Market Size of Global Air Conditioner Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 201.78 Billion |
| Market Size (2029) | USD 259.49 Billion |
| CAGR (2024 - 2029) | 5.15 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Air Conditioner Market Analysis
The Global Air Conditioner Market size is estimated at USD 201.78 billion in 2024, and is expected to reach USD 259.49 billion by 2029, growing at a CAGR of 5.15% during the forecast period (2024-2029).
The rising global temperatures and humidity levels and the growing recognition of air conditioners as a utility rather than luxury goods are predicted to drive significant growth in the air conditioning (AC) business. Driven by the introduction of sophisticated air conditioners, including models equipped with air purification systems and inverters, the AC market is anticipating growth in the forecast period.
The worldwide supply chain and market demand were both affected by the COVID-19 outbreak. China plays a significant role in the air conditioner market. Still, it also exports a variety of input supplies, which are needed to make finished items, to a wide range of nations. Due to the closure of their operations in China, other American and European air conditioning manufacturers have been forced to stop producing final goods temporarily. As a result, the market's imbalance between supply and demand widened.
The primary growth factor driving the smart air conditioner market is the growing adoption of smart devices that can transform traditional remote-controlled air conditioners into smart devices. While packaged air conditioners are expected to expand at a moderate rate due to rising permit rates for the development of malls, offices, and industries, the demand for room air conditioners is being driven by improvements in housing standards.
