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Global Air Conditioning Market 2017-2021

Global Air Conditioning Market 2017-2021

About Air Conditioning

Air conditioning systems are deployed in buildings for the efficient management of humidity and temperature. The technology in these air conditioning systems has been transforming and witnessing innovations in fields like compressor technology, coolers, filters, and drying agents. These technological advancements are aimed at enhancing performance and reducing energy costs. Air conditioning systems are approaching the standard equipment status in developing economies.

Technavio’s analysts forecast the global air conditioning market to grow at a CAGR of 8.61% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global air conditioning market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of various types of air conditioning systems.The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • Europe
  • MEA
Technavio's report, Global Air Conditioning Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Daikin
  • GREE Electric Appliances
  • Midea
  • Mitsubishi Electric
  • Panasonic
  • Toshiba Carrier
Other prominent vendors
  • Blue Star
  • Electrolux
  • Haier
  • Hitachi
  • Ingersoll Rand
  • Johnson Controls
  • LG
  • Samsung
Market driver
  • Increasing demand for inverter air conditioners.
  • For a full, detailed list, view our report
Market challenge
  • Changes in regulatory actions.
  • For a full, detailed list, view our report
Market trend
  • Increasing adoption of central air conditioning systems.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Air Conditioning Market 2017-2021

Technavio recognizes the following companies as the key players in the global air conditioning market: Daikin, GREE Electric Appliances, Midea, Mitsubishi Electric, Panasonic, and Toshiba Carrier.

Other Prominent Vendors in the market are: Blue Star, Electrolux, Haier, Hitachi, Ingersoll Rand, Johnson Controls, LG, and Samsung.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for integrated systems. HVAC controls and building systems are witnessing more integration, driving demand among end-users who seek the benefits of streamlining systems, such as lighting and access controls. This allows higher energy efficiency in managing building systems as it allows control from one interface. This also facilitates the elimination of redundancy in systems and provides better occupant comfort, owing to better management. For instance, access controls integrated with HVAC controls allows building manages to use a single platform to monitor cooling and increase or decrease the cooling based on the number of people in the air conditioning environment. While these systems have already gained popularity in commercial office buildings, they are gaining popularity in hotels, healthcare facilities, schools, and retail outlets.”

According to the report, one driver in the market is affluent growth in developing countries. Developing countries are growing increasingly affluent. Most of these countries lie in the tropics and subtropics where the temperatures are high, due to which air conditioning is shifting from the high luxury segment to the mainstream category in residential and commercial settings. Earlier, air conditioners were treated as a status symbol in developing countries like India. However, the growth of the middle-class population in these regions because of the development of dual income households increases the disposable and per capita income of people. While the US has been the biggest user of air conditioning, developing countries such as India, China, Bangladesh, Pakistan, Indonesia, and the Philippines are set to surpass the US in the future. The growing middle-class population in these regions increases the demand for air conditioners. Following the living standard improvements and growing demand from consumers, the expansion of the air conditioning market is expected to further accelerate.

Further, the report states that one challenge in the market is volatility in oil prices. Oil prices are dependent on various factors beyond the company’s control, including the supply and demand of oil, weather conditions, and political influences among others. According to the US Energy Information Administration (EIA), North Sea Brent crude oil prices averaged $47/barrel in August 2015, a $10/b decrease over that in July 2015. This third consecutive monthly decrease in prices reflects the concerns about the lower economic growth in emerging markets, expectations of higher oil exports from Iran, and continuing growth in global inventories. EIA forecasts that Brent crude oil prices will average $54/b in 2015 and $59/b in 2016. West Texas Intermediate (WTI) crude oil prices in 2015 and 2016 are forecast to average $5/b lower than the Brent price. The price of WTI declined from $94.6/b in January 2014 to $47.2/b in January 2015 to $31.6/b in January 2016. With the decision of OPEC members to continue with the current production levels and Saudi Arabia’s decision to cut the selling price by $1.9/b for Asian importers, the price of crude oil is expected to remain volatile in the short term.

Companies Mentioned

Daikin, GREE Electric Appliances, Midea, Mitsubishi Electric, Panasonic, Toshiba Carrier, Blue Star, Electrolux, Haier, Hitachi, Ingersoll Rand, Johnson Controls, LG, and Samsung.

  • Executive summary
  • Scope of the report
    • Market overview
    • Vendor segmentation
    • Common currency conversion rates
      • Table Standard conversion rates
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Market landscape
    • Market overview
      • Table Global air conditioning market: Overview
    • Market size and forecast
      • Table Global air conditioning market 2016-2021 ($ billions)
      • Table Global air conditioning market 2016-2021 (millions of units)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by products
    • Global air conditioning market by product
      • Table Global air conditioning market: Overview by product
      • Table Global air conditioning market: Product segmentation 2016
      • Table Global air conditioning market: Product segmentation 2021
      • Table Global air conditioning market: Lucrativeness by products 2021
    • Global splits market
      • Table Split air conditioners: Product segmentation
      • Table Global splits market 2016-2021 ($ billions)
      • Table Global splits market: Sub-segment 2016 (by volume)
    • Global chillers market
      • Table Global chillers market 2016-2021 ($ billions)
      • Table Global chillers market: Product segmentation by volume 2016
    • Global airside market
      • Table Global airside market 2016-2021 ($ billions)
      • Table Global airside market: Product segmentation by volume 2016
    • Global single packaged market
      • Table Global single packaged market 2016-2021 ($ billions)
      • Table Global single packaged market: Product segmentation by volume 2016
    • Global window units market
      • Table Global window units market 2016-2021 ($ billions)
    • Global portables market
      • Table Global portables market 2015-2020 ($ billions)
  • Product life cycle analysis
    • Global air conditioning market product lifecycle analysis
      • Table Global air conditioning market: Product lifecycle analysis
  • Geographical segmentation
    • Global air conditioning market by geography
      • Table Global air conditioning market by geography 2016
    • Air conditioning market in APAC
      • Table Urbanization rates in APAC 2015-2020 (% of overall population)
      • Table Air conditioning market in APAC 2016-2021 ($ billions)
      • Table Air conditioning market in APAC by select countries 2016 (%)
      • Table CAGR of air conditioning market in APAC by select countries 2016-2021
    • Air conditioning market in Americas
      • Table Air conditioning market in Americas 2016-2021 ($ billions)
      • Table Air conditioning market in Americas by select countries 2016 (%)
    • Air conditioning market in Europe
      • Table Air conditioning market in Europe 2016-2021 ($ billions)
      • Table Air conditioning market in Europe by select countries 2016 (%)
    • Air conditioning market in MEA
      • Table Air conditioning market in MEA 2016-2021 ($ billions)
  • Market drivers
    • Rise in residential construction activity
      • Table Global residential construction spending (YoY change) 2012-2015
    • Affluent growth in developing countries
      • Table Share of middle-class population in APAC and MEA 2010-2030 (% of overall population)
    • Increasing demand for inverter air conditioners
    • Growing environmental consciousness
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Change in regulatory actions
      • Table Global warming potential of refrigerants
      • Table List of delisted refrigerants for commercial refrigeration
      • Table Phasedown of the fluorinated gases 2015-2020
    • Rising energy consumption
      • Table Energy consumption by household appliances
    • Uncertain weather conditions
    • Volatility in oil prices
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Rising investment in R&D
      • Table Rising investment in R&D for patents 2015-2016
    • Growing demand for integrated systems
    • Growing popularity of smart thermostats
    • Increasing adoption of central air conditioning systems
  • Vendor landscape
    • Competitive scenario
    • Daikin
      • Table Product offerings of Daikin
    • GREE Electric Appliances
      • Table Product offerings of GREE Electric Appliances
    • Midea
      • Table Product offerings of Midea
    • Mitsubishi Electric
      • Table Product offerings of Mitsubishi Electric
    • Panasonic
      • Table Product offerings of Panasonic
    • Toshiba Carrier
      • Table Product offerings of Toshiba Carrier
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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