Latest News- Air Conditioning (AC) Market: Split is expected to lead the Product segment during 2025-2029

The Air Conditioning (AC) Market is being driven by Rise in residential construction activity

The Air Conditioning (AC) Market is expected to grow at a CAGR of 2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 14119.2 million. In the Air Conditioning (AC) market, refrigerants play a crucial role in providing cooling and refrigeration by absorbing heat from the environment. Manufacturers employ various refrigerants, with R-410A being widely used due to its zero-ozone depletion potential (ODP) and low global warming potential (GWP). However, R-410A's energy consumption is higher than other alternatives. Consequently, industry players are transitioning to R32 refrigerants, which offer up to 10% energy savings and a three-fold reduction in GWP compared to R-410A and R-22. This shift towards R32 refrigerants not only reduces electricity consumption and CO2 emissions but also contributes to a more sustainable AC market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Split
  • Chillers
  • Airside
  • Others
• Distribution Channel
  • Offline
  • Online
• End-user
  • Residential
  • Commercial
  • Industrial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in residential construction activity
• Product innovation leading to portfolio extension and product premiumization
• Increasing demand for inverter air conditioners

However, the market also witnesses some limitations, which are as follows:

• Volatility in operating costs and raw material prices
• Rising energy consumption
• Stringent regulations associated with air conditioning products

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Market Scope in Air Conditioning (AC) Market Research Report

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Research Analysis Overview

The Air Conditioning (AC) business is thriving, driven by the demand for smart air conditioners and various types, including packaged and room models. Urbanization and rising global temperatures fuel this need in both residential and commercial sectors, such as residential buildings, office buildings, retail spaces, and healthcare facilities. Ecologically conscious goods, like those with NanoeX technology and recycled materials, are increasingly popular. Energy efficiency, indoor air quality, and user comfort are key considerations, with air filtration systems addressing allergens, pollutants, and humidity levels. Smart technology, including those controlled via smartphones, is a major trend. The residential and commercial segments feature room ACs for windows and split ACs for larger spaces.

Market Research Overview

The Air Conditioning (AC) business is a significant segment within the broader context of the global household appliances market. Specifically, it encompasses the production and sales of smart air conditioners, packaged units, and room air conditioners. This market segment is experiencing robust growth due to escalating urban temperatures and increasing demand from both residential and commercial sectors, particularly in office buildings. The smart AC segment, in particular, is gaining traction due to its energy efficiency and advanced features. Overall, the global household appliances market, excluding televisions, consumer electronics, personal computers, machine tools, agriculture equipment, and other non-appliance categories, is segmented into major household appliances, small household appliances, hand tools, power tools, and air conditioning systems.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/