Press Release

Air Conditioner Market to Cross $155 Billion by 2022

Rapid economic development in emerging economies, and increasing demand from residential and commercial sectors to drive global air conditioners market during the forecast period

According to TechSci Research report, GlobalAir Conditioners Market By Product Type, By Region, Competition Forecast & Opportunities, 2012-2022, global air conditioners market is projected to reach $155 billion by 2022, on account of booming construction sector, changing lifestyle of middle class population, increasing disposable income of consumers and changing climatic conditions. Global construction output stood at USD9.60 trillion in 2015 and this is projected to grow at a CAGR of around 4.5% through 2020, thereby boosting growth in global air conditioners market. Additionally, growing travel & tourism and hospitality sectors across the globe have also increased deployment of new air conditioners in hotels, airports and other commercial areas. In 2016, global GDP growth was estimated to be around 3.40%. Growth in per capita income induces increase in spending capacities and thus provides huge scope for growth for global air conditioners market

Light commercial air conditioners, which includes splits air conditioners, cassettes, window air conditioners and concealed ductable splits, dominate global air conditioners market due to growing demand from residential as well as commercial sectors. Additionally, the global market is also witnessing growing demand for inverter technology based air conditioners. Further, Asia-Pacific dominated demand for air conditioners across the globe, due to high demand from China, Japan, and India. Middle East & Africa is emerging as the fastest growing market for air conditioners across the globe. Few of the leading players operating in global air conditioners market include Daikin, Gree, Midea, Carrier and Mitsubishi Electric.

“Rapid economic development across emerging economies, especially BRICS and Middle East countries is anticipated to boost growth in global air conditioners market. Moreover, growing demand for energy efficient air conditioners across the globe is leading to replacement of old air conditioners with newer ones. With increasing awareness among consumers about air pollution and its adverse impact on health, global air conditioners market witnessed significant growth during 2012-2016. Consequently, leading air conditioner manufacturers such as LG, Samsung, Carrier, Daikin, etc., are offering air conditioners with built-in air purifiers, which are gaining popularity among consumers due to their dual features. Moreover, average cost of purchasing air purifier based air conditioners is comparatively lower than average price of purchasing air conditioners and air purifiers. This is anticipated to boost sales in global air conditioners market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 

“Global Air Conditioners Market By Product Type, By Region, Competition Forecast & Opportunities, 2012-2022” has evaluated the future growth potential of global air conditioners market and provides statistics and information on market structure, size, share and future growth of global air conditioners market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in global air conditioners market.


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