Japan Air-Conditioning & Refrigeration Market was valued at USD 12.03 Billion in 2022 and is projected to reach USD 17.87 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The Global Air-Conditioning And Refrigeration Market Is Experiencing Significant Growth, Driven By Rising Urbanization, Increasing Disposable Incomes, And A Heightened Focus On Energy-Efficient Solutions. In 2022, The Market Was Valued At Approximately Usd 129.46 Billion And Is Projected To Expand At A Compound Annual Growth Rate (Cagr) Of 6.7% From 2023 To 2030.
Several Key Trends Are Shaping This Market:
Energy Efficiency And Sustainability: Consumers And Industries Are Prioritizing Eco-Friendly And Energy-Efficient Air-Conditioning Systems. The Adoption Of Natural Refrigerants And Advanced Technologies, Such As Variable Refrigerant Flow (Vrf) Systems And Internet Of Things (Iot)-Enabled Devices, Is On The Rise.
Smart Technology Integration: The Integration Of Air-Conditioning And Refrigeration Systems With Smart Home Automation Is Becoming Increasingly Popular, Offering Users Enhanced Control And Energy Management Capabilities.
Regional Growth In Asia Pacific: Rapid Urbanization And Rising Incomes In Countries Like China And India Are Contributing To The Asia Pacific Region Holding The Largest Market Share In The Air-Conditioning And Refrigeration Industry.
From My Personal Experience, The Demand For Portable Air Conditioners And Split Systems Has Surged, Especially In Residential Settings. Their Flexibility And Ease Of Installation Make Them A Preferred Choice For Many Homeowners.
However, The Market Faces Challenges. New Federal Regulations Mandating The Use Of Environmentally Friendly Refrigerants Have Led To Increased Costs For Hvac Systems, With Prices Rising By 30-50% Compared To Six Months Ago. Homeowners With Older Systems May Find Upgrades More Economical In The Long Run, Despite The Initial Investment.
In The Commercial Sector, Companies Like Carrier Global Have Reported Better-Than-Expected Profits, Driven By The Demand For Heating, Ventilation, And Air Conditioning Products. In The Fourth Quarter, Carrier'S Hvac Segment Experienced An 11% Organic Sales Growth, Particularly In The Americas' Commercial And Residential Sectors.
Looking Ahead, The International Energy Agency (Iea) Predicts That The Growing Use Of Air Conditioning Will Be A Significant Driver Of Global Electricity Demand Over The Next Decade. As Temperatures Rise And More Households In Developing Countries Adopt Air Conditioning, Electricity Consumption Is Expected To Increase Substantially.
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Daikin
Gree Electric Appliances
Midea
Mitsubishi Electric
Panasonic
Toshiba Carrier
Blue Star
Electrolux
Haier
Hitachi
Ingersoll-Rand
Johnson Controls
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Air-Conditioning & Refrigeration Market
Company
Home
Others
Based on Types the Market is categorized into Below types that held the largest Air-Conditioning & Refrigeration market share In 2023.
Airside Systems
Chillers
Portables
Single Packaged
Splits
Window Units
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Air-Conditioning & Refrigeration Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Air-Conditioning & Refrigeration Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Air-Conditioning & Refrigeration Market, By Type
6. Global Air-Conditioning & Refrigeration Market, By Application
7. Global Air-Conditioning & Refrigeration Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Air-Conditioning & Refrigeration Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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