The new report by Expert Market Research titled, ‘Global Central Air Conditioning Size Report and Forecast 2023-2028’, gives an in-depth analysis of the global central air conditioning market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2023-2028)
• Forecast CAGR (2023-2028): 6.7%
Changing climatic conditions and the rising demand from the commercial construction sector are projected to drive the market growth. The home and commercial HVAC industries are being influenced by rising income levels, improving standards of living, and modernisation; therefore, the demand for technologically advanced and energy-efficient central air conditioning systems is expanding. The application of technologically advanced concepts has resulted in improved product operations, which is leading to global adoption of the product. Furthermore, the increasing number of commercial buildings and the increasing construction activities will have a positive impact on the growth of the global market.
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Industry Definition and Major Segments
Central air conditioning is a system that cools air in a central place and distributes it to and from rooms using one or more fans and ducting. Cool air is pumped through a system of supply and return pipes in central air conditioning systems. Cool air is transferred from the air conditioner to the house through supply channels and registers (that is cavities in walls, floors, or ceilings covered with grills).
By type, the market is segmented into:
• Split System
• Packaged Unit
• Rooftop System
The major applications of the market are:
• Residential
• Commercial
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
In the near future, the presence of multiple large-scale enterprises will have a favourable impact on the overall market’s growth. Artificial intelligence (AI) and the internet of things (IoT) will increase global demand for the goods. Central air conditioning systems are frequently utilised in large commercial spaces, like airports, hotels, multiplexes, and hospitals, all over the world due to the ability of the product to regulate the temperature of large spaces. The market’s expansion will be aided in the coming years by significant investment in product research and development. The increasing number of product launches, among other factors, will have a significant impact on market growth in the coming years.
Key Market Players
The major players in the market are Daikin Industries Ltd., Carrier Corporation, Lennox International Inc., Blue Star Limited, and Fujitsu General Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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