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Mar 04, 2024

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Major players in the air-conditioning equipment market are Daikin Industries Ltd, Lennox International Inc, Hitachi Ltd, Panasonic Corporation, Electrolux AB, Mitsubishi Electric Corporation, MIDEA

Major players in the air-conditioning equipment market are Daikin Industries Ltd, Lennox International Inc, Hitachi Ltd, Panasonic Corporation, Electrolux AB, Mitsubishi Electric Corporation, MIDEA Group Co.

New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Air-Conditioning Equipment Global Market Report 2023" - https://www.reportlinker.com/p06282473/?utm_source=GNW Ltd, Samsung Electronics Co.Ltd, Sharp Corporation, and Ingersoll-Rand.The global air-conditioning equipment market will grow from $222.27 billion in 2022 to $231.53 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The air-conditioning equipment market is expected to grow to $281.59 billion in 2027 at a CAGR of 5.0%.The air-conditioning equipment market consists of sales of window air conditioners, portable air conditioners, wall hung split or multi head split air conditioners, ducted air conditioning.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The air-conditioning equipment refers to a device used to create and maintain fixed temperature, relative humidity, and air purity conditions in indoor spaces.The Asia Pacific was the largest region in the air-conditioning equipment market in 2022.North America was the second largest region in the air-conditioning equipment market.The regions covered in the air-conditioning equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The main product types of air- conditioning equipment are unitary air conditioners, room air conditioners, packaged terminal air conditioners, chillers, and absorption liquid chillers.A chiller refers to a device that controls the temperature by circulating a liquid like water or heat medium as a cooling liquid whose temperature was adjusted by the refrigerant cycle.The components are refrigerant, compressor, condenser coil, expansion valve, and evaporator coil. The various applications involved are residential and commercial.Increasing urbanization and industrialization are projected to boost the demand for air-conditioning equipment during the forecast period.The surge in urban population and the growing number of industrial activities are expected to generate a high requirement for HVAC equipment including air-conditioning equipment.According to the publication by Our World In Data, people living in urban areas worldwide are projected to reach about 7 billion people by the end of 2050.Moreover, according to United Nations-Habitat’s World Cities Report 2022, the urbanization in is predicted to grow to 675 million in 2035, which is the 2nd highest behind China’s 1 billion urban population.Therefore, rapid urbanization is driving the growth of the air-conditioning equipment market.The high cost of air-conditioning installation and replacement limits air-conditioning equipment’s market growth over the forecast period.Air-conditioner installments include installation of an electric conduit from the disconnect to the air conditioner, indoor evaporator coil, outside electric disconnect, outdoor pad, PVC pipe a drain line, and new copper line set from the indoor coil to the air conditioner.The cost of installation depends on the complexity of the electrical modifications and ranges from $100 -$600.The cost of replacement for an air conditioner in a residential building may range from $4,400 to $13,000.The price of entry-level or single-stage air conditioner ranges from $4,400 - $8,000, mid-range or two-stage air conditioner from $6,200 - $9,500, and high-end or variable speed air conditioner ranges from $8,200 - $13,000. Thus, the high cost of air-conditioning installation and replacement is likely to have a negative impact on the growth of the market.The countries covered in the air-conditioning equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.The air-conditioning equipment market research report is one of a series of new reports that provides air-conditioning equipment market statistics, including air-conditioning equipment industry global market size, regional shares, competitors with an air-conditioning equipment market share, detailed air-conditioning equipment market segments, market trends and opportunities, and any further data you may need to thrive in the air-conditioning equipment industry. This air-conditioning equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06282473/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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