Air conditioning: Key market research findings
- Rapid adoption of inverter ACs
- Growing popularity of split ACs
Technavio has added a new market research report on the global air conditioning market, which is expected to grow at a CAGR of around 8% between 2016 and 2020. Rising demand for solar-power air conditioning is a factor driving this market’s growth. APAC dominates the global market for air conditioning, occupying around 62% of the overall market share. The region is expected to lead the market during the forecast period owing to the large population and the fact that air conditioners are manufactured in the region
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Inverter-type ACs are gaining traction in the market because they reduce energy consumption by about 30%, besides having less installation costs. These ACs have a variable speed compressor that switches off upon attaining the desired temperature and switches on when the temperature changes. Also, the vendors have come up with advance features for these ACS such as sleep-state technology, wherein a sensor detects when users fall asleep and controls the temperature settings for better comfort,” says Faizan Akhtar, Lead Analyst, New Coverage, Technavio Research.
Split ACs account for around 76% of the overall market share in the global air conditioning market. Much of this segment’s growth comes from the replacement of window units by energy-efficient split ACs. These ACs provide even temperature distribution and allow for the use of both single and multi-systems. The market is witnessing considerable shift towards inverter-based split ACs, owing to their energy efficiency.
The leading vendors in the global air conditioning market are Daikin, Gree Electric Appliances, Toshiba Carrier, Midea, Mitsubishi Electric, and Panasonic. The market is highly fragmented with the presence of a large number of well-diversified players that are extremely competitive. The market is characterized by the presence of well-diversified international, regional, and local vendors. The market is expected to witness consolidation over the next four years.
A more detailed analysis is available in the Technavio report, Global Air Conditioning Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global Data Center Precision Air Conditioning Market 2015-2019
- Global Central Air Conditioning System Market 2014-2018
- Air Conditioning Market in India 2014-2018
- Global Precision Air Conditioning Market 2014-2018
- Global Portable Air Conditioning System Market 2014-2018
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