The global air conditioning market is growing at a CAGR of 5.8% during the forecast period. One of the major factors driving the growth of the market include rapid rise in the global urban population. Ongoing technological advancements to reduce components size and price to increase affordability of ACs by middle income individuals is another factor to promote the growth of air conditioning market especially in emerging economies across the globe.

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For instance, In June 2020, Voltas Ltd. one of the AC brands from the house of the Tata’s had launched latest line of ultraviolet light (UVC) that is based on surface disinfectant solutions along with its line of engineered UVC-based air and duct disinfectant solutions that the company is providing its consumer since past years. The launch is considered as a return and response to the ongoing crisis of COVID-19 by the company through continuing its services for the community and spreading a positive impact on society as UVC- based air disinfectant solution is considered to be safe with regards to increasing concerns in customer about the spread of virus due to central Air-Conditioning systems in commercial spaces.

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However, there are certain factors that are affecting the growth of the market. The increasing electricity cost, differing prices of raw materials, incompatible in environmental protection, and high cost of maintenance are some of the major factors that are hindering the growth of the global air conditioning market.

Global Air Conditioning Market Segmentation
Global Air Conditioning Market By Application
• Residential
• Commercial
• Industrial
• Others

Global Air Conditioning Market By Type
• Split Type & Window AC
• Rooftop
• Indoor Packaged Air Conditioners
• VRF
• Chillers
• Others (AHU/FCU)

Global Air Conditioning Market By Refrigerant Type
• HCFC (Hydrochlorofluorocarbons)
• HFC (Hydrofluorocarbons)
• HFO ((Hydrofluoric-Olefin))
• Natural Refrigerant

Global Air Conditioning Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• Blue Star Ltd.
• Carrier Global Corp.
• Daikin Industries, Ltd.,
• Danfoss Global
• Electrolux AB
• Fujitsu General Ltd.
• Godrej & Boyce Manufacturing Co. Ltd.
• Gree Electric Appliances, Inc.
• Guangdong Chigo Air Conditioning Co., Ltd.
• Haier Electronics Group Co., Ltd.
• Hitachi, Ltd.
• LG Electronics Corp.
• Midea Group.
• Mitsubishi Electric Corp.
• Panasonic Corp.
• Samsung Group.
• Toshiba Corp.
• Trane Technologies Inc.
• United Technologies Corp.
• Voltas Ltd.
• York (Parent company Johnson Controls)


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