The Air-Conditioning Equipment Global Market Report 2023 by The Business Research Company, provides air-conditioning equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Air-Conditioning Equipment Global Market Report 2023, the market size will grow from $222.27 billion in 2022 to $231.53 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global air-conditioning equipment is expected to grow to $281.59 billion in 2027 at a CAGR of 5.0%.
Increasing urbanization and industrialization are projected to boost the demand for air-conditioning equipment during the forecast period. The surge in urban population and the growing number of industrial activities are expected to generate a high requirement for HVAC equipment including air-conditioning equipment.
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The air-conditioning equipment market is segmented:
1) By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Chillers, Absorption Liquid Chillers
2) By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
3) By Application: Residential, Commercial
The development of sustainable systems is a key trend in the air-conditioning equipment market. Sustainable systems such as solar-powered air-conditioning equipment systems are becoming more popular as people look for ways to reduce their carbon footprint. Major companies in the market are focusing on developing such systems. For example, in 2022, US based HVAC equipment manufacturer, iAIRE launched its patented Solar HVAC for homes and businesses across all industries in the USA, in order to provide Americans access to high-quality and energy-saving resources. The system has cost savings on equipment, installation and operations and also works up to 50% more effectively than other systems.
Top Major Players
Daikin Industries Ltd.,
Lennox International Inc.,
Hitachi Ltd.,
Panasonic Corporation,
Electrolux AB
The air-conditioning equipment market report table of contents includes:
- Executive Summary
- Air-Conditioning Equipment Market Characteristics
- Air-Conditioning Equipment Market Trends And Strategies
- Air-Conditioning Equipment Market – Macro Economic Scenario
- Air-Conditioning Equipment Market Size And Growth
- Air-Conditioning Equipment Market Segmentation
- Air-Conditioning Equipment Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Air-Conditioning Equipment Market
- Air-Conditioning Equipment Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Air-Conditioning Equipment Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Air-Conditioning Equipment Market, Segmentation By Components, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Air-Conditioning Equipment Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 46: Daikin Industries Ltd. Financial Performance
Table 47: Lennox International Inc. Financial Performance
Table 48: Hitachi Ltd. Financial Performance
Table 49: Panasonic Corporation Financial Performance
Table 50: Electrolux AB Financial Performance
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