PUBLISHER: SkyQuest | PRODUCT CODE: 1677955
PUBLISHER: SkyQuest | PRODUCT CODE: 1677955
Air Conditioning Market Size, Share, and Growth Analysis, By Type (Ducted AC, Ductless AC), By Distribution Channel (Online, Offline), By Technology, By End User, By Mode, By Component, By Region - Industry Forecast 2025-2032
Global Air Conditioning Market size was valued at USD 149.2 billion in 2023 and is poised to grow from USD 159.49 billion in 2024 to USD 272.0 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).
The air conditioning (AC) industry is on track for significant growth, driven by rising global temperatures and heightened humidity levels, which are fueling demand for cooling systems. This evolving perception of AC as a necessity rather than a luxury is crucial for market expansion. Additionally, the introduction of advanced technologies, such as inverter systems and air purification features, will play a pivotal role in shaping the industry's trajectory over the coming years. With these factors in play, the AC market is positioned for robust development as consumers increasingly prioritize comfort and air quality in their environments.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Air Conditioning market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Air Conditioning Market Segments Analysis
Global Air Conditioning Market is segmented by Type, Distribution Channel, Technology, End User, Mode, Component and region. Based on Type, the market is segmented into Ducted AC and Ductless AC. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Technology, the market is segmented into Variable Refrigerant Flow Systems (VRFs), Air-to-Water Systems (ATWs), Membrane Based AC, Thermally Driven AC and Hybrid AC. Based on End User, the market is segmented into Residential, Commercial, Others, Government and Industrial. Based on Mode, the market is segmented into Conventional and Smart. Based on Component, the market is segmented into Compressor, Evaporator, Expansion Value, Drier/Receiver, Condenser, Ventilation Units and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Air Conditioning Market
The global air conditioning market is being significantly driven by the rising temperatures associated with climate change, leading to a transformation in how air conditioning units are perceived. Once considered a luxury, air conditioners are increasingly recognized as essential for comfort, especially as heatwaves become more frequent and severe. This shift in consumer perception is expected to have a notable positive impact on the overall value of the air conditioning market. As the demand for comfortable indoor climates escalates, individuals and communities alike are prioritizing air conditioning as a necessity for coping with the intensifying heat across the globe.
Restraints in the Global Air Conditioning Market
The Global Air Conditioning market is currently facing a significant constraint stemming from the rapid growth of the Heating, Ventilation, and Air Conditioning (HVAC) industry, which has led to increased automation in its products and services. While this advancement has driven demand for the production and installation of advanced systems within commercial, industrial, and residential sectors, it also presents challenges. A primary concern is the high costs associated with replacing and maintaining these sophisticated HVAC systems. This financial burden can deter potential customers and limit the market's overall growth potential, highlighting a critical issue within the expanding air conditioning landscape.
Market Trends of the Global Air Conditioning Market
The Global Air Conditioning market is witnessing a significant trend towards product innovation, driven by the increasing demand for energy-efficient cooling solutions. Leading manufacturers, such as LG, are at the forefront, launching advanced units like window inverter air conditioners equipped with Dual Inverter technology, which substantially minimizes energy consumption compared to traditional systems. This pivot not only caters to environmentally conscious consumers but also addresses rising operational costs. As competition intensifies, firms are focusing on enhancing their offerings with value-added features, solidifying their market positions and responding effectively to consumers' evolving needs for sustainable and cost-efficient air conditioning options.
Table of Contents
Introduction
- Objectives of the Study
- Scope of the Report
- Definitions
Research Methodology
- Information Procurement
- Secondary & Primary Data Methods
- Market Size Estimation
- Market Assumptions & Limitations
Executive Summary
- Global Market Outlook
- Supply & Demand Trend Analysis
- Segmental Opportunity Analysis
Market Dynamics & Outlook
- Market Overview
- Market Size
- Market Dynamics
- Drivers & Opportunities
- Restraints & Challenges
- Porters Analysis
- Competitive rivalry
- Threat of substitute
- Bargaining power of buyers
- Threat of new entrants
- Bargaining power of suppliers
Key Market Insights
- Key Success Factors
- Degree of Competition
- Top Investment Pockets
- Market Ecosystem
- Market Attractiveness Index, 2024
- PESTEL Analysis
- Macro-Economic Indicators
- Value Chain Analysis
- Pricing Analysis
Global Air Conditioning Market Size by Type & CAGR (2025-2032)
- Market Overview
- Ducted AC
- Split Central AC
- Packaged Central AC
- Ductless AC
- Floor Mounted Mini Splits
- Wall Mounted Mini Splits
- Single Zone Mini Splits
- Window AC
- Portable AC
- Cassette AC
Global Air Conditioning Market Size by Distribution Channel & CAGR (2025-2032)
- Market Overview
- Online
- Brand Websites
- E-Commerce Websites
- Offline
- Multi Brand Stores
- Exclusive Stores
- Distributers
- Others
Global Air Conditioning Market Size by Technology & CAGR (2025-2032)
- Market Overview
- Variable Refrigerant Flow Systems (VRFs)
- Air-to-Water Systems (ATWs)
- Membrane Based AC
- Thermally Driven AC
- Hybrid AC
Global Air Conditioning Market Size by End User & CAGR (2025-2032)
- Market Overview
- Residential
- Commercial
- Retail
- Corporate Buildings
- Education
- Others
- Government
- Industrial
Global Air Conditioning Market Size by Mode & CAGR (2025-2032)
- Market Overview
- Conventional
- Smart
Global Air Conditioning Market Size by Component & CAGR (2025-2032)
- Market Overview
- Compressor
- Evaporator
- Expansion Value
- Drier/Receiver
- Condenser
- Ventilation Units
- Others
Global Air Conditioning Market Size & CAGR (2025-2032)
- North America (Type, Distribution Channel, Technology, End User, Mode, Component)
- US
- Canada
- Europe (Type, Distribution Channel, Technology, End User, Mode, Component)
- Germany
- Spain
- France
- UK
- Italy
- Rest of Europe
- Asia Pacific (Type, Distribution Channel, Technology, End User, Mode, Component)
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America (Type, Distribution Channel, Technology, End User, Mode, Component)
- Brazil
- Rest of Latin America
- Middle East & Africa (Type, Distribution Channel, Technology, End User, Mode, Component)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Competitive Intelligence
- Top 5 Player Comparison
- Market Positioning of Key Players, 2024
- Strategies Adopted by Key Market Players
- Recent Developments in the Market
- Company Market Share Analysis, 2024
- Company Profiles of All Key Players
- Company Details
- Product Portfolio Analysis
- Company's Segmental Share Analysis
- Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
- Daikin Industries, Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Carrier Global Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Johnson Controls International plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Trane Technologies plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- LG Electronics Inc. (South Korea)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Mitsubishi Electric Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Panasonic Corporation (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Samsung Electronics Co., Ltd. (South Korea)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Hitachi, Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Gree Electric Appliances, Inc. of Zhuhai (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Midea Group Co., Ltd. (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Haier Group Corporation (China)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Lennox International Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Rheem Manufacturing Company (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Fujitsu General Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Ingersoll Rand Inc. (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- United Technologies Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Whirlpool Corporation (USA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Danfoss A/S (Denmark)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Conclusion & Recommendations
