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Growth Opportunities in the global air conditioning market look promising over the next six years. Rapid technological advancements in the air conditioners and the growing development of multiplexes, hospitals are key factors driving the global air conditioning market.
Introduction of the Air Conditioning Market:
Introduction of the Air Conditioning Market:
Air conditioning refers to that process used to maintain and create air purity conditions, temperature, and humidity in the indoor spaces. Air conditioning can be applied in both the domestic and commercial environments. This process is mostly free from external conditions. The technology that is applied in air conditioning is similar, which is used in the fridges. This process is generally used in industrial applications, which are required to be operated in particular environmental conditions to perform the correct operation of the machinery or equipment.
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Air Conditioning Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Air Conditioning Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Rapid technological advancements in the air conditioners include the presence of air purification technologies and the growing development of multiplexes, hospitals, which is leading to an upsurge in the adoption of air conditioning, are some of the factors surging the growth of the air conditioning market. Moreover, the rising population growth and the growing tourism sector are developing the construction sector and encouraging the expansion of commercial and residential buildings. Some of the major factors enhancing the demand for the air conditioning industry across the world include improving economic conditions of the developing countries, growing focus on the development of energy-efficient and environment-friendly air conditioners, followed by high disposable income, rapid urbanization, and significantly changing consumer lifestyle.
An upsurge in demand for private car rental services like Ola, Uber is encouraging the demand for products to improve the consumer's experience. On the other hand, the increased initial cost of the system and maintenance cost will hinder the growth of the global air conditioning market share in terms of revenue. In addition to this, the emergence of the COVID-19 pandemic has negatively impacted the growth of the market. With the strict lockdown in several nations, there has been a substantial fall in the supplies of various components of air conditioners from China, which is influencing the production of AC worldwide. The major distributors are concerned about the customers that they may not buy these products, particularly in 2020-2021, owing to the fear of contracting the virus by using air conditioners in their homes and offices.
Key Players of the Global Air Conditioning Market:
Key Players of the Global Air Conditioning Market:
· Mitsubishi Electric Corporation
· Daikin Industries Ltd.
· Denso Corporation
· Voltas Ltd.
· Gree Electric Appliances, Inc.
· LG Electronics
· Panasonic Corporation
· Midea Group
· Toshiba Carrier Corporation
· Haier lnc.
Air Conditioning Market Segmentation:
Global Air Conditioning Market Report Segment by Type:
· Chillers
· VRF Systems
· Room/Unitary Air Conditioners
· Coolers
· Others
Global Air Conditioning Market Report Segment by End-User:
· Commercial
· Residential
· Industrial
· Automotive
Global Air Conditioning Market Report Segment by Distribution Channel:
· Supermarkets/Hypermarkets
· Specialty Stores
· Online
· Others
Global Air Conditioning Market Report Segment by Region:
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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