Air Conditioning Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR43846
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The air conditioning market share is expected to increase by USD 19.60 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3%.

This air conditioning market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by product (Splits, Chillers, Airside, and Others) and geography (APAC, Europe, North America, MEA, and South America). The air conditioning market report also offers information on several market vendors, including AB Electrolux, Daikin Industries Ltd., Haier Smart Home Co. Ltd., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Toshiba Corp., and Whirlpool Corp. among others.

What will the Air Conditioning Market Size be During the Forecast Period?

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Air Conditioning Market: Key Drivers and Challenges

The rise in residential construction activity is notably driving the air conditioning market growth, although factors such as safety issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the air conditioning industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Air Conditioning Market

The increasing residential construction activity is one of the key drivers for the market in focus. Direct investment in real estate increased to USD 9.6 trillion in 2019. This will drive construction activities and infrastructure development. The global residential real estate market is witnessing a growth momentum. Such growth in residential construction is anticipated to drive demand for air conditioning solutions during the forecast period.

Key Challenge for the Air Conditioning Market 

Safety issues are one of the key challenges for the market in focus. There are various government and non-government regulatory bodies across the world that effectively ensure the safety of electronic appliances that are sold to consumers. These standards ensure consumer safety from potential safety hazards. The safety concerns and issues discourage the adoption of such products by consumers due to the fear of safety hazards. This can pose a challenge to the growth of the global air conditioning market during the forecast period. 

This air conditioning market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Air Conditioning Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB Electrolux
  • Daikin Industries Ltd.
  • Haier Smart Home Co. Ltd.
  • Johnson Controls International Plc
  • LG Electronics Inc.
  • Mitsubishi Electric Corp.
  • Panasonic Corp.
  • Samsung Electronics Co. Ltd.
  • Toshiba Corp.
  • Whirlpool Corp.

 

This statistical study of the air conditioning market encompasses successful business strategies deployed by the key vendors. The air conditioning market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The air conditioning market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Air Conditioning Market?

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72% of the market’s growth will originate from APAC during the forecast period. China, Japan, South Korea (Republic of Korea), and India are the key markets for air conditioning in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing residential construction activity will facilitate the air conditioning market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Air Conditioning Market?

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The air conditioning market share growth by the spilts segment will be significant during the forecast period. The growth in the market comes from the replacement of window units with energy-efficient and sleek split air conditioners. There is also an increasing trend toward inverter-based splits, owing to their efficiency. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the air conditioning market size and actionable market insights on post COVID-19 impact on each segment.

 

Air Conditioning Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 19.60 billion

Market structure

Fragmented

YoY growth (%)

1.81

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 72%

Key consumer countries

China, US, Japan, Germany, South Korea (Republic of Korea), and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Electrolux, Daikin Industries Ltd., Haier Smart Home Co. Ltd., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Toshiba Corp., and Whirlpool Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Air Conditioning Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive air conditioning market growth during the next five years
  • Precise estimation of the air conditioning market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the air conditioning industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of air conditioning market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Splits - Market size and forecast 2020-2025
    • Chillers - Market size and forecast 2020-2025
    • Airside - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • AB Electrolux
      • Daikin Industries Ltd.
      • Haier Smart Home Co. Ltd.
      • Johnson Controls International Plc
      • LG Electronics Inc.
      • Mitsubishi Electric Corp.
      • Panasonic Corp.
      • Samsung Electronics Co. Ltd.
      • Toshiba Corp.
      • Whirlpool Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Get your FREE sample now!
      The air conditioning market growth will increase by $23.93 billion during 2019-2024.
      The air conditioning market is expected to grow at a CAGR of 3.28% during 2019-2024.
      Technavio has segmented the air conditioning market by product (Splits, Chillers, Airside, and Others) and geographic (APAC, Europe, North America, MEA, and South America).
      AB Electrolux, Daikin Industries Ltd., Johnson Controls International Plc, LG Electronics Inc., Panasonic Corp., Qingdao Haier Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba International Corp., Whirlpool Corp. are a few of the key vendors in the air conditioning market.
      APAC will register the highest growth rate of 70.16% among the other regions. Therefore, the air conditioning market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Japan
      • Germany
      • South Korea (Republic of Korea)
      The key factors driving the air conditioning market growth are:
      • Rise in residential construction activity
      The air conditioning market vendors should focus on grabbing business opportunities from the splits segment as it accounted for the largest market share in the base year.
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