Global Air Conditioning Systems Market to Reach 150.3 Million Units by 2027
Amid the COVID-19 crisis, the global market for Air Conditioning Systems estimated at 112.8 Million Units in the year 2020, is projected to reach a revised size of 150.3 Million Units by 2027, growing at aCAGR of 4.2% over the period 2020-2027. Room Air Conditioner, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach 132.7 Million Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Packaged Air Conditioner segment is readjusted to a revised 2.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at 30.4 Million Units, While China is Forecast to Grow at 7.5% CAGR
The Air Conditioning Systems market in the U.S. is estimated at 30.4 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 32.5 Million Units by the year 2027 trailing a CAGR of 7.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.We bring years of research experience to this 19th edition of our report. The 248-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others,
- AB Electrolux
- Carrier Corp.
- Daikin Air Conditioning Saudi Arabia LLC
- Daikin Airconditioning India Pvt. Ltd.
- Daikin Industries, Ltd.
- GE Appliances
- Gree Electric Appliances Inc.
- Johnson Controls-Hitachi Air Conditioning
- LG Electronics
- Midea Group
- Mitsubishi Heavy Industries Ltd.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Toshiba Carrier Corp.
- Trane Inc.
- Whirlpool Corp.