pandemic, with a plunge of more the 10% in air conditioning systems demand in 2020. The decline in sales was attributable to traveling restrictions forced by several countries impacting the economy of the Middle Eastern countries.

Key Players

  • Daikin Industries, Ltd.
  • Mitsubishi Electric Trane HVAC US LLC
  • Hitachi Ltd
  • Carrier
  • Whirlpool Corporation
  • Haier Group

Market Segmentation

  • By Type
    • Unitary
    • Rooftop
    • PTAC
  • By Technology
    • Inverter
    • Non-Inverter
  • By End-use
    • Residential
    • Commercial
    • Industrial
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Technology Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Air Conditioning Systems Market, By Type

7.1.  Air Conditioning Systems Market, by Type, 2021-2030

7.1.1.    Unitary

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Rooftop

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    PTAC

7.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Air Conditioning Systems Market, By Technology

8.1.  Air Conditioning Systems Market, by Technology, 2021-2030

8.1.1.    Inverter

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Non-Inverter

8.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Air Conditioning Systems Market, By End-use

9.1.  Air Conditioning Systems Market, by End-use, 2021-2030

9.1.1.    Residential

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Commercial

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Industrial

9.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Air Conditioning Systems Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Type (2017-2030)

10.1.2.  Market Revenue and Forecast, by Technology (2017-2030)

10.1.3.  Market Revenue and Forecast, by End-use (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Type (2017-2030)

10.2.2.  Market Revenue and Forecast, by Technology (2017-2030)

10.2.3.  Market Revenue and Forecast, by End-use (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Type (2017-2030)

10.3.2.  Market Revenue and Forecast, by Technology (2017-2030)

10.3.3.  Market Revenue and Forecast, by End-use (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Type (2017-2030)

10.4.2.  Market Revenue and Forecast, by Technology (2017-2030)

10.4.3.  Market Revenue and Forecast, by End-use (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Type (2017-2030)

10.5.2.  Market Revenue and Forecast, by Technology (2017-2030)

10.5.3.  Market Revenue and Forecast, by End-use (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by End-use (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Technology (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by End-use (2017-2030)

Chapter 11.  Company Profiles

11.1.              Daikin Industries, Ltd.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Mitsubishi Electric Trane HVAC US LLC

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Hitachi Ltd

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              Carrier

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              Whirlpool Corporation

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              Haier Group

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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