Global Air Conditioning System Market to Grow at 6.24% During 2023-2028, Propelled by Increasing Demand from Commercial Sector

March 26, 2020 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled "Air Conditioning System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global air conditioning system market is expected to exhibit a CAGR of 6.24% during 2023-2028. An air conditioning system facilitates the removal of heat and moisture present in an enclosed space to alter the overall temperature. The heat is replaced from the given area with chilled dry air while the hot air and moisture are expelled in the atmosphere. The system restraints the entry of smoke or dust particles and aids in improving the comfort of the dwellers by creating a regulated interior environment. Consisting of fans, compressors, condenser coil, evaporator coil and chemical refrigerants, the suitable thermal condition and superior indoor air quality provided by these systems aid in improving human efficiency and maintaining proper health functions. Consequently, they have emerged as an indispensable component across domestic, commercial and industrial environments.

Global Air Conditioning System Market Trends:

The global market is primarily driven by the confluence of numerous factors, including rapid urbanization, rising disposable incomes, shifting lifestyle patterns and altering climatic conditions. This has resulted in a significant increase in the uptake of air conditioning systems, especially in the residential sector. In line with this, the growing global population has contributed to the growth in the construction of housing projects, which is expected to provide a thrust to the market growth. Moreover, considerable growth in the tourism sector is also catalyzing the market growth. The increasing influx of foreign tourists has led numerous countries to build hotels, auditoriums, multiplexes and shopping complexes to improve their existing infrastructure. Air conditioning systems are crucial for offering convenience to the tourists, which, in turn, influences their spending behavior. Apart from this, these systems are widely used across numerous organizations to improve working conditions and enhance the overall productivity of the employees. Furthermore, an enhanced focus toward sustainable development has resulted in an increased demand for energy-efficient air conditioners, which is further creating a positive outlook for the market. Numerous manufacturers have also developed smart and connected variants that are widely gaining prominence among users. These variants are being integrated with advanced technologies and can be operated using voice commands.

Market Summary:

  • On the basis of the product type, the market has been divided into unitary, rooftop, PTAC and others.
  • Based on the distribution channel, the market has been categorized into specialty stores, supermarkets and hypermarkets, online and others.
  • Based on the technology, the market has been bifurcated into inverter and non-inverter.
  • On the basis of the end use, the market has been classified into residential, commercial and industrial.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined with the detailed profiles of the key players operating in the market. Some of these key players include 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, Mitsubishi Electric Corporation, Panasonic Corporation, Samsung Electronics.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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 Gould St
Ste R
Sheridan, WY 82801
Tel No:(D) +91 120 433 0800 |
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Air Conditioning System Market to Grow at 6.24% During 2023-2028, Propelled by Increasing Demand from Commercial Sector
Select Licence Type

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: +44-753-713-2163


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
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

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