Air Conditioner Market Size Worth $245.12 Billion By 2032 | CAGR: 6.10%

The global air conditioner market size is expected to reach USD 245.12 Billion by 2032, according to a new study by Polaris Market Research. The report “Air Conditioner Market Share, Size, Trends, Industry Analysis Report, By Product Type; By Distribution Channel (Online, Multi-brand Stores, Exclusive Stores, and Other Channels); By End-User; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global air conditioner market is experiencing steady growth driven by several factors. Rising global temperatures, particularly in regions like Asia Pacific, are increasing the demand for air conditioners in both residential and commercial sectors. The emergence of affluent middle classes in developing countries, such as India and China, has further contributed to the market growth. Additionally, the need for energy-efficient cooling solutions, driven by increasing energy costs and environmental concerns, is propelling the demand for advanced and eco-friendly air conditioning systems.

The market is witnessing a shift towards smart and connected air conditioners, with the advent of IoT and smart home technologies. Integration of smart features, such as remote control, energy monitoring, and voice command functionalities, is enhancing the user experience and driving the adoption of smart air conditioning systems. Furthermore, government regulations and initiatives promoting energy efficiency are encouraging consumers and businesses to replace older, less efficient units with energy-saving models.

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The COVID-19 pandemic had a significant impact on the air conditioner market. With lockdowns and restrictions imposed worldwide, there was a temporary slowdown in construction activities and reduced consumer spending. However, as people spent more time at home and prioritized indoor comfort, there was an increased demand for residential air conditioners. Additionally, the focus on indoor air quality and ventilation led to the adoption of air purification technologies in air conditioning systems.

Air Conditioner Market Report Highlights

• Window air conditioners hold a significant market share in the air conditioner market due to their easy installation, affordability, efficient cooling, and continuous technological advancements, attracting budget-conscious consumers.
• The residential segment dominates the market revenue due to rising temperatures, expanding middle and lower classes, increased awareness of health risks, and the demand for energy-efficient and smart air conditioners in residential buildings.
• The Asia Pacific region leads the global market due to rising temperatures, growing middle-class affluence, demand for affordable air conditioners, and the influence of e-commerce and discounts.
• The global key market players include Carrier, Daikin Industries Ltd, Electrolux, Emerson Electric Company, Gree Electrical Appliances Inc., Haier Group Corporation, Hitachi-Johnson Controls Air Conditioning Inc., LG Electronics Inc., Midea Group Co. Ltd, Panasonic Corporation, Robert Bosch, Toshiba Corporation, and Whirlpool

Polaris Market Research has segmented the Air Conditioner market report based on product type, distribution channel, end-user, and region:

Air Conditioner, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Split and Multi Split
• Window
• Variable Refrigerant Flow (VRF)
• Packaged Air Conditioner (PAC)
• Others (Chillers and Portables)

Air Conditioner, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Online
• Multi-brand Stores
• Exclusive Stores
• Other Channels

Air Conditioner, End User Outlook (Revenue - USD Billion, 2019 - 2032)

• Commercial
• Residential

Air Conditioner, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Air Conditioner Market Report Scope