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Air Condition Market Insights
According to MRFR analysis, the Global Air Condition Market is expected to register a CAGR of 8.20% from 2022 to 2030 and hold a value of over USD 179.3 billion by 2030.
The global air conditioning market refers to the industry that produces and sells air conditioning equipment and systems for residential, commercial, and industrial applications. This market includes various types of air conditioning systems such as window ACs, split ACs, central ACs, portable ACs, and others. The market is driven by factors such as increasing demand for air conditioning in hot and humid regions, rising urbanization and industrialization, growing construction activities, and advancements in technology.
The COVID-19 pandemic had a significant impact on the global Air Condition Market. The pandemic led to disruptions in the global supply chain, which impacted the production and distribution of air conditioning systems. The closure of factories and logistical challenges led to delays in the delivery of products and components.
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Regional Analysis
Asia-Pacific is the largest region of the global air conditioning market. The region accounts for a significant share of the global market, driven by factors such as rapid urbanization, rising temperatures, and increasing demand for air conditioning in residential, commercial, and industrial sectors.
China is the largest producer and consumer of air conditioning systems in the Asia-Pacific region, followed by Japan, India, and South Korea. The growing population and rising income levels in these countries have led to an increase in demand for air conditioning systems.
Market Segmentation
The Global Air Condition Market has been segmented into type and application.
Based on the type, the market has been segmented into split, rooftop, indoor packaged and chillers air conditioner.
Based on the application, the market has been segmented into commercial, residential, institutional and industrial.
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Key Players
Some of the key market players are:
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