Air Conditioners (AC) Market Report and Forecast 2023-2028

According to the report, the global air conditioners market attained a value of USD 139.73 billion in 2022. Aided by the rising global temperatures, urbanisation, and increasing disposable income, the market is projected to grow at a CAGR of 6.8% between 2023 and 2028 to reach a value of USD 207.21 billion by 2028.

Air conditioners are devices that regulate temperature, humidity, and air quality within a designated space. They work by removing heat and moisture from the interior of an occupied space to improve the comfort of occupants. Air conditioners are available in various types, such as split systems, central systems, window units, and portable units. They are widely used in residential, commercial, and industrial applications to provide a comfortable indoor environment. The growth of the air conditioners market is primarily driven by the increasing global temperatures due to climate change. As the average temperatures rise, the demand for air conditioning systems to maintain a comfortable indoor environment is expected to grow. This, in turn, is expected to drive the sales of air conditioners worldwide.

Another key factor propelling the growth of the air conditioners market is the rapid urbanisation taking place across the globe. Moreover, the rising disposable income among consumers is another significant factor contributing to the growth of the air conditioners market for air conditioners. As the purchasing power of consumers increases, the demand for air conditioning systems is expected to rise, as they are considered essential for maintaining a comfortable living environment.

Furthermore, technological advancements and innovations in the air conditioning industry are expected to support the growth of the air conditioners market. Manufacturers are focusing on developing energy-efficient and environmentally friendly air conditioning systems to cater to the increasing consumer demand for sustainable products. The introduction of air conditioners with inverter technology, smart controls, and energy-saving features is expected to create new growth opportunities for the market.

In addition, the increasing focus on improving indoor air quality is anticipated to fuel the demand for air conditioners with air purification capabilities. Air pollution is a major concern in urban areas, and air conditioners with built-in air purifiers can help in maintaining a healthy indoor environment by filtering out harmful particles and pollutants. The growing awareness about the importance of indoor air quality is expected to drive the demand for air conditioners with integrated air purification systems and boost the growth of the air conditioners market.

Market Segmentation

The market can be divided on the basis of type, size, end use, distribution channel, and region.

Market Breakup by Type:

• Window AC
• Central AC
• Mini Split AC
• Others

Market Segmentation by Size:

• < 12K BTU
• 12K-36K BTU
• 36K-60K BTU
• 60K+ BTU

Market Segregation by End Use:

• Commercial
• Residential

Market Classification by Distribution Channel:

• Hypermarket
• Electronic Stores
• Online
• Others

Market Division by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global air conditioner companies. Some of the major key players explored in the report are as follows:

• Nortek
• AB Electrolux
• LG Electronics
• DAIKIN INDUSTRIES, Ltd,
• Fujitsu General Limited
• Johnson Controls
• Others

*The publisher always strives to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.