AIR CONDITIONER MARKET - GROWTH, TRENDS, AND FORECAST (2019 - 2024)

The Air Conditioner Market is Segmented by Type, End User, Distribution Channel, and Geography.

Market Snapshot

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Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

14%

Key Players:

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Market Overview

The air conditioner market is estimated to register a CAGR value of 14% during 2019-2024. The anticipated growth in the market can be predominantly attributed to soaring temperature and humidity levels across the world along with the rising acceptance of air conditioners as a utility product rather than a luxury product.

  • The emergence of technologically advanced air conditioners, such as air conditioners with inverter and air purification technologies, is further anticipated to positively influence the global air conditioners market through the forecast period.
  • Numerous segments within the air conditioner industry will increase in market size in the coming years, especially the market for smart air conditioners. The rising popularity of smart gadgets that can convert conventional remote-controlled air conditioners into smart devices is likely to be the primary growth driver, leading the global smart air conditioner market.
  • Improvement in housing standards is fuelling the demand for room air conditioners while packaged air conditioners are estimated to grow at a moderate rate with rising permit rate for construction of mall, offices, and industries.
  • Government regulations on refrigerants are forcing the manufacturers to develop energy efficient and eco-friendly products. There have been many technological developments has been observed in the market due to phasing out of key refrigerants. Once the most preferred refrigerants CFCs will be completely replaced by other refrigerants in the next few years.

Scope of the Report

A complete background analysis of the air conditioner market, including the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics and insights, along with key health statistics, is covered in the report.

By Type
Room/Unitary Air Conditioners
Chillers
VRF Systems
Coolers
Others
By End User
Residential
Commercial
Industrial
Automotive
By Distribution Channel
Specialty Stores
Supermarkets/Hypermarkets
Online
Others
Geography
North America
United States
Canada
South America
Brazil
Mexico
Others
Europe
Germany
France
United Kingdom
Others
Asia-Pacific
China
Japan
India
Others
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Others

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Key Market Trends

Room Air Conditioner is on Demand

Global room air conditioners (RAC) demand is reached 96.05 million units in 2017, with a significant increase compared with 2016.

  • The largest market was China, as the world’s single-largest producer of room air conditioners (RAC), as well as the largest buyer in terms of the number of RACs,  procured annually.
  • The second-largest market was Asia, excluding Japan and China.
  • The third largest market is Japan, whose demand reached 8.93 million units with a 6.9% increase. North America reached 8.13 million units with a 1.2% increase, followed by Latin America with 6.09 million units and 5.3% increase, and Europe with 5.83 million units and 8.7% increase.
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Asia-Pacific Region is Anticipated to Grow at Highest Rate

Major demand for air conditioners is from Asia-Pacific due to rapid infrastructure development and rising inclination of people toward lifestyle products across the region.

In the Asia-Pacific region, compared to other types of air conditioners, such as PAC (packaged air conditioners) and room air conditioners (RAC) dominate the market. China is the largest market for air conditioner systems in the world. In China, room air conditioners dominate the market. Japan and India are other important air conditioning markets for global air conditioning manufacturers.

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Competitive Landscape

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance, such as financial information, revenue breakup by segment and by geography, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news.

Major Players

  1. Haier Group Corporation
  2. Daikin Industries Ltd
  3. Hitachi-Johnson Controls Air Conditioning Inc.
  4. LG Electronics Inc.
  5. United Technologies Corporation

* Complete list of players covered available in the table of contents below

consolidated

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Trends Influencing the Air Conditioner Market

    6. 4.6 Value Chain Analysis of the Air Conditioner Market

    7. 4.7 Porter's Five Forces Analysis

    8. 4.8 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Room/Unitary Air Conditioners

      2. 5.1.2 Chillers

      3. 5.1.3 VRF Systems

      4. 5.1.4 Coolers

      5. 5.1.5 Others

    2. 5.2 By End User

      1. 5.2.1 Residential

      2. 5.2.2 Commercial

      3. 5.2.3 Industrial

      4. 5.2.4 Automotive

    3. 5.3 By Distribution Channel

      1. 5.3.1 Specialty Stores

      2. 5.3.2 Supermarkets/Hypermarkets

      3. 5.3.3 Online

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 South America

        1. 5.4.2.1 Brazil

        2. 5.4.2.2 Mexico

        3. 5.4.2.3 Others

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 France

        3. 5.4.3.3 United Kingdom

        4. 5.4.3.4 Others

      4. 5.4.4 Asia-Pacific

        1. 5.4.4.1 China

        2. 5.4.4.2 Japan

        3. 5.4.4.3 India

        4. 5.4.4.4 Others

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 South Africa

        4. 5.4.5.4 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Daikin Industries Ltd

      2. 6.1.2 Gree Electrical Appliances Inc.

      3. 6.1.3 United Technologies Corporation

      4. 6.1.4 Midea Group Co. Ltd

      5. 6.1.5 Hitachi-Johnson Controls Air Conditioning Inc.

      6. 6.1.6 Ingersoll-Rand PLC

      7. 6.1.7 LG Electronics Inc.

      8. 6.1.8 Qingdao Haier Co. Ltd

      9. 6.1.9 Panasonic Corporation

      10. 6.1.10 Toshiba Corporation

      11. 6.1.11 Voltas Limited

      12. 6.1.12 Haier Group Corporation

      13. 6.1.13 Bluestar*

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

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