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Global Air Conditioning System Market to Grow at 6.3% During 2022-2027, Propelled by Increasing Demand from Commercial Sector

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Air Conditioning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global air conditioning system market is expected to exhibit a CAGR of 6.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

An air conditioning (AC) system is a type of compressor-based refrigerant machine that functions by removing heat and moisture from the air and replacing it with cooler air in an enclosed space. Generally, the system comprises a compressor, evaporator and condenser coils, fan, and chemical refrigerant. The AC system creates a comfortable environment that helps in increasing human efficiency, along with circulating filtered air inside a confined space by restraining the entry of dust particles or smoke. Due to this, these systems are widely installed across the residential, commercial, and industrial spaces.

 

 
 

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Over the years, there has been an increase in the construction of residential complexes, shopping malls, hospitals, hotels, multiplexes, and auditoriums, particularly in emerging regions like the Asia Pacific, the Middle East, North Africa, and Latin America. This has further increased the demand for AC systems for cooling and maintaining indoor air quality. Additionally, rising environmental concerns and various governmental regulations for reducing carbon emissions have led to increased consumer inclination toward energy-efficient and green AC systems globally. In addition to this, the launch of various government initiatives for promoting the need for eco-friendly product variants has also augmented the market growth. For instance, the ‘Super-Efficient Air Conditioning Program’ was launched by the Energy Efficiency Services Limited, Government of India, for replacing conventional AC systems with their new and eco-friendly counterparts. Moreover, with the advent of the latest technologies, several manufacturers are introducing R-22 free systems to minimize heat emissions, thereby providing a positive thrust to the market. However, there has been a decline in the sales of AC systems due to the spread of the coronavirus disease (COVID-19) as the exports of AC components from China remain suspended. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global air conditioning system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, distribution channel, technology and end-use.

Breakup by Product Type:

 

 
 

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  • Unitary
  • Rooftop
  • PTAC
  • Others
     

Unitary air conditioning (UAC) systems are currently the most popular product type.

Breakup by Distribution Channel:

  • Specialty Stores
  • Supermarkets and Hypermarkets
  • Online
  • Others
     

On the basis of the distribution channel, the majority of AC systems are distributed through specialty stores.

Breakup by Technology: 

  • Inverter
  • Non-Inverter
     

Nowadays, consumers prefer AC systems with inverter technology over conventional or non-inverter AC systems.

Breakup by End Use:

  • Residential
  • Commercial
  • Industrial
     

At present, there has been increasing use of AC systems in the commercial sector.

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

The Asia Pacific currently exhibits a clear dominance in the market.

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the air conditioning system companies are being Carrier Corporation, DAIKIN INDUSTRIES, Ltd., Electrolux North America, Inc., Haier Group Corporation, Hitachi-Johnson Controls Air Conditioning Inc., Lennox International Inc., LG Electronics Inc., Midea Group Co., Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Product Type, Distribution Channel, Technology, End Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Carrier Corporation, DAIKIN INDUSTRIES, Ltd., Electrolux North America, Inc., Haier Group Corporation, Hitachi-Johnson Controls Air Conditioning Inc., Lennox International Inc., LG Electronics Inc., Midea Group Co., Ltd., Mitsubishi Electric Corporation, Panasonic Corporation and Samsung Electronics Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Air Conditioning System Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Product Type
    6.1    Unitary 
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Rooftop 
        6.2.1 Market Trends
        6.2.2 Market Forecast    
    6.3    PTAC
        6.3.1 Market Trends
        6.3.2 Market Forecast    
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast    
7    Market Breakup by Distribution Channel
    7.1    Specialty Stores 
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Supermarkets and Hypermarkets 
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Online
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Technology
    8.1    Inverter 
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Non-Inverter 
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by End Use
    9.1    Residential
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Commercial
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Industrial
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
    12.1    Overview
    12.2    Inbound Logistics
    12.3    Operations
    12.4    Outbound Logistics
    12.5    Marketing and Sales
    12.6    Service
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1   Carrier Corporation 
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
        15.3.2   DAIKIN INDUSTRIES, Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3   Electrolux North America, Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
        15.3.4   Haier Group Corporation
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5   Hitachi-Johnson Controls Air Conditioning Inc.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
        15.3.6   Lennox International Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7   LG Electronics Inc. 
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8   Midea Group Co., Ltd.
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio 
           15.3.8.3 Financials   
        15.3.9   Mitsubishi Electric Corporation
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio 
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10   Panasonic Corporation 
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11   Samsung Electronics Co. Ltd.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio 
           15.3.11.3 Financials
           15.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Air Conditioning System Market: Major Drivers and Challenges
Figure 2: Global: Air Conditioning System Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Air Conditioning System Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Air Conditioning System Market: Breakup by Distribution Channel (in %), 2021
Figure 5: Global: Air Conditioning System Market: Breakup by Technology (in %), 2021
Figure 6: Global: Air Conditioning System Market: Breakup by End Use (in %), 2021
Figure 7: Global: Air Conditioning System Market: Breakup by Region (in %), 2021
Figure 8: Global: Air Conditioning System Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Air Conditioning System (Unitary) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Air Conditioning System (Unitary) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Air Conditioning System (Rooftop) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Air Conditioning System (Rooftop) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Air Conditioning System (PTAC) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Air Conditioning System (PTAC) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Air Conditioning System (Other Product Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Air Conditioning System (Other Product Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Air Conditioning System (Specialty Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Air Conditioning System (Specialty Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Air Conditioning System (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Air Conditioning System (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Air Conditioning System (Online) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Air Conditioning System (Online) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Air Conditioning System (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Air Conditioning System (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Air Conditioning System (Inverter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Air Conditioning System (Inverter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Air Conditioning System (Non-Inverter) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Air Conditioning System (Non-Inverter) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Air Conditioning System (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Air Conditioning System (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Air Conditioning System (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Air Conditioning System (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Air Conditioning System (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Air Conditioning System (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: North America: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: North America: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: United States: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: United States: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Canada: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Canada: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Asia Pacific: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Asia Pacific: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: China: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: China: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Japan: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Japan: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: India: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: India: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: South Korea: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: South Korea: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Australia: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Australia: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Indonesia: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Indonesia: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Europe: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Europe: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Germany: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Germany: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: France: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: France: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: United Kingdom: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: United Kingdom: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Italy: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Italy: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Spain: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Spain: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Russia: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Russia: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Latin America: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Latin America: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Brazil: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Brazil: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Mexico: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Mexico: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Others: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Others: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Middle East and Africa: Air Conditioning System Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Middle East and Africa: Air Conditioning System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Global: Air Conditioning System Industry: SWOT Analysis
Figure 84: Global: Air Conditioning System Industry: Value Chain Analysis
Figure 85: Global: Air Conditioning System Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Air Conditioning System Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Air Conditioning System Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
Table 3: Global: Air Conditioning System Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 4: Global: Air Conditioning System Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 5: Global: Air Conditioning System Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 6: Global: Air Conditioning System Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Air Conditioning System Market: Competitive Structure
Table 8: Global: Air Conditioning System Market: Key Players        


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Key Questions Answered in This Report

According to the estimates by IMARC Group, the global air conditioning system market is expected to grow at a CAGR of 6.3% during 2022-2027.

Growing number of construction activities pertaining to residential complexes, shopping malls, hospitals, hotels, multiplexes, and auditoriums, is propelling the demand for air conditioning systems across the globe.

Increasing consumer inclination towards energy-efficient and smart air conditioning systems based on the rising environmental concerns and implementation of various governmental regulations for reducing carbon emissions, is one of the major key trends in the global air conditioning system market.

The market experienced a negative growth on account of the sudden outbreak of the COVID-19 pandemic as strict lockdowns across several nations had led to disrupted supply chains and temporary shutdown of various manufacturing units for air conditioning system.

On the basis of the product type, the market has been bifurcated into unitary, rooftop, PTAC and others. Currently, unitary air conditioning (UAC) system holds the majority of the total market share.

On the basis of the distribution channel, the market has been bifurcated into specialty stores, supermarkets and hypermarkets, online and others. Among these, specialty stores represent the largest segment.

Based on the technology, the market has been segmented into inverter and non-inverter. At present, inverter technology exhibits a clear dominance in the market.

Based on the end use, the market has been segmented into residential, commercial, and industrial. Currently, commercial holds the majority of the total market share.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.

The key companies in the global air conditioning system market are Carrier Corporation, DAIKIN INDUSTRIES, Ltd., Electrolux North America, Inc., Haier Group Corporation, Hitachi-Johnson Controls Air Conditioning Inc., Lennox International Inc., LG Electronics Inc., Midea Group Co., Ltd., Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., etc.

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