Air Conditioners Market to Cross $ 231 Billion by 2023
Increasing temperature and humidity levels
along with technological advancements such as air purification technology in
air conditioners to drive global air conditioners market through 2023
According to TechSci Research report, “Global
Air Conditioners Market By Product Type, By Region, Competition Forecast
& Opportunities, 2013-2023”, the global
air conditioners market is projected
to reach $ 231 billion by 2023, on account of improving lifestyle of middle class
population, increasing disposable income of consumers and changing climatic
conditions resulting in high temperature and humidity levels, globally. Moreover, global construction output is growing at a rapid pace and
the same trend is likely to continue during forecast period as well, thereby
boosting demand in the global air conditioners market. Additionally,
growing travel & tourism and hospitality sectors across the globe is
further pushing deployment of new air conditioners in hotels, airports and other commercial areas. Furthermore, rising
technological advancements in air conditioners such as emergence of
inverter technology and air purification technology, would further steer growth
in global air conditioners market during forecast period.
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Market"
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Light commercial air conditioners, which include splits
air conditioners, cassettes, window air conditioners and concealed ductable
splits, dominate the global air conditioners
market due to their growing demand from residential and commercial sectors. Furthermore,
a major demand for air conditioners is emanating from Asia-Pacific due to high
demand from countries like China,
Japan and India. However, Middle East & Africa is anticipated to emerge as
the fastest growing market for air conditioners in the coming years across the
globe. Some of the leading players operating in global air conditioners market
include Daikin Industries, Ltd., Gree` Electrical Appliances, Inc. of Zhuhai, and
United Technologies Corporation, among others.
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“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 conventional
air conditioners with newer ones. Additionally, 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. Also, average cost of purchasing an air
purifier based air conditioners is comparatively lower than the average individual
prices of air conditioners and air purifiers. All these aforementioned factors
are anticipated to fuel growth in global air conditioners market over the next
five 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, 2013-2023” 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 decisions.
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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