The global Air
Conditioner Market size is expected to reach USD 187.62
billion in 2028 and register a revenue CAGR of 5.5% over the forecast period,
according to a latest report by Reports and Data. Market revenue growth is
primarily driven by rising temperature in countries across the globe. In
addition, steady economic growth of developing countries is resulting in rising
sales of various appliances, including air conditioners. Consumers are
purchasing air conditioners as utility products rather than just luxury
products.
This document gives the
latest information on the ongoing COVID-19 pandemic and its aftermath. The
coronavirus pandemic has massively affected every aspect of the global industry
and has resulted in various changes in the market scenario. The ever-evolving
business landscape and the initial and future assessment of the impact are also
examined in the report. The report discusses the significant aspects of the
market and includes expert opinions on the current status, along with
historical data.
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Key Players:
Some major companies in
the market report include Daikin Industries, Ltd., Gree Electric Appliances
Inc., Emerson Electric Co., Midea Group, Hitachi-Johnson Controls Air Conditioning,
Inc., Carrier Global Corporation, LG Electronics Inc., Panasonic Corporation,
Toshiba Corporation, and Haier Group Corporation.
Some Key Highlights from
the Report:
- In January 2021, Panasonic India,
which is a leading diversified technology company, announced the launch of
a new range of air conditioners that are equipped with nanoeX technology
in order to inhibit adhered novel coronavirus. This technology releases hydroxyl
radicals which are capable of inhibiting bacteria viruses, including
99.99% of the adhered novel coronavirus (SARS-coV-2). This technology also
removes 99% PM2.5 particles which ensures a better indoor air quality.
- Split and multi spilt segment is expected
to account for largest revenue share in the global air conditioner market
over the forecast period. Rising temperature & humidity levels across
the world, increasing income levels of consumers in developing countries,
and extension of work from home policy are some significant factors
boosting sales of split and multi spilt air conditioners.
- Online segment is expected to
register robust revenue growth over the forecast period. Availability of
favourable discounts on e-commerce portals is projected to drive revenue
growth of the segment. Besides, rising usage of smartphones is boosting
growth of e-commerce portals in developing countries and further driving
sales of air conditioners.
- Residential segment is expected to
account for a steady revenue share in the global air conditioner market,
owing to rising global temperatures, as well as growth of the affluent
middle class.
- Air conditioner market in Asia
Pacific is expected to account for largest revenue share over the forecast
period. Some manufacturers such as Daikin Industries, Ltd., Gree Electric
Appliances Inc., Midea Group, Hitachi-Johnson Controls Air Conditioning,
Inc., LG Electronics Inc., Panasonic Corporation, Toshiba Corporation, and
Haier Group Corporation, are offering innovative products in order to
increase market share, which, in turn, is expected to boost market growth
in the region.
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Market
Segmentation:
Product Type Outlook
(Revenue, USD Billion; 2018-2028)
- Split & Multi Split
- Window
- Variable Refrigerant Flow (VRF)
- Packaged Air Conditioner (PAC)
- Others (Portables and Chillers)
Distribution Channel
Outlook (Revenue, USD Billion; 2018-2028)
- Online
- Exclusive Stores
- Multi-brand Stores
- Other Channels
End-use Outlook (Revenue,
USD Billion; 2018-2028)
- Residential
- Commercial
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Regional Outlook
(Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Reasons for Buying
this Report:
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward-looking
perspective on different factors driving or restraining market growth
- It provides a six-year forecast
assessed on the basis of how the market is predicted to grow
- It helps in understanding the key
product segments and their future
- It provides pin point analysis of
changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business
decisions by having complete insights of market and by making in-depth
analysis of market segments
- PEST analysis of the market in the
five major regions.
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you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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