Air conditioning which is regularly referred to as A/C is the process of modifying the properties of air essentially humidity and temperature to more comforting conditions, normally with the aim of dispensing the conditioned air to a space such as a vehicle or a building to enhance the thermal comfort and indoor air quality. In common use, an air conditioner is a device that produces lowers the air temperature. There are different types and varieties of cooling classification which are available in the air condition AC market. Among these classifications the most popular two categories are ductless AC and ducted AC. Both of these categories have variety of applications like commercial, residential, institutional, industries and others.
There are many market growth drivers for air condition (AC) market but few of the prominent reasons for the market to grow are growing population and increasing level of lifestyle. The market for air conditioners will be highly influenced by the growth of population, as the amount of population will grow globally, the population will face increasing level in the lifestyle of the population leading to the growth of demand in air condition market.
According to a recent study report published by the Market Research Future, The global market of Air Conditioners has been increasing. The market is expected to grow at a rapid pace during the forecast period (2017 – 2027). The Air Conditioners Market is forecasted to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2027).
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- Carrier Corporation,
- Daikin Industries Ltd, LG,
- Samsung Ac, Videocon,
- Johnson Controls,
- Lennox, International,
- Panasonic Corporation,
- Petra Engineering Industries Co,
- Siemens AC
The Air Condition Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Product Type : Comprises Split air conditioner, Rooftop air conditioner, Indoor packaged air conditioner, Chillers air conditioner, and others.
Segmentation By Application : Comprises Commercial, Residential, Institutional, Industrial and others.
Segmentation By Ducts : Comprises Ductless, Ducted.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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The North American market is expected to be one of the major markets for air conditions AC. The conventional residents and commercial markets of American countries like US and Canada are the major customers of the air conditions AC market. It is predictable that the market for air conditions will have a huge level of demand in the commercial sector as it has become a common necessity in all of the commercial chains like restaurants, malls, retail sector etc. The air condition market for residential use in North America has major demand and will play a major in the growth of the market. However the North American market is facing a shift towards more energy efficient and air conditions which are easy to install for example split AC units and variable refrigeration flow (VRF) system. With the high level of demand from the commercial and residential market the North American market for air conditions will face huge growth and will have a tremendous growth rate.
The air condition AC market for Asia Pacific is also one of the major markets as it has high level of demand. The Asia Pacific market is facing a huge shift towards the adoption of latest technologies and energy saving cooling solutions. This demand is increased basically due to the rapid growth of population in the Asia Pacific region and also with developing countries like China and India with large amount of populations and has huge scope for development in the countries and increasing level of lifestyles will create demand for air conditions in the Asia Pacific region. Climate factor will also be a huge factor in this region as the Asia Pacific region, as it is expected to have one of the most scorching and humid environment, air conditions AC has become a basic requirement in the residential and commercial markets. Thus by analyzing the demand the Asia Pacific market for air conditions AC is expected to have huge growth rates and will be an established market.