A recent report published by Infinium Global Research on air conditioning systems market provides in-depth analysis of segments and sub-segments in global as well as regional air conditioning systems market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional air conditioning systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global air conditioning systems market. According to the report the global air conditioning systems market is projected to grow at a CAGR of 5.5% over the forecast period of 2018-2024.
Air conditioning is the process of changing the properties of air primarily temperature and humidity to more favorable conditions. In construction, a complete system of heating, ventilation and air conditioning are referred to as HVAC. The main function of an air conditioning system is mainly to produce cool ventilation inside the building in which the heat is taken out from a certain location to give a chilled air effect.
Improvement in housing standards is the factor driving the growth of the air conditioning systems market. Additionally, Regulatory norms of electrical appliances have necessitated the production of energy efficient systems and migration from traditional equipment this, in turn, is fuelling the demand for air conditioners systems market over the forecast period. On the other hand, split air conditioners offer plenty of benefits including less noise, low initial cost, and ease of installation. However, individuals using portable systems for trips and other outdoor activities are expected to fuel the growth of air-conditioning systems during the forecast period.
Furthermore, manufacturer within the global air conditioning is adopting green technologies and advanced technologies that are making air conditioners systems energy efficient. This, in turn, is providing several opportunities for the key players in the global air conditioning systems market. Moreover, the trend of green technology and smart homes are expected to create several growth opportunities for the global air conditioning systems.
Among the geographies, Asia-Pacific is dominating the global air conditioners systems market. The demand for air conditioners in the Asia-Pacific is likely driven by India, China, and Japan. Rising number of the automobile is contributing to the growth of the Air conditioning market in Asia-Pacific regions. Moreover, Europe is anticipated to witness a moderate growth owing to the growing awareness about energy-efficient air conditioning systems in building automation, and control has driven its demand in the European regions. On the other hand, the changing standards of American society ongoing technological evolution, and the presence of several regulatory policies have been accelerating the demand for energy-efficient, technologically advanced, and eco-friendly air conditioning systems in North America.
The report on global air conditioning systems market covers segments such as type and end-use. On the basis of type the global air conditioning systems market is categorized into portable air conditioning systems, central air conditioning system, split air conditioning systems, packaged air conditioning systems, chillers and others. On the basis of end use, the global air conditioning systems market is categorized into residential, commercial, industrial and automotive.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global air conditioning systems market such as Voltas Ltd, LG Corporation, Haier Group Corporation, Daikin Industries Ltd, Samsung Electronics Corp, Carrier Corporation, Blue Star, Hitachi Ltd, Whirlpool Corporation and Panasonic Corporation.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global air conditioning systems market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of air conditioning systems market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the air conditioning systems market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the air conditioning systems market to understand the present and future trends in this market and formulate their strategies accordingly.
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