At what pace is the air-conditioning equipment market growing, and what is its estimated value?
The air-conditioning equipment market size has grown strongly in recent years. It will grow from $213.02 billion in 2024 to $227.6 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to the expanding construction industry, the rising urbanization, the rise in demand for air conditioners, and the rising disposable income.
The air-conditioning equipment market size is expected to see strong growth in the next few years. It will grow to $281.98 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to the rising global temperatures, the increasing demand for energy-efficient solutions, and government regulations and initiatives. Major trends in the forecast period include a focus on wind-free technology, smart and connected technologies, sustainable refrigerants, and mergers and acquisitions.
Get Your Free Sample of The Global Air-Conditioning Equipment Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3656&type=smp
What are the top drivers to the rising demand in the air-conditioning equipment market?
Increasing urbanization and industrialization are projected to boost the demand for air-conditioning equipment during the forecast period. The surge in urban population and the growing number of industrial activities are expected to generate a high requirement for HVAC equipment including air-conditioning equipment. According to the publication by Our World In Data, people living in urban areas worldwide are projected to reach about 7 billion people by the end of 2050. Moreover, according to United Nations-Habitat’s World Cities Report 2022, urbanization is predicted to grow to 675 million in 2035, which is the 2nd highest behind China’s 1 billion urban population. Therefore, rapid urbanization is driving the growth of the air-conditioning equipment market.
How is the air-conditioning equipment market segmented?
The air-conditioning equipment market covered in this report is segmented –
1) By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Other Product Types
2) By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Unitary Air Conditioners: Central Air Conditioning Systems, Ductless Mini-Split Systems, Rooftop Units
2) By Room Air Conditioners: Window Air Conditioners, Portable Air Conditioners, Through-The-Wall Air Conditioners
3) By Packaged Terminal Air Conditioners (PTAC): Self-Contained PTAC Units, Hotel Room Air Conditioners
4) By Other Product Types: Chillers, Variable Refrigerant Flow (VRF) Systems, Evaporative Coolers, Heat Pumps
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/airconditioning-equipment-global-market-report
Who are the top competitors in the air-conditioning equipment market?
Major companies operating in the air-conditioning equipment market include Daikin Industries Ltd, Midea Group Co. Ltd, Haier Group, Carrier Global Corporation, Hitachi Ltd, Samsung Electronics, Mitsubishi Electric Corporation, LG Electronics, Fujitsu General Ltd., Electrolux AB, LEEL Electricals Ltd (Lloyd), Johnson Controls-Hitachi Air Condition India Ltd, Amber Enterprises India Ltd, Blue Star Ltd, Voltas Ltd, AUX Group, Gree Electric Appliances, Inc, Abionik Group, Accruent, Actron Engineering Pty Ltd, WAECO, Stefani Spa, OAG Industries, ERRECINQUE S.R.L, VULKAN Group, KLIMA-THERM Group, Frapol, Autoclima, CPS, Aquatherm, MDV, KOMFOVENT, CaptiveAire Systems, Greenheck Fan Corporation, Twin City Fan Companies Ltd, Honeywell International Inc, Nortek Air Solutions, Carrier Airconditioning & Refrigeration Limited, MW Solutions, Nomad Go, Maxell Trading LLC, Daikool Industries Limited, Geo Electrical Contracting Trading Company LLC, SilkAir International LLC, Temperature Control Company LLC, Tecnalco Aluminum Technical Engineering Company, Aaf-Mcquay (L.L.C), Arshi Air Conditioning & Refrigeration Co, Air Group, Ebair Condition, Miraco, Airmaster Emirates, Van Tech, Airco, HVAC Distributors, ITD Group
What significant trends should we anticipate in the air-conditioning equipment market over the forecast period?
The development of sustainable systems is a key trend in the air-conditioning equipment market. Sustainable systems such as solar-powered air-conditioning equipment are becoming more popular as people look for ways to reduce their carbon footprint. Major companies in the market are focusing on developing such systems. For instance, in October 2022, iAIRE, LLC, a US-based HVAC equipment manufacturer, launched its patented solar HVAC for homes and businesses across all industries in the USA to provide Americans access to high-quality and energy-saving resources. The system has cost savings on equipment, installation, and operations and also works up to 50% more effectively than other systems.
Which regional trends are influencing the air-conditioning equipment market, and which area dominates the industry?
The countries covered in the air-conditioning equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Air-Conditioning Equipment Market Report 2025 Offer?
The air-conditioning equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Air-conditioning equipment refers to a device used to create and maintain fixed temperature, relative humidity, and air purity conditions in indoor spaces.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3656
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
