Asia-Pacific air conditioning market is forecast to grow at a significant growth rate at a CAGR of 4.4% during the forecast period. Some of the major factors which are providing a significant market to the region are increasing urbanization, adverse climate change, and increasing disposable income in the emerging economies. Most of the countries in the Asia-Pacific region are developing countries, therefore, the countries have some relief in the usage of HCFC as per the Montreal Protocol. 

Rapid urbanization in Asia-Pacific has led to the widespread adoption of energy-intensive ways of cooling the interior spaces. Asia-Pacific is one of the major regions experiencing significant growth in terms of AC adoption. Very high demand for this equipment has been recorded in growing countries such as China, Japan, and India which is driving the market. Asia-Pacific AC market is having a paradigm shift towards the rapid adoption of the latest technologies and various environmentally friendly cooling solutions, which include the VRF technology and R32 low GWP refrigerants. Moreover, the introduction of different regulatory scenarios such as the Indian Bureau of Energy Efficiency and Labelling Standards and Australian Minimum energy performance standards, which focuses on the development of energy and green building across the Asia-Pacific is providing a significant opportunity to the market. 

Some of the major environmental issues such as global warming and various other concerns are gradually increasing as ACS consists of several hazardous components such as hydrofluorocarbons which are responsible for deleting the ozone layer and cause the ozone layer depletion. It further led to the introduction of regulatory standards for the manufacturing of the AC systems. The main aim of these regulations is to produce the AC consisting of more efficacy and environmentally friendly. This, in turn, has benefited the consumers by extensively reducing the overall energy spending. 

On the basis of geography, the market is segmented into China, India, Japan, and Rest of APAC. During the forecast period, India is expected to show a significant growth rate in the market owing to the increasing disposable income of the people. Moreover, China will hold the major market share in the region. Apart from these major countries South Korea, Australia, ASEAN countries are also expected to have a significant market during the forecast period. 

The companies which are contributing significantly in the market include Blue Star Ltd., Daikin Industries Ltd., Electrolux AB, Fujitsu General Ltd., Haier Electronics Group Co. Ltd., Hitachi Ltd., Johnson Controls International PLC, LG Electronics Inc., Midea Group, Panasonic Corp., Samsung Electronics Co., Ltd., The Whirlpool Corp., Toshiba Corp., United Technologies Corp., Voltas Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. 

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for AC manufacturers, AC component manufacturers, automobile companies, chemical companies, government organizations, venture capitalists for the comprehensive market analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Air Conditioning Market Research and Analysis by Application 
2. Asia-Pacific Air Conditioning Market Research and Analysis by Type
3. Asia-Pacific Air Conditioning Market Research and Analysis by Refrigerant Type

The Report Covers

• Comprehensive research methodology of Asia-Pacific Air Conditioning market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting Asia-Pacific Air Conditioning market.
• Insights about market determinants that are stimulating Asia-Pacific Air Conditioning market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.