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Air Conditioning System Market Analysis

  • Report ID: GMI7350
  • Published Date: Nov 2023
  • Report Format: PDF

Air Conditioning System Market Analysis

Air Conditioning System Market, By Type, 2021 - 2032 (USD Billion)

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Based on type of air conditioning systems, the market is divided into central air conditioning systems, split air conditioning systems, window unit air conditioning system, and ductless mini-split systems. The central air conditioning systems segment held around 56% market share in 2022. Consumers are increasingly concerned about indoor air quality (IAQ). Central air conditioning systems are incorporating advanced air filtration and purification technologies, such as HEPA filters and UV-C germicidal lamps, to improve IAQ.
 

 Air Conditioning System Market Revenue Share (%), By End-Use, (2022)

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Based on end-use, the air conditioning system market is categorized into residential air conditioning, commercial air conditioning, and industrial air conditioning. The commercial air conditioning segment held around 56% market share in 2022. Commercial air conditioning systems are increasingly integrated into building automation and management systems. This allows for centralized control, monitoring, and optimization of HVAC systems for improved energy efficiency. The adoption of smart HVAC controls is growing in the commercial sector. These controls allow for remote monitoring and control of HVAC systems, enabling energy savings and predictive maintenance.
 

Based on cooling capacity, the air conditioning system market is categorized into Low Capacity (Less than 12,000 BTU), Medium Capacity (12,000 - 24,000 BTU), High Capacity (24,000 - 60,000 BTU), and Ultra-High Capacity (Over 60,000 BTU). Inverter-driven medium-capacity systems have gained popularity due to their energy-efficient operation. These systems can adjust the compressor speed based on cooling demands, providing precise temperature control and reducing energy consumption. The construction and expansion of residential complexes in urban and suburban areas have driven the demand for medium-capacity air conditioning systems in homes and small commercial spaces.
 

Based on distribution channel, the air conditioning system market is categorized into direct sales and indirect sales. The rise of e-commerce and online marketplaces has transformed indirect sales in the industry. Many customers now research, compare, and purchase air conditioning systems online through third-party vendors. This trend has been accelerated by the COVID-19 pandemic and the preference for online shopping. Indirect sales channels are adopting an omnichannel approach, which integrates both online and offline sales channels. This allows customers to seamlessly transition between various touchpoints, such as online research and in-store purchasing.

 

 U.S. Air Conditioning System Market Size, 2021- 2032 (USD Billion)

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North America dominated the Air Conditioning System market in 2022, accounting for a major share of around 26%. North America, especially the United States, has stringent energy efficiency regulations, which are driving the adoption of energy-efficient air conditioning systems. These regulations often include minimum Seasonal Energy Efficiency Ratio (SEER) requirements. The integration of smart home and building automation systems is increasing. Consumers appreciate the ability to control their air conditioning systems remotely through smartphones and other devices, improving energy efficiency and convenience.

Authors: Avinash Singh

Frequently Asked Questions (FAQ) :

Air conditioning system industry size reached USD 123 billion in 2022 and is projected to expand at over 6% CAGR from 2023-2032 driven by the rising temperatures and climate changes along with greater demand for cooling solutions

Central air conditioning systems market accounted for around 56% of revenue share in 2022 and is estimated to witness high demand through 2032 owing to the increasing consumer concerns about indoor air quality

North America accounted for around 26% revenue share of the market in 2022 and is likely to witness robust growth through 2032 attributed to the increasing implementation of stringent energy efficiency regulations.

Some of the top air conditioning system providers are Carrier Corporation, Daikin Industries, Ltd., LG Electronics, Mitsubishi Electric Corporation, and Johnson Controls.

Air Conditioning System Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 299
  • Countries covered: 21
  • Pages: 250
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