Air Conditioner & Coolers Market is Rapidly Growing with Huge Application Scope & Opportunities by 2020-2027

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Air Conditioner & Coolers Market
Air Conditioner & Coolers Market

The air conditioner & coolers market is experiencing significant growth on the global scale, and is expected to grow consistently in years to come due to increase in the temperature and humidity level across the world. Thus, air conditioners and coolers are now considered to be as utility products and not just the luxury goods. Improvement in the living standards of the people across the various nations fuels the demand for air conditioners & coolers. There is an increase in the demand for such goods owing to the increase in the permit for setting up of industries, construction of malls, and opening up of offices.

Market scope and structure analysis

                  Report Metric                                                 Details
  Market Size Available for Years   2020–2027
  Base Year Considered   2019
  Forecast Period   2021–2027
  Forecast Units   Value ($US)
  Segments Covered   Type, End User, and Technology
  Regions Covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and Rest of LAMEA)
  Companies Covered Daikin Industries Ltd., Samsung Electronics Ltd., LG Electronics Inc., Midea Group, Hisense Electric Co., Mitsubishi Electric Corporation, Panasonic Corporation, Hitachi Ltd., Sharp Corporation, Symphony Ltd., Electrolux AB, Havells India Ltd. .

COVID-19 Scenario Analysis: 

  • COVID-19 hit the manufacturing stage of the air conditioner & coolers industry as the factories were closed worldwide and the scale of production got affected.
  • The shops and retail stores were also ordered to be closed and people were quarantined in their homes. This hampered the sales of the air conditioner & coolers in various countries.
  •  Air conditioner & coolers have become necessity in households, offices, and other such places. This is expected to increase the sales of this sector after COVID-19.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Increase in temperature and humidity globally as well as the acceptance of air conditioner & coolers as necessity are major factors that drive the growth of the air conditioner & coolers market. The emergence of technologically improved air conditioner & coolers, such as invertor based or ones with air purification technology, also influences the market positively.

However, stringent government regulations on the use of certain refrigerants in the manufacturing of ACs hinder the market growth. Contrarily, major players of the market are working in the direction of replacing the key harmful refrigerants, such as CFCs and developing eco-friendly products.

The global air conditioner & coolers market trends are as follows:

Asia-Pacific market is expected to grow at highest rate

Major demand for air conditioners and coolers comes from Asia-Pacific. This is due to rapid infrastructure development and inclination of people toward lifestyle products.

China is considered to be the largest market when it comes to the air conditioner systems in the world. In the region of China, room based air conditioners actually dominate the market. Japan and India are two of the other important names in the air conditioning and cooler markets and thus center of attraction for the global air conditioning manufacturers.

Development of Multi-functional Air Conditioners and Coolers

The top players of the air conditioners and coolers market focus on the developments of technologically advanced products to attract the buyers.

For example, Symphony Ltd., the leading cooler manufacturer, launched touch based range of air coolers for the household segment. It is different as it comes equipped with an air purifier as well as a mosquito repellent. Symphony touch based range of coolers includes voice assistance, touch screen, and a feature called as i-PURE technology. The i-PURE technology possesses too many advantages such as bacteria filter, allergy filter as well as smell and dust filter.

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Development of multi-functional air conditioners and coolers are in trend within this market.

Key Segments Covered:

               Segments                                Sub-segments
  Type
  • Room/Unitary Air Conditioners
  • VRF Systems
  • Coolers
  • Chillers
  • Others
  End User
  • Households
  • Industrials
  • Commercials
  • Others
  Technology
  • Automatic
  • Manual
  • Semi-automatic 
  • Invertor
  • Split A/C
  • Others

Key Benefits of the Report:

  • This study presents the analytical depiction of the global air conditioner & coolers industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global air conditioner & coolers market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global air conditioner & coolers market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global air conditioner & coolers market analysis based on competitive intensity and how the competition will take shape in the coming years.

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