Future Market Insights has announced the addition of the “Air Conditioning Systems Market: Global Industry Analysis and Opportunity Assessment 2014-2020" report to their offering.
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Global Air Conditioning
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The comfort level of living beings depend to a large extent on the surrounding
environment. Temperature, air pressure and humidity are few of the most important
environment variables that keep changing throughout the year. Getting accustomed to
these changes, often becomes difficult for individuals. In order to control the
environmental conditions, air conditioning systems play a vital role. Air conditioning can
be defined as the process of simultaneous control of temperature, moisture, cleanliness
of air and air motion. Air conditioning systems are the devices which enable the process
of air conditioning.
The global air conditioning systems market is segmented on the basis of application such
as industrial air conditioning, commercial air conditioning, residential air conditioning,
and automotive air conditioning. Increasing use of air conditioning systems in residential
setting is estimated to lead the overall market demand with almost 40% of revenue share
and is expected to keep its dominant position during the forecast period. The application
of commercial air conditioning systems is dominated by construction, hotel & tourism
sector followed by healthcare, clinics and hospitals. However individuals using portable
systems for trips and other outdoor activities are expected to fuel the growth of
airconditioning systems during the forecast period.
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Global air conditioning systemsmarket is segmented on the basis of product types such as
room air conditioners, packaged air conditioners, split air conditioners, mini split air
conditioners, ductless air conditioners, terminal air conditioners, central air conditioners,
portable air conditioners and packaged central air conditioners.
Improvement in housing standards is fuelling the demand for room air conditioners while
packaged air conditioners is estimated to grow at a moderate rate with rising permit rate
for construction of mall, offices and industries.Split air conditioning systems on the other
hand offers plenty of benefits including less noise, low initial cost and ease of installation.
It accounts for over half of the overall share in terms of revenue and is estimated to be
thedominant product segment during the forecast period.Portable air conditioners are
highly efficient and compact in nature and are expected to register fastest CAGR for
forecast period, as they do not require everlasting installation and can be moved from
one place to another with ease.
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The global air conditioning systems market is expected togrow almost twofold with a
double digit CAGR for the forecast period. As of 2013 APAC is the largest market for
global air conditioning systems market with almost 30% of market share followed by
North America and Europe. Higher disposable incomes followed by improved lifestyle
arekey growth factors for the APAC market.Europe is estimated to register high growth
rate with an increase in infrastructure development supported by varying weather
conditions, and take leadin global air conditioning systems market by 2020. Diverse
weather conditions, demand for energy efficient products, technological development
and increasing demand from end user sectors is fuelling the growth of global air
conditioning systems market.
Use of air condition systems working on solar power and other conventional sources is
the upcoming trend in global air conditioning system market. Strict power consumption
and energy regulation norms supported by increasing consumer awareness is a key
challenge for the air conditioning systems market.
Major players in the global air conditioning systems market include Daikin Industries Ltd,
Samsung Electronics, Hitachi Ltd amongst numerous other players.Key players have
adopted strategies including joint ventures along with mergers and acquisitions to
expandglobally and are simultaneously improving their distribution network to establish
strong market presence.
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Diverse weather conditions, demand for energy efficient products, technological
development and increasing demand from end user sectors is expected to fuel the
growth of global air conditioning systems market in the coming future
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