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The air-conditioning equipment market size has demonstrated robust growth, surging from $209.74 billion in 2023 to $220.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.3%. This growth in the historic period is attributed to the expanding construction industry, rising urbanization, increased demand for air conditioners, and a boost in disposable income. Looking ahead, the air-conditioning equipment market is poised for strong growth, reaching $275.47 billion in 2028 with a CAGR of 5.7%. Factors contributing to this projected growth include rising global temperatures, increasing demand for energy-efficient solutions, and government regulations and initiatives. Significant trends in the forecast period involve a focus on wind-free technology, the incorporation of smart and connected technologies, the utilization of sustainable refrigerants, and an uptick in mergers and acquisitions, shaping the future landscape of the air-conditioning equipment industry.

The demand for air-conditioning equipment is set to surge due to increasing urbanization and industrialization trends. The growing urban population and the rise in industrial activities are expected to create a substantial demand for HVAC equipment, including air-conditioning systems. Projections from Our World In Data estimate that the global urban population will reach about 7 billion people by the end of 2050. According to the United Nations-Habitat’s World Cities Report 2022, urbanization in is predicted to grow to 675 million by 2035. This represents the second-highest urban population, following China’s 1 billion urban residents. The rapid pace of urbanization is a key driving force behind the growth of the air-conditioning equipment market, anticipating a rise from $X billion in 2023 to $Y billion in 2024 at a compound annual growth rate (CAGR) of Z%. The forecast for 2028 indicates further growth, reaching $W billion.

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What Are The Key Trends That Influence Air-Conditioning Equipment Market Share Analysis?

In the air-conditioning equipment market, the development of sustainable systems, such as solar-powered air-conditioning units, is becoming a significant trend. These systems are gaining popularity as consumers seek to reduce their carbon footprints. For example, in October 2022, iAIRE, LLC, a US-based HVAC equipment manufacturer, launched its patented solar HVAC system. This system is designed for homes and businesses in the USA, offering cost savings on equipment, installation, and operation while performing up to 50% more effectively than other systems.

Which Market Players Are Driving Growth In The Air-Conditioning Equipment Market?

Major companies operating in the air-conditioning equipment market report are Daikin Industries Ltd, Midea Group Co. Ltd, Haier Group, Carrier Global Corporation, Hitachi Ltd, Samsung Electronics, Mitsubishi Electric Corporation, LG Electronics, Fujitsu General Ltd., Electrolux AB, LEEL Electricals Ltd (Lloyd), Johnson Controls-Hitachi Air Condition India Ltd, Amber Enterprises India Ltd, Blue Star Ltd , Voltas Ltd, AUX Group, Gree Electric Appliances, Inc, Abionik Group, Accruent, Actron Engineering Pty Ltd, WAECO, Stefani Spa, OAG Industries, ERRECINQUE S.R.L , VULKAN Group, KLIMA-THERM Group , Frapol, Autoclima, CPS, Aquatherm, MDV, KOMFOVENT, CaptiveAire Systems, Greenheck Fan Corporation, Twin City Fan Companies Ltd, Honeywell International Inc, Nortek Air Solutions , Carrier Airconditioning & Refrigeration Limited, MW Solutions, Nomad Go, Maxell Trading LLC, Daikool Industries Limited, Geo Electrical Contracting Trading Company LLC, SilkAir International LLC, Temperature Control Company LLC, Tecnalco Aluminum Technical Engineering Company, Aaf-Mcquay (L.L.C) , Arshi Air Conditioning & Refrigeration Co, Air Group, Ebair Condition, Miraco, Airmaster Emirates, Van Tech, Airco, HVAC Distributors, ITD Group

How Is The Global Air-Conditioning Equipment Market Segmented?

The air-conditioning equipment market covered in this report is segmented –

1) By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Other Product Types
2) By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
3) By Application: Residential, Commercial, Industrial

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The Air-Conditioning Equipment Global Market Report 2024 provides an overview of the air-conditioning equipmentmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The air-conditioning equipment market forecast analyzes air-conditioning equipment market size, air-conditioning equipment market share, leading competitor and their market positions.

The Table Of Content For The Air-Conditioning Equipment Market Include

1. Air-Conditioning Equipment Market Executive Summary
2. Air-Conditioning Equipment Market Segments
3. Air-Conditioning Equipment Market Size And Template Market Growth Rate
4.  Key Air-Conditioning Equipment Market Trends
5. Major Air-Conditioning Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Air-Conditioning Equipment Market
26. Top Air-Conditioning Equipment Companies
27. Air-Conditioning Equipment Market Opportunities And Strategies
28. Air-Conditioning Equipment Market, Conclusions And Recommendations
29. Appendix

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