Global Air Conditioning Market Research and Forecast 2018-2023

Necessity is the mother of invention and air conditioners are undeniably one among those inventions that have brought a major revolution for mankind. The increasing urbanization in developing nations and a high impact of western culture on the lifestyle of people is leading to the rapid adoption of air conditioners in the global scenario. A significant growth, particularly in China, India, and South Africa, can be seen while looking at the facts of the past some decades. Apart from the urbanization, tropical weather has surged the demand for air conditioners in these regions. Moreover, an increase in the disposable income, which has ultimately boosted the purchasing power of consumers of these regions, is another augmenting factor responsible for the growth of this market. On the basis of its application, the air conditioners have its utilities in commercial, healthcare, residential, institution, industrial, automotive, and other sectors. Among this wide category, residential air conditioners hold the maximum market share due to the rapid change in the lifestyle of people. The residential air conditioners are further fragmented into split, window, and others that are majorly being used in homes these days. If talking about the automotive sector, the air conditioner market has made its own impact in the mainstream automotive market. The utility of motor vehicle air conditioning (MVAC) systems can be efficiently seen in bus, truck, car and even rail vehicles. The main motive behind designing of MVAC is providing the maximum comfort to these vehicle passengers by enhancing the cooling within. For off-road, vehicles such as mining, construction, and agricultural equipment, related appliances perform the same job. Thus it is quite evident from the rising demand of MVAC systems that the global air conditioning market is further expected to heat it up.

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Considering the healthcare sector, a steady cold environment is must for various conditions starting from patient’s concern to the up keeping of various drugs and solutions. It would be uncalled for mentioning the significance of the good quality air simultaneously with the constant healthy temperature that will ultimately provide comfort to the patient. Moreover, it is been needed for a better recovery and even in the prevention of various infections. As a matter of fact, hot and humid climate is anyway a favorable condition for bacteria and other pathogens that are primarily the cause of various infections. Apart from a patient’s perspective, air conditioners play a crucial role in the laboratories and pharmaceutical industries where the temperature is a major concern. Several drug compositions, liquids, ointments, sanitizers, creams, drops, and others are strictly advised to be kept at a certain temperature due to its complex chemical formation. If not followed the advice, it can result in reduced effect or even the side effect of the medicine. Similarly, when it comes to medical equipment and machines, the role of air conditioners become more critical. In fact, several types of research being conducted in research centers heavily demand the air conditioners as the microbes and chemical compositions are highly sensitive to temperature. As the prevalence of various chronic diseases that need research and development for its treatment is surging; the demand for innovative drugs and researches to discover the medication for these diseases also rise. Therefore, it will lay a significant impact on the demand for the global air conditioning market.

It is evident from the above-mentioned examples that the penetration of the air conditioning market is already high in different sectors. Unfortunately, there are huge traces of carbon emissions from this surging use of air conditioners worldwide. As a result, governments of different nations and environmental concerned authorities have laid strict guidelines that decide the carbon emission range for these countries. This is a major concern that hampers the growth of the air conditioning market across the globe. However, as the demand for the air conditioners has become the need of the hour for various sectors; different market players are shifting towards developing the environment or the eco-friendly air conditioners. This major step can bring revolution in environmental conservation as it is capable enough of dealing with the major challenge of air pollution by curbing down the carbon emission rates worldwide. The new residential air conditioner and heat pump standards are the best illustration of a joint effort between electric utilities, industry, and energy efficiency supporters in the US. It will not only result in the downfall of carbon emissions but can also pave new ways for the innovation of the next generation air conditioner. After all, the actual development will make sense only when technological advancement can make this utility accessible to everyone by cutting down the constraints of costs and energy consumption. The collaboration of these entities will benefit the most to the manufacturers, stakeholders, and investors of the air conditioning industry ultimately augmenting the growth of the market.

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