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Pulished Date April, 2021
ID: 8981
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Global Air Conditioning Systems Market Analysis - By Product (Portable AC, Window AC and Split AC), By Application (RAC, PAC and VRF), By End-User (Residential, Commercial and Others), By Region ((North America (U.S., Canada), Europe (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of EU), Asia Pacific (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC), Latin America (Brazil, Mexico, Argentina, Chile), Middle East and Africa (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA)) - Industry Size, Share, Trends, Growth, Forecast | 2021 – 2026

Pulished: April, 2021
ID: 8981
Pages: 120

Air Conditioning Systems Market Size, Trends & Forecast (2021 - 2026)

As per the latest research report, the Global Air Conditioning Market was valued USD 135.2 billion in 2021 and is expected to reach around USD 292.7 billion by 2026, at a CAGR of approximately 11.7% for the forecast period from 2021 - 2026.

To maintain healthy indoor air, we need some factors like humidity, temperature and air pressure. These factors keep on changing throughout the year. This could be a challenge when dealing with insufficient ventilation with closed areas. These air conditioning systems are mainly used in residential and commercial spaces too.

The rise in population is influencing the construction industry, which is creating demand for air conditioning systems. The changing climatic conditions across the world due to global warming has resulted in a rise in temperature. In order to survive the hot weather conditions, especially, in the Asia Pacific and the Middle East, people prefer these air conditioning systems.

China is the biggest manufacturer base and also the biggest market for split air conditioning. The Asia Pacific is expected to maintain its leading position in the global air conditioning system market over the next few years. This is driven by growth in consumer awareness, rise in concern towards the environment. In countries like North America and Europe, the demand for replacement of products is primarily driving the business. The demand from new buildings for residential and commercial is mostly promoting the use of these air conditioning systems.

Driving Factors

Changes in the climatic conditions due to increasing greenhouse effects are a key driving factor for the market to grow. Rise in the new entry-level companies and offering huge benefits for the users is additionally fueling the demand of the market.

Major Challenges

However, fluctuations in the prices of the final product are quietly degrading the demand of the global market. Lack of skilled technicians remained a challenging factor for market growth.

Growth Opportunities

The emergence of the latest technologies which helps to lower the electricity bill is likely to bolster the demand of the market further. Growth opportunities for the market lie in the increasing production rate of the electronic devices and also rising disposable income in urbanized areas.




Market Size Available

2018 – 2025

Base Year


Forecast Period

2019 - 2025

Segments Covered

By Product, Application, End-user & Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Daikin Industries Ltd., Gree Electric Appliances, Inc., Carrier Corporation, Panasonic Corporation, Mitsubishi Corporation, The Midea Group, LG Electronics, Haier Electronics Group Co., Ltd., and Hitachi Ltd.


This research report on the Global Air Conditioning Systems Market has been segmented & sub-segmented into the following categories and analyzed market size & forecast until 2025.

Global Air Conditioning Systems Market – By Product

  • Portable AC
  • Window AC
  • Split AC

On the basis of product, the market is segmented into portable, window and split. Split air conditioning systems are leading with the highest shares of the market with the rise in the prevalence of convenient models.

Global Air Conditioning Systems Market – By Application

  • RAC
  • PAC
  • VRF

Global Air Conditioning Systems Market – By End-User

  • Residential
  • Commercial
  • Others

On the basis of end-users, the Commercial segment is accounted for in dominating the highest shares of the market. An increasing number of industries globally is outshining the demand of the market.

Global Air Conditioning Systems Market – By Region

  • North America (U.S., Canada)
  • Europe (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of EU)
  • Asia Pacific (India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC
  • Latin America (Brazil, Mexico, Argentina, Chile)
  • Middle East and Africa (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA)

North America is leading with significant shares of the market by owing to the quick adoption of the latest technology and the launch of specific features for the system. The Asia Pacific and Europe are following North America is dominating the shares of the market with the increasing capital income and also growing support from the government through investments. Latin America and Middle East & Africa are anticipated to have inclined growth rates in the coming years.

Key market players leading the Global Air Conditioning Systems Market profiled in this report are:

  1. Daikin Industries Ltd
  2. Gree Electric Appliances
  3. Carrier Corporation
  4. Panasonic Corporation
  5. Mitsubishi Corporation
  6. The Midea Group, LG Electronics
  7. Haier Electronics Group Co., Ltd
  8. Hitachi Ltd


  1. Introduction
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year and Forecast Periods
    4. General Study Assumptions
  2. Research Methodology
    1. Introduction
    2. Research Phases
        1. Secondary Research
        2. Primary Research
        3. Econometric Modelling
        4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Overview
    1. Executive Summary
    2. Key Inferences
    3. New Developments
  4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
    1. Market Drivers
    2. Market Restraints
    3. Key Challenges
    4. Current Opportunities in the Market
  5. Market Segmentation
    1. By Product
      1. Portable AC
      2. Window AC
      3. Split AC
      4. Others
      5. Y-o-Y Growth Analysis, Product
      6. Market Attractiveness Analysis, By Product
      7. Market Share Analysis, By Product
    2. By Application
      1. RAC
      2. PAC
      3. VRF
      4. Y-o-Y Growth Analysis, By Application
      5. Market Attractiveness Analysis, By Application
      6. Market Share Analysis, By Application
    3. By End-user
      1. Residential
      2. Commercial
      3. Others
  6. Geographical Analysis
    1. Introduction    
      1. Residential             
      2. Non-residential
      3. Car & Transport
      4. Y-o-Y Growth Analysis        
        1. By Geographical Area
        2. By Prints
        3. By Technology
        4. By End-user
      5. Market Attractiveness Analysis      
        1. By Geographical Area
        2. By Prints
        3. By Technology
        4. By End-user
      6.      Market Share Analysis   
        1. By Geographical Area
        2. By Prints
        3. By Technology
        4. By End-user
    2. North America
      1. Introduction
      2. US
      3. Canada
    3. Europe
      1. Introduction
      2. UK
      3. France
      4. Spain
      5. Germany
      6. Italy
    4. Asia-Pacific
      1. Introduction
      2. India
      3. China
      4. Japan
      5. South Korea
      6. Australia
    5. Latin America
      1. Introduction
      2. Brazil
      3. Argentina
      4. Mexico
    6. Middle East & Africa
      1. Introduction
      2. Middle East
      3. Africa
  7. Strategic Analysis
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  8. Market Leaders' Analysis
    1. 3D Systems Corporation
      1. Overview
      2. Product Analysis
      3. Strategic Evaluation and Operations
      4. Financial analysis
      5. Legal issues
      6. Recent Developments
      7. SWOT analysis
      8. Analyst View
    2. Daikin Industries Ltd
    3. Gree Electric Appliances
    4. Carrier Corporation
    5. Panasonic Corporation
    6. Mitsubishi Corporation
    7. The Midea Group, LG Electronics
    8. Haier Electronics Group Co., Ltd
    9. Hitachi Ltd
  9. Competitive Landscape
    1. Market Share Analysis
    2. Agreements, Collaborations and Joint Ventures
    3. New Product Launches
  10. Market Outlook and Investment Opportunities
  11. Appendix
    1. List of Tables
    2. List of Figures  
  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Route Of Administration, Therapeutic Areas along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

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