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Emerging countries economic development and world’s temperature increase are significant factors driving global air conditioning market revenue growth.
Emerging countries economic development and world’s temperature increase are significant factors driving global air conditioning market revenue growth.”
— Emergen Research
VANCOUVER, BC, CANADA, November 17, 2022 /EINPresswire.com/ — According to Emergen Rsearch latest report, titled “Air Conditioning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2030”, the global Air Conditioning market is expected to exhibit a CAGR of 5.9% during 2022-2030. Market revenue growth is primarily driven by factors such as residential and business sectors rapidly using air conditioning systems as a result of fast urbanization and growing global warming caused by population development. Consumer preference for efficient and pleasant air conditioning systems is driving manufacturers to continuously develop technologically green energy-based air conditioning systems.
As the primary cause of global warming is release of dangerous chemicals into atmosphere such as Chlorofluorocarbons (CFC) and Hydro-Chlorofluorocarbons (HCFC), which has an adverse effect on ecosystem and causes ozone layer thinning. In addition, increasing demand for portable and energy-efficient air conditioning systems is driving market revenue growth. Apart from this, demand for energy-efficient air conditioning systems with high-quality air filters has grown as a result of strict government rules addressing environmental degradation, which is driving market revenue growth. By upgrading air filters, AC systems can have a longer lifespan. Consumers are increasingly using HVAC filters owing to high expense of entire system and need to make sure that it lasts the entire expected lifespan.
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Some Key Highlights from the Report
On 25 October 2021, Johnson Control made its building operators empowered enough to track health and wellness metrics and sustainability while reducing waste, water, and energy use, as well as lowering building’s overall carbon footprint.
The wall-mounted segment is expected to register the fastest revenue CAGR during the forecast period. Revenue growth is expected to be driven by rising levels of technological development in manufacturing and construction industries, paradigm shifts toward environment-friendly and sustainable construction practices, growing acceptance of smart homes and smart buildings, and rising preferences for superior waterproofing. During the forecast period, wall air conditioners can be remotely controlled and managed via smart assistants or software on gadgets such as smartphones, tablets, PCs, or general remote controls. Additionally, growing emphasis on green building as well as an increase in rehabilitation and redevelopment plans, particularly in emerging nations, are driving market expansion. For instance, United Nations Framework Convention on Climate Change (UNFCCC) has suggested that specified energy-saving standards must be reached in view of the need to save energy and threat of global warming. As a consequence of advancement of these smart air conditioning systems, manufacturers focus has switched to Heating, Ventilation, and Air Conditioning (HVAC) systems.
The commercial segment is expected to register fastest revenue CAGR during the forecast period. The use of air conditioning systems for business usage is being enhanced through product replacement and retrofitting to reduce energy consumption. As a consequence, the segment’s revenue is growing owing to an increase in use of air conditioning systems in industries including construction, hospitality, tourism, and healthcare. According to statistics released in June 2019 by The Japan Refrigeration and Air Conditioning Industry Association (JRAIA), demand for household air conditioners decreased by 3%,. Additionally, compared to prior years, 2% rise is expected in demand for commercial air conditioning.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are:
Daikin Industries, Ltd., Emerson Electric Co., Midea Group, Johnson Controls–Hitachi Air Conditioning, Carrier, LG Electronics, Panasonic Holdings Corporation, Toshiba Corporation, Haier Group, Samsung, and Mitsubishi Electric Corporation.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Air Conditioning market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Air Conditioning market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Air Conditioning market.
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/air-conditioning-market
Emergen Research has segmented the global air conditioning market based on product type, application, and region:
Product Type Outlook (Revenue, USD Billion 2019-2030)
Window-mounted
Wall-mounted
Celling/ Central-mounted
Portable
Others
End-use Outlook (Revenue, USD Billion; 2019-2030)
Commercial
Residential
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Air Conditioning market expected to boost the growth of the industry in the coming years.
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Radical Highlights of the Air Conditioning Market Report:
Comprehensive overview of the Air Conditioning market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Air Conditioning market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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November 17, 2022, 12:51 GMT
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