Increasing temperature and humidity levels along with technological advancements such as air purification technology in air conditioners to drive global air conditioners market through 2023
According to TechSci Research report, “Global Air Conditioners Market By Product Type, By Region, Competition Forecast & Opportunities, 2013-2023”, the global air conditioners market is projected to reach $ 231 billion by 2023, on account of improving lifestyle of middle class population, increasing disposable income of consumers and changing climatic conditions resulting in high temperature and humidity levels, globally. Moreover, global construction output is growing at a rapid pace and the same trend is likely to continue during forecast period as well, thereby boosting demand in the global air conditioners market. Additionally, growing travel & tourism and hospitality sectors across the globe is further pushing deployment of new air conditioners in hotels, airports and other commercial areas. Furthermore, rising technological advancements in air conditioners such as emergence of inverter technology and air purification technology, would further steer growth in global air conditioners market during forecast period.
Light commercial air conditioners, which include splits air conditioners, cassettes, window air conditioners and concealed ductable splits, dominate the global air conditioners market due to their growing demand from residential and commercial sectors. Furthermore, a major demand for air conditioners is emanating from Asia-Pacific due to high demand from countries like China, Japan and India. However, Middle East & Africa is anticipated to emerge as the fastest growing market for air conditioners in the coming years across the globe. Some of the leading players operating in global air conditioners market include Daikin Industries, Ltd., Gree` Electrical Appliances, Inc. of Zhuhai, and United Technologies Corporation, among others.
“Rapid economic development across emerging economies, especially BRICS and Middle East countries, is anticipated to boost growth in global air conditioners market. Moreover, growing demand for energy efficient air conditioners across the globe is leading to replacement of old conventional air conditioners with newer ones. Additionally, leading air conditioner manufacturers such as LG, Samsung, Carrier, Daikin, etc., are offering air conditioners with built-in air purifiers, which are gaining popularity among consumers due to their dual features. Also, average cost of purchasing an air purifier based air conditioners is comparatively lower than the average individual prices of air conditioners and air purifiers. All these aforementioned factors are anticipated to fuel growth in global air conditioners market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Air Conditioners Market By Product Type, By Region, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of global air conditioners market and provides statistics and information on market structure, size, share and future growth of global air conditioners market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in global air conditioners market.
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