Global Air Conditioning Market: Overview
Air conditioning systems manage the temperature and humidity efficiently in a confined space. These systems are installed in residential buildings, commercial buildings, manufacturing industries, hotels, IT parks, retail outlets, and restaurants for one’s comfort as well as in various applications such as PCs and laptops.
Global Air Conditioning Market: Growth Factors
The technological advancement along with the rising urbanization boosts the global air conditioning market. The rising demand for air conditioning systems in the automobiles fuels the global market. The automobiles with well-equipped air conditioning system influence the customer’s purchase behavior which, in turn, is expected to drive the global air conditioning market. The increasing railway network in various regions surges the locomotive air conditioning industry, especially in the Asia-Pacific region. The need to reduce the carbon dioxide emission for environment preservation is expected to increase the demand for efficient and eco-friendly air conditioning systems. In the residential and commercial areas, the demand for inverter air conditioners and smart thermostat has surged air conditioning systems. The off-highway vehicles demand comfort but no spaces available for the system installation restrain the global market.
Global Air Conditioning Market: Segmentation
The global air conditioning market is segmented based on technology, component, vehicle type, and region. The technology segment is bifurcated into automatic air conditioning and manual or semi-automatic air conditioning. The component segment is divided into compressor, condenser, evaporator, and receiver or driver. The vehicle type segment is categorized into HCVs, LCVs, off-highway, locomotive, and passenger cars. The locomotive air conditioning system subsegment is grouped into diesel and electric locomotive. The off-highway air conditioning system subsegment is classified as agricultural tractors and construction equipment. The vehicle type segment and the agricultural tractor segment dominate the global air conditioning market.
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Global Air Conditioning Market: Regional Analysis
Asia-Pacific dominates the global air conditioning market as it manufactures vehicle on a large scale. Due to the high railway networks in emerging regions such as India and China the air conditioning industry is projected to grow rapidly. North American leads the global air conditioning market due to high demand for LCVs and also a matured automobile market. Mexico boosts the global market due to the technological advancement in the air conditioning systems in the automotive field, North American Free Trade Agreement, and its proximity to the U.S. The air conditioning industry in Europe and Germany is growing due to the rising maturation in the automotive industry.
Global Air Conditioning Market: Competitive Players
The major players in the global air conditioning market include Blue Star, Godrej, Samsung, Voltas, Panasonic, Calsonic Kansei Corporation, Hanon Systems, Denso Corporation, Keihin Corporation, Whirpool, Haier, Lloyd, ETA, Crusie, Concord, Kelvinator, IFB, and MAHLE GmBH. The other key players in the global market include Daikin Industries Ltd., GD Midea Holding Co. Ltd., Mitsubishi Heavy Industries Ltd., Hitachi Ltd., General Electric Company, Carrier Corporation, LG Electronics Inc., Electrolux AB, Zamil, Toshiba, Videocon, Vestar, Patels Airtemp, Onida, and Sharp.