August 16, 2019 by Steve Blade
According to Fact.MR’s recently compiled report, the global air conditioning system market will record a CAGR of over 6% during the forecast period 2017 to 2026, in terms of value. Global sales of air conditioning systems are estimated to exceed 240,000 Mn units by 2026-end. The concept of connected home is witnessing a gradual rise over the past few years. Morphing of devices such as a basic thermostat into the breed of power smart thermostats has depicted the way residential appliances must adapt, re-invent and re-imagine their role in a connected home.
Currently, powerful smart thermostats are the control element for air conditioning systems in connected homes. Owing to their benefits of monitoring temperature through computers and mobile devices, these thermostats are gaining momentum in small- and medium-sized commercial buildings.
With the help of solar panels providing outdoor temperature information, smart thermostats are capable of altering a home’s cooling system depending up on the requirement. Smart thermostat for air conditioning systems range from basic and functional to sophisticated and feature-rich. In addition, the development of digitally programmable thermostats feature both efficiency- and comfort-enhancing functionality, with their remote access and smart technology.
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According to Fact.MR’s recently compiled report, the air conditioning system market will record a CAGR of over 6% during the forecast period 2017 to 2026, in terms of value. Global sales of air conditioning systems are estimated to exceed 240,000 Mn units by 2026-end.
Table of Content
1. Global Economic Outlook
2. Global Air Conditioning System Market - Executive Summary
3. Global Air Conditioning System Market Overview
To be Continue.............
North America to Record Highest Sales of Air Conditioning Systems in terms of Volume
Sales of air conditioning systems are slated to remain the largest in North America, in terms of volume, followed by Europe. Ongoing technological innovations, and changing standards of American Society of Heating, Refrigerating and Air Conditioning, along with the presence of many regulatory policies have accelerated demand for eco-friendly, technologically advanced, and energy-efficient air conditioning systems in these regions.
Considering the broad-scope of the global air conditioning system market, the report offers in-depth insights on the forecast and segment-wise analysis. The air conditioning system market has been segmented on the basis of application, sales channel, product type, and region. This sections offers segmentation analysis, along with a detailed country-wise forecast on all the parameters.
Evolving government mandates dictate equipment manufacturers to shift their focus toward adoption effective alternatives to chemicals, which prevent adverse impacts on the environment. In the cooling arena, manufacturers are now replacing chemical refrigerants emitting GHG such as HFCs, HCFCs and CFCs, with less hazardous green agents that prevent depletion of ozone layer and impact on global warming. The non-synthetic & naturally occurring substances capable of being utilized as cooling agents in air conditioning systems include water, air, ammonia, CO2 and hydrocarbons such as cyclopentane, butane and propane. For OEMs manufacturing air conditioning systems, new challenges are brought by these government regulations in selecting best quality refrigerant and components for handling the specific refrigerant’s performance characteristics and technical challenges. This implies an imperative first step towards a greener and cleaner cooling direction.
Key players identified by the report include Petra Engg Industies Co., Lennox International, Honeywell International, Gree Electric Appliances, Samsung Electronics, Daikin Industries Ltd., and Midea Group Co. Ltd. Other prominent players in the market include Fuji Electric, Carrier Corp, Hitachi and UTC.
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