(MENAFN- Comserve)
Shibuya-ku, Tokyo, Japan, Japan, Jun 13, 2022, 10:17 /Comserve / -- Air Conditioner market With Top Countries Data, industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The anticipated growth in the market can be predominantly attributed to soaring temperature and humidity levels across the world along with the rising acceptance of air conditioners as a utility product rather than a luxury product. Emergence of technologically advanced air conditioners, such as air conditioners with inverter and air purification technologies, is further anticipated to positively influence the global air conditioners market through the forecast period.
Numerous segments within the air conditioner industry will increase in market size in the coming years, especially the market for smart air conditioners. The rising popularity of smart gadgets that can convert conventional remote-controlled air conditioners into smart devices is likely to be the primary growth driver, leading the global smart air conditioner market. Improvement in housing standards is fuelling the demand for room air conditioners while packaged air conditioners are estimated to grow at a moderate rate with rising permit rates for construction of malls, offices, and industries.
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Government regulations on refrigerants are forcing the manufacturers to develop energy-efficient and eco-friendly products. There have been many technological developments that have been observed in the market due to phasing out of key refrigerants. Once the most preferred refrigerants CFCs will be completely replaced by other refrigerants in the next few years.
Key Market Trends
Room Air Conditioner is on Demand
The largest market was China, as the world's single-largest producer of room air conditioners (RAC), as well as the largest buyer in terms of the number of RACs, procured annually. The second-largest market was Asia, excluding Japan and China. The third-largest market is Japan, whose demand reached 8.93 million units with a 6.9% increase. North America reached 8.13 million units with a 1.2% increase, followed by Latin America with 6.09 million units and a 5.3% increase, and Europe with 5.83 million units and an 8.7% increase.
Asia-Pacific Region is Anticipated to Grow at Fastest Rate
Major demand for air conditioners is from Asia-Pacific due to rapid infrastructure development and rising inclination of people toward lifestyle products across the region.
In the Asia-Pacific region, compared to other types of air conditioners, such as PAC (packaged air conditioners) and room air conditioners (RAC) dominate the market. China is the largest market for air conditioner systems in the world. In China, room air conditioners dominate the market. Japan and India are other important air conditioning markets for global air conditioning manufacturers.
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Competitive Landscape
Competitive landscape analysis provides a detailed strategic analysis of the company's business and performance, such as financial information, revenue breakup by segment and by geography, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news.
1 INTRODUCTION
1.1 Key Deliverables of the Study
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Trends in the Global Air Conditioner and Compressor Market
4.6 Value Chain Analysis of the Global Air Conditioner and Compressor Market
4.7 Porter's Five Forces Analysis
4.8 Technological Innovations
4.9 Impact of COVID- 19 on the Market
5 MARKET SEGMENTATION
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