Global Air Conditioning Systems Market worth US$ 213.1 Billion 2029 with a CAGR of 5.0%

[Amar Yadav]

The report "Global Air Conditioning Systems Market, by Air Conditioner Type (Slit, Rooftop, Indoor Packaged, and chillers), by Duct Type (Ducted and Ductless), by Technology (Manual/Semi-Automatic and Automatic), by Application (Automotive Air Conditioning, Commercial Air Conditioning, Industrial Air Conditioning, and Residential Air Conditioning), and Region - Global Forecast to 2029". The global air conditioning systems market is projected to grow from US$ 129.2 billion in 2019 to US$ 213.1 billion by 2029. Global air conditioning systems market is expected to register moderate growth over the forecast period. This is attributed to increasing end-use applications of air conditioning systems in cars, hotels, large office buildings, and households and less energy consumption by air conditioning systems create more demands for air conditioning systems.
Key Market Insights from the report:
The global air conditioning systems market accounted for US$ 129.2 billion in 2019 and is projected to register a moderate CAGR of 5.0% over the forecast period. The market report has been segmented on the basis of air conditioner type, duct type, technology, application and region.
• By air conditioner type, the global air conditioning system market is segmented into split, rooftop, indoor packaged, and chillers.
• On the basis of duct type, the global air conditioning system market is segmented into ducted and ductless.
• By technology, automotive air conditioning type segment accounted for major revenue share in 2019. This is attributed to increasing automobile production and higher requirements of consumers for comfort. Automatic air condition provides cooling but also provides warm air required while driving in cold weather.
• On the basis of application, the global air conditioning system market is categorized into automotive air conditioning, commercial air conditioning, industrial air conditioning, and residential air conditioning.
• By region, Asia-Pacific air conditioning system market accounted for major revenue share of the global air conditioning system market and is further anticipated to maintain its dominance over the forecast period. Increasing energy consumption by air conditioning systems as well as development of domestic technologies especially in the China. The market in Europe is expected to account for second-highest revenue share in 2019.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Air Conditioning Systems Market” by Air Conditioner Type (Slit, Rooftop, Indoor Packaged, and chillers), by Duct Type (Ducted and Ductless), by Technology (Manual/Semi-Automatic and Automatic), by Application (Automotive Air Conditioning, Commercial Air Conditioning, Industrial Air Conditioning, and Residential Air Conditioning), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)- forecast till 2029

Key Highlights:
• In February 2018, for instance, Voltas Limited had launched India’s first Window Air Conditioner with DC Inverter technology.
• In year 2010, for instance, Panasonic Corporation had launched “Cube AC” has features are faster cooling and better air flow with a reduced noise level enabled by a highly efficient diagonal propeller fan for wider air discharge.
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The prominent player operating in the global air conditioning system market includes Panasonic Corporation, Mitsubishi Corporation, Midea Group Co., Ltd., LG Electronics, Haier Electronics Group Co., Ltd., Daikin Industries, Ltd., Voltas Limited, Whirlpool Corporation, AB Electrolux (publ), and Hitachi Ltd.
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