Global air conditioner market expanded at a CAGR of 8% from 2008 to 2014. It is expected to grow at a CAGR of 4.9% from 2015 till 2019. Demand will increase owing to rising awareness regarding energy efficiency all over the world. This is especially applicable to developed economies of North America and Europe. These regions have a high penetration of air conditioning systems.
Demand is also buoyed by stringent regulations for electrical appliances which have prompted consumption of energy-efficient systems. They also necessitate migration from traditional equipment. Consumers are increasingly becoming conscious of environmental conservation. This has created huge market opportunities. Technological innovation is resulting in the introduction of superior products. This is also having a favorable impact on market growth. Key application categories in the global air conditioner market are commercial, residential and industrial. Commercial applications (construction, tourism, etc.) are foreseen to grow to a considerable extent.
Main product segments include self-contained wall and window air conditioners, air conditioner parts, vehicle air conditioners, and others. Others comprise air conditioners with refrigerating unit, air conditioners without refrigerating unit, and air conditioners with reverse cycle refrigeration. Presently, vehicle air conditioners account for 3% of the total demand. Self-contained wall and window systems were the dominant type and hold over 40% of the market. Parts occupy close to 35% of the market volumes. While systems with refrigeration units contribute 9%, those without refrigeration units account for 4.9% share.
Key regional markets are the U.S. in North America, Italy in Europe, and Japan, China, and South Korea in the Asia Pacific. Future growth will occur in Peru, Morocco, Bolivia, and Ethiopia. Bolivia is anticipated to grow at the highest rate, with an expected CAGR of 11.9% in the coming years. Estimated CAGR of Morocco and Ethiopia is 10.5% and 9.4% respectively.
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Regional market players often introduce products that are priced lower than those of established global brands. China is home to several such manufacturers. Popular brands are forced to cut product prices in order to cater to price-sensitive customers. This adversely affects their profitability. Mergers, acquisitions and collaborations are a few strategies employed by participants to stay competitive and gain customer base. Electrolux, Samsung, Panasonic, Hitachi, and Daikin are some of the prominent players in the worldwide air conditioner market.
The latest market data for this research include:
• Overall air conditioner market size, 2008-2019
• Air conditioner market size by product segment, 2008-2019
• Growth rates of the overall air conditioner market and different product segments, 2008-2019
• Shares of different product segments of the overall air conditioner market, 2008, 2014 and 2019
• Market Potential Rates of the overall air conditioner market and different product segments
The product segmets discussed in the data reports include:
• Vehicle air conditioners
• Self-contained wall and window type air conditioners
• Other air conditioners with reverse cycle refrigeration
• Other air conditioners with refrigerating unit
• Other air conditioners without refrigerating unit
• Air conditioner parts
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Among the key reasons to purchase include the following:
• Gain an outlook of the historic development, current market situation, and future outlook of the air conditioner market in the world to 2019
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