The global Air Conditioning market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. One of the major factors driving the growth of the market includes the rapid rise in the global urban population. Ongoing technological advancements to reduce component size and price to increase the affordability of ACs by middle-income individuals is another factor to promote the growth of the air conditioning market, especially in emerging economies across the globe.
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The global air conditioning market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America held major market share in 2020 in the global air conditioning market. The regional growth is attributed to the government promotional activities regards to increase in adoption of energy-efficient air conditioning in order to reduce the consumption of the energy, large capital investments, and high income capacity of consumers.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Air Conditioning Market Report Segment
By Application
- Residential
- Commercial
- Industrial
- Others
By Type
- Split Type & Window AC
- Rooftop
- Indoor Packaged Air Conditioners
- VRF
- Chillers
- Others (AHU/FCU)
By Refrigerant Type
- HCFC (Hydrochlorofluorocarbons)
- HFC (Hydrofluorocarbons)
- HFO ((Hydrofluoric-Olefin))
- Natural Refrigerant
Global Air Conditioning Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2019 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global air conditioning market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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