Global Air Conditioning System Market to Reach US$ 193.0 Billion by 2032, Catalyzed by Rapid Infrastructure Development

March 16, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “Air Conditioning System Market Report by Product Type (Unitary, Rooftop, PTAC, and Others), Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Online, and Others), Technology (Inverter, Non-Inverter), End Use (Residential, Commercial, Industrial), and Region 2024-2032,” the global air conditioning system market size reached US$ 118.0 Billion in 2023. Air conditioning (AC) systems refer to equipment that maintains the temperature, relative humidity, and air quality in indoor spaces. It includes the window, split, portable, packaged, chillers, variable refrigerant flow (VRF), and ducted air conditioning systems. These systems generally consist of a compressor, condenser coil, thermostat, evaporator, air handler, and blowing unit. AC system creates a comfortable environment, reduces high humidity, prevents the risk of dehydration and heat stroke, and enhances air quality by eliminating odor, fumes, and dust mites. They also help to uplift mood, lower stress, reduce asthma attacks, and prevent insect infestations and mold growth. As a result, AC systems are widely installed in homes, hotels, restaurants, processing facilities, laboratories, malls, and supermarkets.

Global Air Conditioning System Market Trends:

The rapid infrastructural development activity is one of the primary factors driving the market growth. Air conditioning system is widely used in homes, offices, shopping centers, educational facilities, stadiums, hospitals, multiplexes, hotels, and auditoriums to create a comfortable indoor climate for humans, purify the air, control humidity, enhance productivity, improve health, and prevent allergies. In addition to this, rising investment in the construction of new residential and commercial buildings is acting as another growth-inducing factor. Furthermore, the widespread product utilization in various industries, such as manufacturing, pharmaceutical, and food processing, to enhance the comfort of workers, improve the efficiency of processes, ensure the optimum working of machinery, maintain the freshness of food products, reduce damage to materials, and prevent spoilage and bacterial growth is providing an impetus to the market growth. Additionally, the recent development of solar-powered air conditioning system that offer eco-friendly cooling, reduces energy costs, eliminates noise pollution, and minimizes the buildings' carbon footprint, is positively influencing the market growth. Apart from this, the introduction of smart air conditioning systems that are highly efficient, save electricity, enhance convenience, reduce maintenance, and provide usage details is propelling the market growth. Moreover, increasing product utilization in automobiles to control the humidity and temperature inside vehicles and enhance passenger comfort during long journeys is favoring the market. Other factors, including rapid industrialization, rising expenditure capacities of consumers, easy product availability across e-commerce platforms, integration of artificial intelligence (AI), and increasing product utilization in data centers to prevent overheating of computer equipment, are anticipated to drive the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 193.0 Billion by 2032, exhibiting a CAGR of 5.4% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been divided into unitary, rooftop, PTAC, and others. Among these, unitary air conditioning (UAC) systems are most popular.
  • Based on the distribution channel, the market has been classified into specialty stores, supermarkets and hypermarkets, online, and others. At present, specialty stores hold the majority market share.
  • On the basis of the technology, the market has been bifurcated into inverter and non-inverter. Among these, inverter technology is the most preferred by consumers.
  • Based of the end use, the market has been divided into residential, commercial, and industrial. At present, the commercial sector holds the largest market share.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa. Among these, Asia Pacific dominates the market.
  • The competitive landscape of the industry has also been examined, with some of the key players being Carrier Global 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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 Global 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
Five User License: US$ 3499
Corporate License: US$ 4499
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)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N A
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Air Conditioning System Market to Reach US$ 193.0 Billion by 2032, Catalyzed by Rapid Infrastructure Development
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More