Air Conditioning Equipment Market Valuation USD 144.3 billion by 2032
Air Conditioning Equipment Market projected to grow at a CAGR of 4.8% from 2023 to 2032.
WILMINGTON, DELAWARE, UNITED STATES, July 23, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, the air conditioning equipment market size was valued at $89.9 billion in 2022, and is estimated to reach $144.3 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.
Top Companies
Hitachi Ltd, Mitsubishi Electric, Panasonic Corporation, Midea Group Co., Ltd., Samsung Electronics, Sharp Corporation, Electrolux AB, LG Electronics, Johnson Controls, and Daikin Industries, Ltd.
Request Sample Pages: https://www.alliedmarketresearch.com/request-sample/5264
Asia-Pacific held the highest market air conditioning equipment market share in terms of revenue in 2022, accounting for more than one-third of the global air conditioning equipment market size in terms of revenue, and is likely to dominate the market during the forecast period.
The Europe and LAMEA region is expected to witness the fastest CAGR of 4.9% from 2023 to 2032.
Air conditioning equipment refers to devices and systems designed to control and maintain indoor air temperature, humidity, and quality for comfort or industrial processes. The primary purpose of air conditioning is to create a comfortable living or working environment by regulating the temperature and humidity of the air. There are various types of air conditioning equipment, ranging from small residential units to large industrial systems.
Rise in population, which is anticipated to positively influence the residential and commercial constructions expected to increase demand for air conditioning equipment market. For instance, rise in population in Gulf countries anticipated to contribute significantly to construction spending in GCC countries. The regional population analysis is estimated to reach over 600 million by 2050.
This is expected to propel air conditioning equipment market growth due to rise in construction activities in the infrastructure and building sector, particularly education, housing, and healthcare infrastructure, to support communities.
Air conditioning equipment refers to a set of devices and systems designed to control and regulate the temperature and humidity within a closed space. Further, owing to economic growth in emerging markets continues to surge, the demand for air conditioners anticipated to witness growth during the forecast period.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/5264
The air conditioning equipment market expected to be driven by factors such as the promising growth of the construction and tourism industries. Furthermore, increase in disposable incomes of individuals across the globe projected to encourage the uptake of a variety of air conditioning systems during the forecast period.
Factors such as rising trend inclination of consumers toward energy-efficient systems and the growing popularity of portable air conditioning systems positively impact the air conditioning equipment market trend.
Air conditioning equipment refers to a set of devices and systems designed to control and regulate the temperature and humidity within a closed space. Further, owing to economic growth in emerging markets continues to surge, the demand for air conditioners anticipated to witness growth during the forecast period.
Governments of various countries focus on efficient air conditioning systems. For instance, in February 2020, Energy Efficiency Services Limited (EESL), a joint venture of four Public Sector Enterprises under the administrative control of the Ministry of Power, Government of India, announced the launch of the Super-Efficient Air Conditioning Program.
This program is aimed at promoting the use of energy-efficient technologies and reduce energy consumption. Through this program, the Ministry of Power in India also aims to address India’s Hydrochlorofluro carbons Phase-out Management Plan and Cooling Action Plan by 2032.
Buy This Report (301 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3Skf63v
The air conditioning equipment market scope is segmented on the basis of type, application and region. On the basis of type, it is classified split air conditioner, window air conditioner, chiller air conditioner, and packaged air conditioner. On the basis of application, it is divided into residential, commercial, and industrial.
Trending Reports in Energy and Power Industry:
Air Conditioning Equipment Market
Gasketed Plate Heat Exchanger Market
Global Tankless Water Heater Market
Pressure Vessel market
Thermal Energy Storage Market
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
