Air Condition (AC) Market Future Developments, Business Insights, End Users, Application and Forecast To 2030

Market Overview

The Air Condition (AC) Market is estimated to reach a significant valuation of USD 176.68 and a CAGR of 8.2% in the forecast period 2022-2030.

The air conditioner has become a major part of residential and commercial sectors. The tremendous population growth is driving the market globally. The installation of air conditioners in corporate offices, commercial places, and other major places has increased. The increased per capita income and the availability of air conditioners in different price ranges have increased the sales rate and revenue of the market. 

Moreover, the climatic conditions in different countries like India, China, etc. get worse during the summer days. People highly prefer to stay in air-conditioned rooms to get rid of heat waves. Therefore, it has brought lucrative opportunities for the Air Condition (AC) Market.

The hospitals and clinics also demand air conditioner systems with advanced technology. The theater and hospitality sector is hugely for commercial air conditioning systems. The industrial players have started widespread production due to the immense demand. Also, consumers prefer energy-efficiency cooling systems, including governments and the public sector. The players are moving into innovation to provide energy-efficient air conditioners to meet the demand. The Air Condition (AC) Market is expected to notice a robust growth rate in the forecast period.

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Market Segments

The Air Condition (AC) Market is segmented into major segments such as technology, type, ducts, end-use, or application. 

The technology segment comprises inverters and non-inverter. The ducts segment has ductless and ducted AC. Moreover, the type segment of the Air Condition (AC) Market comprises unitary, rooftop, and PTAC.

Based on the end-uses and applications, the market is categorized into residential, industrial, and commercial.

Regional Analysis

The research on the geographical growth of the Air Condition (AC) Market showcases its tremendous growth in major regions such as North America, the South American region, Asia-Pacific, Africa, Europe, and the rest of the world. 

The Asia-Pacific is the supreme dominating region of the market. Higher demand for air conditioners is noticed in this region. The major reason behind the market’s growth in this region is due to the presence of strong technical expertise and warm climatic conditions. Moreover, the growing population, urbanization, and industrial growth have become a growth factor in the market.

The North American region has shown steady growth over the past years. This is due to the higher sales rate of AC. The promotional activities hosted by the government for the adoption of energy-efficient air conditioners are driving the regional market. 

Other regions, such as the European region, South America, Africa, etc., are showing decent growth rates and will continue their growth significantly in the forecast period. 

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Industry News

• In August 2022, Vintage Air, an Aftermarket climate control company, announced its new series of air conditioning systems for GM G-Body models. This includes the 1982 to 1988 Oldsmobile Cutlass and the 1986 to 1987 Buick Regal and Buick Grand National.
• In September 2022, Leminar Air Conditioning Company acquired an air conditioner company – Clima Uno Air Conditioning Industries. This move will unite these companies in their mission to offer the most reliable HVAC solutions to the marketplace.

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