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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Air Conditioners (AC) Market Regional Analysis
Due to its rapid infrastructural development and growing population preference for lifestyle goods, the Asia Pacific region is anticipated to dominate the market. The market in the region is expanding as a result of a growing middle class, rising temperatures brought on by climate change, and increased consumer spending power. The market is also anticipated to be driven by rising commercial and residential development activity in various Asia Pacific countries, particularly in India and China, along with the consumer preferences for lifestyle items.
North American is expected to witness significant growth in the global air conditioners (AC) market primarily powered by replacement sales. The regional market is anticipated to rise as a result of ongoing technical advancements and increasing government promotional efforts to boost the adoption of energy-efficient air conditioning systems. A rise in use of smart thermostats and inverter air conditioners has contributed to the increased demand for air conditioning systems from both commercial and residential applications.
Air Conditioners (AC) Market Report Snapshots
Air Conditioners (AC) Market Size
Air Conditioners (AC) Market Analysis
Air Conditioners (AC) Companies
Air Conditioners (AC) Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market reached a value of nearly USD 149.51 billion.
The market is projected to grow at a CAGR of 6.8% between 2024 and 2032.
The major drivers of the market include the incorporation of air filters in air conditioners, inflating disposable incomes, growing middle class population, and rising temperatures due to climate change.
Growing consumer awareness regarding energy efficient cooling systems and emergence of technologically advanced air conditioners are the key industry trends.
The major regional markets are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various types of AC in the market are central AC, window AC, and mini split AC, among others.
Based on size, the market is divided into <12K BTU, 12K-36K BTU, 36K-60K BTU, and 60K+ BTU.
The end-uses of the market are commercial and residential.
The several distribution channels in the market are hypermarket, electronic stores, and online, among others.
The major players in the industry are Nortek, AB Electrolux, LG Electronics, DAIKIN INDUSTRIES, Ltd., Fujitsu General Limited, and Johnson Controls, among others.
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