Global Air Conditioning Market Research and Forecast 2018-2023
Air conditioning is a process of removing heat and moisture from a space, by cooling the area. The utilization of the air conditioning has increased in the developing countries due to increase in the high disposable income of individual and lifestyle changes. ACs are utilized in different sectors such as domestic sectors, commercial sectors & industrial sectors. The increased demand for ACs has been observed in all the sectors. Government regulations on refrigerants are forcing the manufacturers to develop energy efficient and eco-friendly products. There have been many technological developments has been observed in the market due to phasing out of key refrigerants. Once the most preferred refrigerants CFCs will be completely replaced by other refrigerants in next few years.
Similarly, HCFCs, also phasing out and completely replaced by HFCs and other refrigerants in near future. Manufacturers are moving towards eco-friendlier alternatives such as HFOs and natural refrigerants. New product such as power efficient and inverter ACs are driving the global market. The growth of automobile sector is also influencing the global air conditioning market.
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Geographically, the global air conditioning market is divided into North America, Europe, Asia-Pacific, and Rest of the World. Asia Pacific represents the largest market and is considered the fastest developing market in the global market. The interest for air conditioning systems in Asia Pacific is expected going to be driven by Japan, China, and India. Moreover, the technological advancement in air conditioning is expected to drive the interest for air conditioning systems during the forecast period.
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RESEARCH METHODOLOGY
The market study of global air conditioning market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
Secondary sources include:
- Financial reports of companies involved in the market
- Whitepapers, research-papers and news blogs
- Company websites and their product catalogue.
- Supplier Websites such as Alibaba, amazon for pricing analysis.
The Report is intended for AC manufacturers, AC parts manufacturer, Investing companies, Government Organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on pricing, market size, intended quality of the product preferred by consumers, initial norms and vehicle segment. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models such as PEST analysis, Porter five analysis delivering insights into the market for better business decisions.