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The
global air conditioning systems market is estimated to grow at a CAGR
of 10.5% between 2012 and 2018, reaching US$178.4 billion by the end
of 2018, states a study by Transparency Market Research. The report,
titled ‘Air Conditioning Systems Market - Global Scenario, Trends,
Industry Analysis, Size, Share and Forecast, 2012 – 2018’, also
finds that Asia Pacific dominates the global air conditioning systems
market with a 34.4% share as of 2012, and will continue to remain in
a dominant position over the next three years. In the APAC region,
consumers with higher disposable income are seeking a comfortable
lifestyle, and air conditioning is one of the means to achieve this
end.
The
report discusses the intricacies of the impact that energy efficiency
initiatives will have on the global air conditioning systems market.
Currently, air conditioners are regarded as appliances that consume
massive amounts of energy. Manufacturers are thus innovating to
change this perception – especially in the backdrop of
environmental regulations. The market currently offers considerable
scope for the development of energy-efficient air conditioning
systems.
Free
PDF Sample report can be obtained at:
North
America trails the APAC region in terms of market share. Here, the
dynamics of the market are slightly different in that demand stems
chiefly from the need to replace or maintain older systems. Consumers
installing new air conditioning systems prefer energy-efficient
models or those with low emissions. Moreover, products that boast
advanced features and new climate control/sensible cooling
technologies are preferred. The report finds that there is an
expanding market for air conditioning systems that work on solar
power or other unconventional energy sources. The stringent energy
and power-consumption regulations here are responsible for the change
in consumer demand.
The
growth of the air conditioning systems market largely depends on the
state of the construction and housing sector. With higher
construction permits being awarded, the need for equipment such as
air conditioning systems rises. A rise in the total spending across
industry verticals is being observed. This aspect will likely drive
the global air conditioning systems market over the next few years,
which will witness demand from end users such as manufacturing units
and other small to medium enterprises.
The
TMR report observes that North America and Europe offer considerable
scope for the development of the air conditioning systems market.
According to the estimates of this report, the portable air
conditioning systems market in North America is poised to grow from
its 2012 figures of 973.7 thousand units to about 1,743.7 thousand
units by the end of 2018. This marks an estimated compounded annual
growth rate (CAGR) of 10.2% between 2012 and 2018.
However,
in regions that are exposed to extreme weather conditions, the
adoption rate of split air conditioning systems is higher. Split air
conditioners offer the advantage of better temperature control,
making them suited to very hot or very cold regions. Portable systems
are more reasonable as compared to window-fitted air conditioning
systems.
However,
the former product category will likely witness higher prices as the
demand gradually goes up.
The
report profiles leading market players including but not limited to:
Samsung Electronics, Daikin Industries Ltd., Mitsubishi Corporation,
LG Electronics, Hitachi Ltd., Panasonic, Carrier, and Sharp
Corporation.
About
Us
Transparency
Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of analysts, researchers, and consultants
use proprietary data sources and various tools and techniques to
gather and analyze information.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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