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
- North America
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Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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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