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Air Conditioning Systems Market Size, Share 2025 | Industry Report

Air Conditioning Systems Market Analysis Report By Type, By Technology, By End Use, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619891  |  Published: July 2020  |  No of Pages: 110
Format: Electronic (PDF)  |  Industry: HVAC (Heating, Ventilation, & Air Conditioning)  |  Publisher: Grand View Research

Industry Insights

The air conditioning systems market size across the globe was valued at USD 102.02 billion in the year 2018. It is anticipated to witness a CAGR of 9.9% during the forecasted period, 2019 to 2025. The rising need for maintenance of temperature, air pressure, and humidity in the atmospheric air for good ventilation is gaining traction across the globe. Also, as these properties vary according to time, their adaptation is quite challenging among human beings. Thus, the demand for such systems is further expected to fuel up owing to the ability to control these factors.

The construction of several infrastructure facilities like hotels, hospitals, multiplexes, and auditorium is surging across the globe. This growth is anticipated to drive the market demand for A.C.s (air conditioning systems). For example, the Government of Oman has started investing in several construction projects which are projected to create demand for such systems.

Asia Pacific air conditioning systems market size

Also, rising tourism and construction industries across the globe are generating demand for A.C. systems. Several external factors like increased disposable income and surging customer inclination towards usage of energy-efficient devices are projected to drive the market demand for A.C. systems.

Many statutory governing bodies are engaged in promoting the usage of energy-efficient devices. For example, EESL (Energy Efficiency Services Limited) had announced the launching of a program named Super-Efficient Air Conditioning in 2019 that was aimed at reducing energy consumption.

Type Insights

The air conditioning systems market can be segmented into the rooftop, unitary, and PTAC (Packaged Terminal Air Conditioner) based on their types. In 2018, the unitary type segment dominated the global market. This can be attributed to the rising demand for unitary A.C.s in households. Further, the surging growth of the residential end-use segment is projected to drive its demand.

In 2018, the segment of rooftop accounted for a share of 30% across the global market. It is projected to witness growth with around 5.0% CAGR during the forecasted years, 2019 to 2025. This can be attributed to its features like cost-effectiveness, enhanced air quality, and more flexibility. Also, rising construction activities of commercial buildings and malls are projected to drive market growth in the upcoming years.

Technology Insights

In 2018, the inverter technology segment dominated the global market. It is also projected to register significant growth from 2019 to 2025. This can be attributed to the rapidly increasing demand for energy-efficient systems coupled with the ability of new systems to replace conventional ones. Further, features like cost-effectiveness and operation at various speeds are projected to fuel up the market growth in the upcoming years.

The segment of non-inverter technology is projected to register moderate growth in the upcoming years as compared to that of the inverter. This can be associated with features like fluctuating frequencies, more energy consumption, and reduced lifespan. But, lower prices of these systems are anticipated to improve the market growth from 2019 to 2025. 

End-Use Insights

The air conditioning system market can be segmented into commercial, residential, and industrial based on its end-use. The segment of residential is projected to value around 100 Billion by 2025. This can be associated with their rising usage of such systems in houses for air ventilation.

Global air conditioning systems market share

The commercial segment is projected to witness more than 6.0% CAGR during the forecasted years, 2019 to 2025. This can be associated with the increasing investments being made for infrastructure development and refurbishment. Moreover, the construction of several office buildings, hotels, hospitals, colleges, schools, and other educational centers is projected to drive the demand for commercial A.C. systems across the globe.

Regional Insights

North America held a share of around 15% across the global A.C. systems market. This can be associated with the surging adoption of such systems for air ventilation across this region coupled with the rising disposable income prevailing among the millennial population. Moreover, increasing promotional activities being undertaken by statutory governing bodies to facilitate the adoption of energy savings is projected to drive market growth in the upcoming years.

In 2018 the Asia Pacific dominated the global market with a share exceeding 50.0%. It is also projected to generate revenue of USD 130.0 Billion by 2025. This can be attributed to the surging usage of such systems across countries like India and China. Also, strong competition among key players across China on account of the low cost of products is projected to drive market growth.

Air Conditioning Systems Market Share Insights

The key players in the market are ALFA LAVAL, Daikin Industries, Carrier Corporation, Electrolux, Haier, Inc., Hitachi Ltd., Whirlpool Corporation, and Ingersoll-Rand plc. They are engaged in product development and innovation to gain a competitive advantage over other players.

They are also implementing several strategies like collaborations, acquisitions, mergers, and joint ventures to widen their product reach. For example, Ingersoll-Rand plc gained acquisition over ICS Group Holdings Limited in 2018, to cater to the emerging European market.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion, Volume in Thousand Units, and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country Scope

U.S., Canada, U.K., Germany, France, China, India, Japan, Brazil, and Mexico

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global air conditioning systems market on the basis of type, technology, end-use, and region:

• Type Outlook (Volume, Thousand Units; Revenue, USD Billion, 2014 - 2025)
    • Unitary
    • Rooftop
    • PTAC

• Technology Outlook (Volume, Thousand Units; Revenue, USD Billion, 2014 - 2025)
    • Inverter
    • Non-inverter

• End-Use Outlook (Volume, Thousand Units; Revenue, USD Billion, 2014 - 2025)
    • Residential
    • Commercial
    • Industrial

• Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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