Air Conditioning Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Global Air Conditioning Systems Market: Overview
Various thermal environmental factors, such as air pressure, temperature, and humidity are important in the maintenance of healthy. All through the year, these factors keep changing and adaptations to these changing environmental factors could be a challenge, particularly whilst dealing with closed areas with scant ventilation. Air conditioners are increasingly preferred in both commercial and residential spaces to regulate these environmental factors. These factors are foreseen to foster growth of the global air conditioning systems market over the projection timeline, from 2020 to 2030.
Increasing dispensable income of consumers together with the improved standard of living are ascribed to the rising demand for room air conditioners in the residential spaces. However, the demand from the healthcare, food and beverage, and construction sector are also estimated to play important role in the development of the global air conditioning systems market in the forthcoming years.
This report on the global air conditioning systems market comes with an elaborate overview of the key equipment, application, distribution channel, and regional markets. This study also makes an offering of all the required data pertaining to market developments made by important stakeholders and players. It also makes an inclusion of the analysis of the competition prevailing in the global air conditioning systems market over the assessment tenure, from 2020 to 2030. This study makes utilization of the analytical triangulation method so as to make an estimation of the global air conditioning systems market. It also uses top-down and bottom-up approaches to arrive at those estimations.
Air Conditioning Systems Market: Key Trends
The global air conditioning systems market is likely to gather traction from the increased preference for solar power driven electrical appliances. In the past decade, there have been developments in the sector of renewable energy as there has been growing realization across the globe about the drawbacks of use of traditional sources of energy. The consumption of energy by air conditioners across the globe is disturbing, which has led to a shift from non-renewable sources to renewable ones, both by the manufacturers and the customers alike. This has led to the growing use of solar power as opposed to conventional energy sources. In addition to that, there are strict rules pertaining to the consumption of energy via electronic applications, such as air conditioning systems. These factors are likely to drive the demand for solar power driven electrical appliances in the years to come.
Air Conditioning Systems Market: Competitive Assessment
There has been increasing number of developments in the global air conditioning systems market. These market developments are expected to play an important role in the growth of the market. A case in point is the January, 2018 announcement by Ingersoll-Rand plc, which declared its acquisition of ICS Group Holdings Limited. Following the acquisition, ICS Group Holdings Limited became a part of the HVAC (commercial Heating, Ventilation, and Air Conditioning) business. This strategic move is estimated to fortify the presence of Ingersoll-Rand plc in the market and cater to the needs of an extensive range of customers in the Europe market.
Some of the well-known players in the global air conditioning systems market are listed below:
Global Air Conditioning Systems Market: Regional Assessment
In the global air conditioning systems market, Asia Pacific is expected to present immensely promising opportunities to the market participants. The region is likely to account for a considerable chunk of the market due to the phenomenal rise in the use of air conditioners in developing countries like India and China.
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