The global air conditioning market is anticipated to grow at a moderate CAGR of 9.7%during the forecast period (2022-2028). The market growth is mainly driven by the increasing urbanization, technological advancements, and growing demand for inverter air conditioning, among others. Increase in urbanization not only affects the human aspects but also has a broader impact on business specially consumer appliances. People who often shift to urban area have much higher income as compared to others, so the citizenry will look to spend more on discretionary purchases such as electronic machinery and its equipment. So, it will lead to generating more and more need and demand of air conditioner and further the utilization of the same.
Browse the full report description Global Air Conditioning Market by Application (Residential, Commercial, Industrial, and Others), By Type (Split & Window AC, Rooftop, Indoor Packaged ACs, VRF, Chiller, and Others), By Refrigerant Type (HCFC, HFC, HFO, and Natural Refrigerant), and Forecast 2020-2027 at https://www.omrglobal.com/industry-reports/air-conditioning-market
Additionally, new product launches to meet the demand for customization is another key factor enlarging the growth and development of the air conditioning industry. For instance, in January 2020, Daikin had launched first ever European VRF air conditioning system which would be run on the lower GWP refrigerant R32. The presence of the new technology into the product is there for making the VRF5 as an east to install same as the model R410A. These were developed for residential and commercial application along with careful installation and low noise when compared with mini VRV IV-S. This new VRF5 series will have 40.0% reduction in height and 10.0% decreased in volume.
Market Coverage
Segment Covered-
Regions Covered-
Competitive Landscape-Blue Star Ltd., Daikin Industries, Ltd., Hitachi, Ltd., LG Electronics., Voltas Ltd.
Key Questions Addressed by the Report
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Air Conditioning Market Report Segment
By Application
By Type
By Refrigerant Type
Global Air Conditioning Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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