Global Air Conditioning Systems Market Report 2021-2026 - Mandatory Guidelines Drive Focus onto Energy Efficient AC Systems

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Aug 16, 2021, 07:15 ET

DUBLIN, Aug. 16, 2021 /PRNewswire/ -- The "Air Conditioning Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Air Conditioning Systems Market to Reach 148.7 Million Units by 2026

Air conditioning is a process that allows cooling, heating, and ventilation of indoor atmosphere. Although the term `air conditioning` is predominantly associated with the cooling process, the process of Air Conditioning Systems also involves humidity control and air cleaning as its key functions.

A major growth driver in the market is the growing consumer awareness over energy efficiency amid rising energy bills and climate change challenges. Energy efficient equipment will witness major gains in the coming years. Amid the COVID-19 crisis, the global market for Air Conditioning Systems estimated at 107.9 Million Units in the year 2020, is projected to reach a revised size of 148.7 Million Units by 2026, growing at a CAGR of 5.6% over the analysis period.

Room Air Conditioners, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach 132.4 Million Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Air Conditioners segment is readjusted to a revised 3.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at 14.3 Million Units in 2021, While China is Forecast to Reach 65.9 Million Units by 2026

The Air Conditioning Systems market in the U.S. is estimated at 14.3 Million Units in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 65.9 Million Units by the 2026 trailing a CAGR of 6.7% over the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR. Research studies have shown that coronavirus could spread through shared air. As per a study conducted by the University of Oregon, coronavirus was found in about 25% of the HVAC systems of hospitals that were treating patients suffering from COVID-19.

Thus, they established that sharing the same air space as coronavirus patients could lead to the spreading of the infection. As a result, air conditioning systems, ventilation, and heating systems are being upgraded prior to reopening of the buildings. Such expensive upgrades are leading to increased demand for portable filter machines and air monitoring systems.

Room Air Conditioners Segment to Reach 132.4 Million Units by 2026

Room air conditioners, often synonymously termed window air conditioners, are mostly used in residential sector. These are highly popular as maintenance and replacement costs are low. Global market for Room Air Conditioners segment is estimated at 94.3 Million Units in 2020, and is projected to reach 132.4 Million Units by 2026 reflecting a compounded annual growth rate of 5.9% over the analysis period.

China constitutes the largest regional market for Room Air Conditioners segment, accounting for 45.3% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.8% over the analysis period, to reach 62.9 Million Units by the year 2026.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2020 Marked as a Year of Disruption & Transformation
COVID-19 Pandemic Significantly Impacts Demand for Air Conditioners Worldwide
Pandemic Drives Efforts to Upgrade HVAC Systems
An Introduction to Air Conditioning Systems
Air Conditioners by Equipment Type
Residential Air Conditioners
Packaged Air Conditioners
Compressors in Air Conditioning Systems
Parts & Accessories Used in Air Conditioning Systems
Air Conditioning Systems by End-Use
Air Conditioning Systems: Climate Change and Rising Temperatures Influence Market Growth
Room Air Conditioners: The Largest Category
Commercial Air Conditioning Market on Growth Path
Developing Economies to Spearhead Long-term Growth
Competition

2. FOCUS ON SELECT PLAYERS (Total 288 Featured)

AB Electrolux
Carrier Corp.
Daikin Air Conditioning Saudi Arabia LLC
Daikin Airconditioning India Pvt. Ltd.
Daikin Industries, Ltd.
GE Appliances
Gree Electric Appliances Inc.
Johnson Controls-Hitachi Air Conditioning
LG Electronics
Midea Group
Mitsubishi Heavy Industries Ltd.
Panasonic Corp.
Samsung Electronics Co., Ltd.
Toshiba Carrier Corp.
Trane Inc.
Whirlpool Corp.

3. MARKET TRENDS & DRIVERS

Residential and Commercial Construction Activity: An Important Indicator of Growth
Deployment of Environment-Friendly Refrigerants Increases in ACs
Green Refrigerants to Replace Hydro Fluorocarbons
Mandatory Guidelines Drive Focus onto Energy Efficient AC Systems
Rise in Adoption of DeVAP systems
Climate Change: An Important Driving Factor for Energy-efficient Air Conditioning Systems
Low-GWP A/C Systems Facilitate GHG Emissions Reduction
Inverter Air Conditioners Find Favor among Consumers
Split ACs and Mini-Splits Surge in Demand
Alternative Energy Sources Garner Attention in Air Conditioning Market
Solar Powered Air Conditioning Systems Gain Traction
Growing Replacement and Refurbishment Demand for HVAC Systems
Drop in Hospitality Industry Hits Demand for Air Conditioning Systems
Air Conditioning Systems: Innovation Trends
Start-ups Offer Innovative Solutions
Smart Air Conditioning On The Rise
Smartphone-Enabled AC Systems: A Key Innovation
AI Improves Energy Efficiency in Heating & Cooling Systems of Buildings
Cloud-Connected Air Conditioning Systems Enable Creation of Smart and Efficient Facilities
Energy Challenge Facing ACs Market
Online Sales Continue to Grab Market Share
Favorable Demographic Trends influence Market Prospects
Ballooning Global Population
Rapid Pace of Urbanization
Growing Middle Class Population
Rising Standards of Living
Market Challenges

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

Market Overview
COVID-19 Pandemic Impacts Market Growth
Recovery in Construction Activity Benefit Demand in Residential and Non-Residential Applications
Commercial Construction Sector
Ductless Systems Find Favor in the US
Demand for Energy Efficient Products on the Rise
Market Analytics

CANADA

JAPAN

Market Overview
AC Industry Focuses on Efforts toward Energy Conservation
Domestic Players Lead Japanese Room AC Market
Market Analytics

CHINA

Market Overview
China: The Global Manufacturing Hub
Demand Rises for Eco-Friendly Appliances in China
Efforts to Phase Out Usage of ODSs in Air Conditioners
R290 to Replace HCFC-22 as Refrigerant in RACs
E-Commerce: An Emerging Trend in the Market
Competition
EXHIBIT 19: Chinese Residential Air Conditioners Market Breakdown by Leading Competitors (in %): 2020E
Market Analytics

EUROPE

Regulatory Initiatives Drive Demand for Energy Efficient Appliances
Split ACs Continue to Dominate
Central and Eastern Europe: The New Focus Area for Market Growth
Phase Out of R22 Calls for Alternate Refrigerants
Market Analytics

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

TURKEY

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

Market Analytics

INDIA

Market Overview
Residential Air Conditioners Market: Poised for Growth
Energy-Efficient Products Foray into the Market
Competitive Landscape

INDONESIA

MALAYSIA

PHILIPPINES

SOUTH KOREA

TAIWAN

THAILAND

VIETNAM

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

Environment Friendly Air Conditioning Witnessing Growth

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION

Total Companies Profiled: 130

For more information about this report visit https://www.researchandmarkets.com/r/ohnsga

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