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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Air Conditioning Systems markets. Global sales of Air Conditioning Systems is projected to reach 148.3 million units by 2018, stimulated by rising global temperatures, growing incomes and an increasing demand for energy saving products.
San Jose, California (PRWEB) February 19, 2013
Follow us on LinkedIn – Over the past two decades, the air conditioner industry has undergone several developments, even as its role in the economy changed significantly. Hitherto a luxury proposition limited to wealthy and prosperous layer of the society, comfort conditioning is fast becoming a necessity in most nations. This metamorphosis has opened a completely new world of opportunities for the market.
Global warming continues to remain a major factor propelling market demand, especially in the residential segment. Global warming, along with the depletion of ozone layer and the El Nino effect make up for the primary reasons that create the need for air conditioning systems. Considering the macroeconomics, demand for room air conditioners the world over will be boosted by improvement in housing starts. The market for packaged air conditioners will be driven by growing number of building permits, especially commercial constructions such as malls, industrial facilities, and office space, among others. Also, rapid strides in industrialization, technical advancements, falling prices of air conditioning technologies, increased affordability among consumers in developing markets present a sizeable opportunity for the global AC manufacturers in the long-term.
Despite a slowdown in the market caused by the economic uncertainty worldwide, the market continues to stay afloat, thanks to the growing adoption of these white goods in emerging markets such as Brazil, Indonesia, Russia and India. Replacement need is also expected to generate a substantial portion of demand for air conditioning systems across the globe, particularly in matured markets such as the US and Europe.
The AC industry witnessed a sea of change in the technology over the past few years, employed largely as a result of consumers’ desire to have advanced micro controls integrated into their systems, and also due to a spurt in demand for eco-friendly refrigerants. Energy efficient air conditioning systems, inverter air conditioners and solar powered air conditioners comprise the new and upcoming technological trends in the AC industry. In fact the newfound focus on energy efficiency for air conditioners has drawn spotlight on inverter based air conditioning systems in recent years. Inverter based room air conditioning systems, capable of offering considerable reductions in consumption of power, by controlling voltage and current frequency by adjusting compressors’ running speed, has been gaining widespread popularity over the last few years, both among consumers and manufacturers.
Deployment of more environment-friendly refrigerants in air conditioners is likely to increase, attributable to global attempts for phasing out consumption and production of Chlorofluorocarbon and Hydrochlorofluorocarbon, in line with the Montreal Protocol. Regionally, in the US, beginning 2015, all split central ACs that are installed in the Southeastern region of the country are mandated to meet the requirements of 12.2 EEE and 14 SEER. Similarly, from 2013, the EU is set to adopt a new labeling for energy efficiency for air conditioners.
As stated by the new market research report on Air Conditioning Systems, Asia-Pacific represents the largest global market, led by developing markets such as China, India and Korea. Advances in the Asia-Pacific market is fuelled by factors such as encouraging growth in its urban population, tropical climate in most countries, increasing living standards and rising per capita incomes. Alongside the high consumption levels, relatively low costs of production have also established Asia-Pacific as a global hub for air conditioner manufacturing. Room air conditioners continue to dominate the global ACs market, supported by improving income levels. The segment proves to be the most lucrative market segment for industry participants. On the other hand, with commercial construction undergoing a rather lull phase in comparison to the previous years dragged down by the recent spate of recession and Eurozone crisis, demand for packaged ACs continues to remain tepid, particularly in developed regions of Western Europe and North America.
Major players profiled in the report include Carrier Corporation, Daikin Industries, Ltd., Electrolux AB, General Electric Company, GD Midea Holding Co., Ltd., Hitachi, Ltd., LG Electronics Inc., Mitsubishi Heavy Industries, Ltd., Panasonic Corporation, Samsung Electronics Corp., Toshiba Group, Trane, Whirlpool Corporation, and Zhu Hai Gree Corporation, among others.
The research report titled “Air Conditioning Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Air Conditioning Systems (in Thousand Units) for geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Middle East & Africa and Latin America. Product segments analyzed include Room Air Conditioners and Packaged Air Conditioners.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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