According to this latest publication from Meticulous Research®, the Air Conditioners Market is projected to reach $231.3 billion by 2029, at a CAGR of 5.4% during the forecast period of 2022–2029. Based on volume, the global air conditioners market is projected to reach 882.1 million units by 2029, at a CAGR of 6.1% during the forecast period.
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The growth of this market is attributed to the rising demand for energy-efficient air conditioners and consumers’ growing inclination toward convenience and comfort. In addition, the rising adoption of air conditioners with inverter and air purification technologies is expected to offer significant opportunities for the growth of this market. However, air conditioners’ high energy use is a challenge for market growth. Additionally, connected air conditioners and solar photovoltaic (PV) & solar thermal-assisted air conditioning systems are major trends in this market. However, the high costs of air conditioners can restrain the growth of this market. The air conditioners market is segmented by type, tonnage, technology, rating, and end user. The study also evaluates industry competitors and analyzes the market at the region and country levels.
Based on type, the air conditioners market is broadly segmented into window ACs, split ACs, VRF (Variable Refrigerant Flow) systems, centralized/ducted ACs, and other conditioner types.
Based on tonnage, the air conditioners market is broadly segmented into up to 2 ton, 2 ton to 5 ton, 5 ton to 10 ton, and more than 10 ton.
Based on technology, the air conditioners market is broadly segmented into inverter ACs and non-inverter ACs. In 2022, the inverter ACs segment is expected to account for the largest share of the global air conditioners market.
Based on rating, the air conditioners market is broadly segmented into 1 star ACs, 2 star ACs, 3 star ACs, 4 star ACs, and 5 star ACs. In 2022, the 3 star ACs segment is expected to account for the largest share of the global air conditioners market.
Based on end user, the air conditioners market is broadly segmented into residential end users, commercial end users, and industrial end users.
Based on geography, the air conditioners market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
Scope of the report:
Air Conditioners Market by Type
• Window ACs
• Split ACs
• VRF (Variable Refrigerant Flow) Systems
• Centralized/Ducted ACs
• Other Conditioner Types
Air Conditioners Market, by Tonnage
• Up to 2 Ton
• 2 Ton to 5 Ton
• 5 Ton to 10 Ton
• More Than 10 Ton
Air Conditioners Market, by Technology
• Inverter ACs
• Non-Inverter ACs
Air Conditioners Market, by Rating
• 1 Star ACs
• 2 Star ACs
• 3 Star ACs
• 4 Star ACs
• 5 Star ACs
Air Conditioners Market, by End User
• Residential End User
• Commercial End User
• Industrial End User
Air Conditioners Market, by Geography
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Latin America
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/air-conditioners-market-5384
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