Air Conditioning Systems Market Research Report 2022-2027: Industry Growth Rate (CAGR 6.3%), Company Share, Forecast

air conditioning system market

SHERIDAN, WYOMING, USA, Oct. 10, 2022 / — According to IMARC Group’s latest research report, titled “Air Conditioning Systems Market Report: Global Industry Trends, Share, Size, Growth, Opportunities, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global air conditioning systems market is expected to grow at a CAGR of 6.3% during the period 2022-2027. Air conditioning systems control and monitor the temperature, humidity, and air movement in a specific space. It includes an automatic cleaning mechanism to protect the device from moisture, dust and mold. It uses inverter compressor technology, which is said to provide faster cooling and longer compressor durability and can adjust cooling capacity based on the number of people in a room to save energy. The different types of air conditioning systems available on the market are, among others, mini split AC, window AC and central AC.

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The best manufacturers of air conditioning systems in the world:

• Transport company
• Electrolux North America, Inc.
• Haier Group Company
• Hitachi-Johnson Controls Air Conditioning Inc.
• Lennox International Inc.
• LG Electronics Inc.
• Midea Group Co., Ltd.
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Samsung Electronics Co. Ltd.

Global industry demand:

The global market is mainly driven by the growing demand for energy efficient air conditioning systems. In this light, the incorporation of air filters in air conditioners to improve air quality by removing pollutants like dust and dirt is another growth factor. Additionally, inflation of disposable incomes and availability of air conditioners of different sizes and designs are positively influencing the market. Apart from this, rising temperatures brought about by global warming are aiding the growth of the market. Moreover, the introduction of technologically advanced air conditioners (AC) such as air conditioners with air purification technologies and inverter technology is creating a positive outlook for the market. Also, the construction of residential units, shopping malls, hospitals, hotels, theaters and auditoriums has increased over time, especially in developing countries. This has catalyzed the need for air conditioning systems to cool and maintain indoor air quality, boosting the market. Additionally, rapid urbanization and growing demand for commercial space is driving the market.

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Key Market Segmentation:

Breakdown by technology:

• Inverter
• Non-inverter

Breakdown by product type:

• Unitary
• Roof
• Others

Breakdown by end user:

• Residential
• Commercial
• Industrial

Breakdown by distribution channel:

• Specialty stores
• Supermarkets and Hypermarkets
• On line
• Others

Breakdown by region:

• North America (United States, Canada)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)

Table of Content of Air Conditioning Systems Market Research Report:

• Preface
• Scope and methodology
• Summary
• Introduction
• Global market for air conditioning systems
• SWOT analysis
• Value chain analysis
• Price analysis
• Competitive landscape

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