AC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Air Conditioner Market Share by Brand and is Segmented by Product Type (Window, Split and Multi Split, Packaged Air Conditioner, Variable Refrigerant Flow (VRF), and Others (Chillers and Portables)), Distribution Channel (Multi-Brand Stores, Exclusive Stores, Online, and Other Distribution Channels), End User (Residential and Commercial), and Geography (North America, South America, Europe, Asia-Pacific, and Middle East and Africa). The Report PDF Provides the Market Share, Size and Forecasts in Terms of Value in USD Billion.

AC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Air Conditioner Market Size

Air Conditioner Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 201.78 Billion
Market Size (2029) USD 259.49 Billion
CAGR (2024 - 2029) 5.15 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Low

Major Players

Air Conditioner Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Global Air Conditioner Market with other markets in Home and Property Improvement Industry

Kitchen Appliances

Home Appliances

Laundry Appliances

Home Decor

Furniture and Furnishings

Floor Coverings

Air Conditioner Industry Analysis

The Global Air Conditioner Market size is estimated at USD 201.78 billion in 2024, and is expected to reach USD 259.49 billion by 2029, growing at a CAGR of 5.15% during the forecast period (2024-2029).

This industry analysis report indicates that the rising global temperatures and humidity levels and the growing recognition of air conditioners as a utility rather than luxury goods are predicted to drive significant growth in the air conditioning (AC) business. Driven by the introduction of sophisticated air conditioners, including models equipped with air purification systems and inverters, the AC market share is anticipating growth in the forecast period. 

The worldwide supply chain and market demand including the market share of air conditioners were affected by the COVID-19 outbreak. China plays a significant role in the air conditioner market. Still, it also exports a variety of input supplies, which are needed to make finished items, to a wide range of nations. Due to the closure of their operations in China, other American and European air conditioning manufacturers have been forced to stop producing final goods temporarily. As a result, the market's imbalance between supply and demand widened.  

The primary market growth factor driving the smart air conditioner market is the growing adoption of smart devices that can transform traditional remote-controlled air conditioners into smart devices. While packaged air conditioners are expected to expand at a moderate rate due to rising permit rates for the development of malls, offices, and industries, the demand for room air conditioners is being driven by improvements in housing standards. 

Air Conditioner Market Overview

The industry profile shows that the global market for air conditioners is highly competitive with many players competing around the world. The competitive landscape is characterized by both established multinational corporations and regional players, each striving to differentiate their products through innovation, energy efficiency, product features, and pricing strategies. The largest companies include Haier Group, Daikin Industries, LG Electronics, Samsung Electronics, and Panasonic Corporation. 

Air Conditioner Market Leaders

  1. Haier Group

  2. Daikin Industries

  3. LG Electronics

  4. Samsung Electronics

  5. Panasonic Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Screenshot 2023-11-03 114231.png
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Air Conditioner Market News

  • In February 2023, Godrej Appliances introduced the first leak-proof split air conditioner in India, exhibiting a creative use of anti-leak technology. This deliberate use of anti-leak technology highlights the business's dedication to improving user experience and creating an unmatched value offer in the air conditioning industry.
  • In January 2022, LG Electronics USA launched a broad range of ventilation, heating, and air conditioning solutions for use in light commercial, residential, and industrial applications at the 2022 AHR show in Las Vegas.

Air Conditioner (AC) Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS AND INSIGHTS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rising Temperatures and Climate Change
    • 4.2.2 Technological Innovations such as Inverter Technology, Smart and Connected Features
  • 4.3 Market Restraints
    • 4.3.1 High Energy Consumption
    • 4.3.2 High Initial and Maintenance Costs
  • 4.4 Market Opportunities
    • 4.4.1 Demand for Energy-Efficient Air Conditioning Systems
    • 4.4.2 Integration of Air Conditioning Systems with loT
  • 4.5 Value Chain Analysis
  • 4.6 Industry Attractiveness: Porter's Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitutes
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Insights into Technological Advancements in the Industry
  • 4.8 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Type
    • 5.1.1 Window AC
    • 5.1.2 Split and Multi-Split AC
    • 5.1.3 Packaged AC
    • 5.1.4 Variable Refrigerant Flow (VRF)
    • 5.1.5 Central AC
    • 5.1.6 Others
  • 5.2 By Technology
    • 5.2.1 Inverter
    • 5.2.2 Non-Inverter
  • 5.3 By End-User
    • 5.3.1 Residential
    • 5.3.2 Commercial
  • 5.4 By Distribution Channel
    • 5.4.1 Multi-Brand stores
    • 5.4.2 Exclusive Stores
    • 5.4.3 Online Stores
  • 5.5 By Geography
    • 5.5.1 North America
    • 5.5.1.1 United States
    • 5.5.1.2 Canada
    • 5.5.1.3 Mexico
    • 5.5.1.4 Rest of North America
    • 5.5.2 Europe
    • 5.5.2.1 United Kingdom
    • 5.5.2.2 Germany
    • 5.5.2.3 France
    • 5.5.2.4 Russia
    • 5.5.2.5 Italy
    • 5.5.2.6 Spain
    • 5.5.2.7 Rest of Europe
    • 5.5.3 Asia-Pacific
    • 5.5.3.1 India
    • 5.5.3.2 China
    • 5.5.3.3 Japan
    • 5.5.3.4 Australia
    • 5.5.3.5 Rest of Asia-Pacific
    • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
    • 5.5.5 Middle-East and Africa
    • 5.5.5.1 United Arab Emirates
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 Haier Group
    • 6.2.2 Daikin Industries
    • 6.2.3 LG Electronics
    • 6.2.4 Samsung Electronics
    • 6.2.5 Panasonic Corporation
    • 6.2.6 Mitsubishi Electric Corporation
    • 6.2.7 Carrier
    • 6.2.8 Hitachi Ltd.
    • 6.2.9 Whirlpool Corporation
    • 6.2.10 Toshiba Corporation*
  • *List Not Exhaustive

7. MARKET OPPORTUNTIES AND FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

**Subject to Availability
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Air Conditioner Industry Segmentation

An air conditioning unit is a device or system designed for the purpose of regulating temperature, humidity, and air quality in an open area, usually such as a room or building. It is capable of cooling the indoor air to a comfortable level by removing the heat from the air in the room and transferring it outside. As detailed in the report PDF, the air conditioner market is segmented by type, technology, end-user, distribution channel, and geography. By type, the market is segmented into window AC, split and multi-split AC, packaged air conditioners, variable refrigerant flow (VRF), central AC, and others (chillers and portables). By technology, the market is segmented into inverter and non-inverter. By end user, the market is segmented into residential and commercial. By distribution channel, the market is segmented into multi-brand stores, exclusive stores, and online stores. By geography, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa, where price trend within each segment was analyzed to help businesses to adapt to changing market conditions. The market size and forecasts for the air conditioner market in value (USD) for all the above segments, including analysis of the target market, are offered in the report PDF

By Type Window AC
Split and Multi-Split AC
Packaged AC
Variable Refrigerant Flow (VRF)
Central AC
Others
By Technology Inverter
Non-Inverter
By End-User Residential
Commercial
By Distribution Channel Multi-Brand stores
Exclusive Stores
Online Stores
By Geography North America United States
Canada
Mexico
Rest of North America
By Geography Europe United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
By Geography Asia-Pacific India
China
Japan
Australia
Rest of Asia-Pacific
By Geography South America Brazil
Argentina
Rest of South America
By Geography Middle-East and Africa United Arab Emirates
South Africa
Rest of Middle-East and Africa
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Air Conditioner (AC) Market Research FAQs

How big is the Global Air Conditioner Market?

The Global Air Conditioner Market size is expected to reach USD 201.78 billion in 2024 and grow at a CAGR of 5.15% to reach USD 259.49 billion by 2029.

What is the current Global Air Conditioner Market size?

In 2024, the Global Air Conditioner Market size is expected to reach USD 201.78 billion.

Who are the key players in Global Air Conditioner Market?

Haier Group, Daikin Industries, LG Electronics, Samsung Electronics and Panasonic Corporation are the major companies operating in the Global Air Conditioner Market.

Which is the fastest growing region in Global Air Conditioner Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

Which region has the biggest share in Global Air Conditioner Market?

In 2024, the Asia Pacific accounts for the largest market share in Global Air Conditioner Market.

What years does this Global Air Conditioner Market cover, and what was the market size in 2023?

In 2023, the Global Air Conditioner Market size was estimated at USD 191.39 billion. The report covers the Global Air Conditioner Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Air Conditioner Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

What are the different segments of the Air Conditioner Market?

The Air Conditioner Market is segmented by a) Product Type: Window, Split and Multi Split, Packaged Air Conditioner, Variable Refrigerant Flow (VRF) b) Distribution Channel: Multi-Brand Stores, Exclusive Stores, Online, And Other Distribution Channels c) End User: Residential and Commercial

Air Conditioner Industry Report

The global air conditioning systems market is witnessing robust growth, propelled by technological advancements, changing climate patterns, and increasing consumer demand for comfort in the AC industry. This surge is primarily due to rising temperatures from climate change, positioning air conditioning from a luxury to a necessity in residential and commercial spaces. The shift towards energy-efficient and environmentally friendly solutions, emphasizing inverter technology and smart connectivity, is enhancing user experience and operational efficiency. Dominated by Asia-Pacific, particularly China and India, due to rapid urbanization and economic development, the air conditioner market also sees significant contributions from North America and Europe, spurred by replacement sales and energy efficiency initiatives. This highly competitive market sees air conditioning companies focusing on technological innovations and strategic partnerships to cater to evolving consumer needs. For detailed market share, size, and industry revenue growth rate, Mordor Intelligence™ Industry Reports offer a comprehensive industry analysis, market forecast outlook, and industry statistics available as a free report PDF download for a deeper insight into the air conditioner analysis. For a comprehensive analysis of the air conditioner market trend, overall market cap, sales data, market segmentation and the target market, stakeholders can access detailed reports available in profile PDF format, providing in-depth insights and analysis.