The air conditioning (AC) systems are used for maintaining comfortable body-friendly temperature indoors. According to The Japan Refrigeration and Air conditioning Industry Association, the global AC demands reached 110.56 million units with a CAGR of 8.1% in the FY 2017. China held the biggest air conditioner market share growing at the remarkable CAGR of 13.2% in the world and is still leading the pack in global air conditioner demands. Furthermore, air conditioning is a part of the heating, ventilating and air conditioning (HVAC) market. The global HVAC market was valued at $156.33 billion in the year 2017 and is expected to surpass $242.59 billion by 2023 at a positive CAGR of 7.6%. The increasing disposable income in developing nations has accelerated the growth in the air conditioning market.

Air conditioning is the process of eradicating heat and moisture from an indoor occupied space. To provide a comfortable indoor environment, air conditioner uses components such as dehumidifiers, condenser, chiller, evaporators, condensing units, transducers, actuators, dampers, and evaporator coils.

The information is based on a recent business intelligence report from Industry ARC, titled “ [URL=https://industryarc.com/PressRelease/686/Air-Conditioning-Market-Research.html]Air Conditioning Market[/URL] by product type (unitary, split, others), by design, by mount type (windowed, standalone, roof top, others), by capacity, by energy rating, by component, by end use (residential, commercial, industrial,); by geography - forecast (2018 - 2023).” The report suggests that the air conditioner market size is expected to continue generating high revenues for air conditioner manufacturers in the forecast period.

Air Conditioning Market Trends

• The concept of centralized air conditioning systems in commercial places is in trend. Air conditioning systems comes pre-installed in these infrastructures. Moreover, the rising infrastructure development is further anticipated to argument the demands in the air conditioning market.

• The recent innovations in the air conditioner technology emerged with smart air conditioner and inverter powered air conditioners. The introduction of these variants was followed by a hyped demands of air conditioners from both the developed and developing economies around the world. The plethora of air conditioner variants has expanded to portable and mobile air conditioning systems and chillers which are expected to show a healthy growth in the air conditioner market.

• However, the air conditioner market is facing environment related restraints. The cumulative carbon emissions from air conditioners has increased the magnitude of global warming and is affecting the atmosphere adversely. Regulatory norms from various governments has encouraged the production of environment-friendly and energy efficient systems. The migration from the traditional air conditioners is much needed owing to the growing degree of concern over the environs.

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The global air conditioner market is flourishing owing to the increasing global temperature around the world. On the other hand, this market faces challenges related to environment related issues. Innovations in the manufacturing of air conditioners is anticipated to contribute to the exponential growth in the global air conditioner market.