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Air Conditioning System Market Trends

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

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Air Conditioning System Market Trends

Energy efficiency remains a central trend in the industry. Consumers and businesses are increasingly demanding systems that reduce energy consumption and operational costs. Inverter technology, variable refrigerant flow (VRF) systems, and the use of low-global warming potential (GWP) refrigerants contribute to improved efficiency. Multi-zone air conditioning systems, including ductless mini-splits and VRF technology, are gaining popularity. They allow for more precise zoning, reducing energy waste and improving comfort in various areas of a building.

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.