Description
A recent market intelligence report that is published by Data Insights Partner on Air-Conditioning Equipment Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international. The research study also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Air-Conditioning Equipment Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Air-Conditioning Equipment Market is offered.
Market Insights:
In accordance with the report, the Air-Conditioning Equipment Market is projected to expand at a CAGR of X.X% over the period of forecast. The global Air-Conditioning Equipment Market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn in 2031, growing with a significant CAGR rate during the forecast period. Air conditioning systems are used in a variety of places, including houses, shopping malls, business areas, and entertainment facilities. In developing countries, air conditioning is a popular product; nevertheless, the cost of ecologically friendly products remains prohibitive. Air conditioning systems have played a critical role in modifying the indoor environment, particularly in hot and arid climates, and have become an essential component of the infrastructure that supports modern environments. Furthermore, as economic growth in emerging nations continues to accelerate, demand for air conditioning is expected to rise in the coming years. This factor is expected to boost the market demand for Air condition equipment market during the forecast period. Individuals’ increased discretionary incomes are predicted to boost the use of a variety of air conditioning technologies over the forecast period. Furthermore, factors such as customers’ increasing preference for energy-efficient systems and the growing popularity of portable systems are likely to boost the air conditioning systems market’s growth. This in turn is expected to pull the market demand for Air condition equipment market during the forecast period. The growing population is predicted to have a positive impact on residential and commercial building, as well as an increase in demand for air conditioning equipment. The expanding population in Gulf countries, for example, is expected to have a considerable impact on building investment in GCC countries. Growing adoption of Air condition systems across different end use application is expected to generate the market demand for Air condition equipment in coming years. Replacement sales are likely to drive growth in the North American market, as well as other developed economies throughout the world. Furthermore, increased government promotional measures to boost the adoption of energy-efficient air conditioning systems to minimise energy consumption are likely to fuel the regional market’s expansion. Despite the fact that the global market was hit hard by the COVID-19 pandemic, North America and Europe grew at a steady pace in 2021 and were not as badly affected as the rest of the globe. This is due to strong demand in both regions in the fourth quarter of 2021. The vehicle air conditioning industry will be driven by increased automobile production and rising consumer demands for comfort. Increasing car demand, combined with increased per capita income and technological advancements, are key drivers for automobile air conditioning systems. This factor is expected to pull the market demand during the forecast period.
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Research Methodology:
To compile the detailed study of the global Air-Conditioning Equipment Market, a robust research methodology has been adopted that aids in determining the key insights and also evaluates the growth prospects of the Air-Conditioning Equipment Market. Comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our research methodology implements a mix of primary as well as secondary research. Our projects are initiated with secondary research, where we refer to a variety of sources including trade databases; government published documents, investor presentations, company annual reports, Industrial papers, and paid databases. To carry out secondary research, the analysts have collected the information through company annual reports, journals, company press releases, and paid databases that were referred to gain and identify better opportunities in the Air-Conditioning Equipment Market.
COVID-19 Scenario Analysis:
The COVID-19 outbreak has shaken the whole economy in the world. In this scenario some industries are doing quite well while others have been crushed. This section of the report has explored the overall status of the COVID-19 scenario. The industry witnessed a huge decline in terms of sales. Likewise, the Air-Conditioning Equipment Market was affected negatively due to the shutdown of manufacturing/processing facilities for some time. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Segment Covered:
Air-Conditioning Equipment Market report has been segmented By Type, By Components, By Application also includes the market size and forecast for all these segments. Compounded annual growth rates for all segments have also been provided for 2019 to 2031. This report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
Key Segments:
Air-Conditioning Equipment Market research report includes an in-depth coverage of the industry with estimates & forecast from 2022 to 2031, for the following segments:
Air-Conditioning Equipment Market, By Type, 2022-2031 (USD Million)
Unitary Air Conditioners
Room Air Conditioners
Packaged Terminal Air Conditioners
Chillers
Absorption Liquid Chillers
Air-Conditioning Equipment Market, By Components, 2022-2031 (USD Million)
Refrigerant
Compressor
Condenser Coil
Expansion Valve
Evaporator Coil
Air-Conditioning Equipment Market, By Application, 2022-2031 (USD Million)
Residential
Commercial
Report Highlights:
The prime objective of the Air-Conditioning Equipment Market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing with different major regions and more than 30 major countries across the globe. During the report’s production, extensive research and analysis were conducted. This research will assist readers in gaining a thorough understanding of the market.
Air-Conditioning Equipment Market, By Region, 2022-2031 (USD Million)
North America ( United States, Canada, Mexico)
Europe (Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
South Asia ( India, Pakistan and Bangladesh)
East Asia (China, Japan and South Korea)
South East Asia (Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
Middle East (Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
Africa (Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
South America (Brazil, Argentina, Colombia, Chile, and Rest of SA)
Oceania (Australia and New Zealand)
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Companies Profiled:
To enhance their position in the global market, key suppliers/manufacturers are concentrating on business expansion and product innovation. Manufacturers/producers are also working on boosting their manufacturing capacity and product quality to gain a competitive advantage. The following are some of the prominent manufacturers in the worldwide Air-Conditioning Equipment Market:
Daikin Industries Ltd.
Electrolux AB
Hitachi Ltd.
Ingersoll-Rand
Johnson Controls
Lennox International Inc.
LG Electronics
MIDEA Group Co. Ltd.
Mitsubishi Electric Corporation
Nortek
Panasonic Corporation
Rheem
Samsung Electronics Co. Ltd.
Sharp Corporation
United Technologies Corp
Others
Air-Conditioning Equipment Market Report Highlights:
Detailed analysis of the parent market
Key players’ strategies and products supplied in the competitive landscape
Market segmentation in depth analysis
Market size in terms of volume and value, past, present, and future scenario
Potential and specialty areas, as well as geographical regions with promising growth prospects
Market players use this information to maintain and expand their market presence, thus it’s important to have an unbiased perspective on market performance.
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