How big is the Air Conditioning Equipment Market?

The Air Conditioning Equipment Market size is expected to reach USD 119.36 billion in 2024 and grow at a CAGR of 5.32% to reach USD 154.65 billion by 2029. Read More

What is the current Air Conditioning Equipment Market size?

In 2024, the Air Conditioning Equipment Market size is expected to reach USD 119.36 billion. Read More

Who are the key players in Air Conditioning Equipment Market?

Daikin Industries, Ltd., Hitachi Ltd., Johnson Controls, Electrolux AB Corporation and Mitsubishi Electric Corporation are the major companies operating in the Air Conditioning Equipment Market. Read More

Which is the fastest growing region in Air Conditioning Equipment Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Air Conditioning Equipment Market?

In 2024, the North America accounts for the largest market share in Air Conditioning Equipment Market. Read More

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

In 2023, the Air Conditioning Equipment Market size was estimated at USD 113.01 billion. The report covers the Air Conditioning Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Air Conditioning Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Air Conditioning Equipment Market Size & Share Analysis - Industry Research Report

Air Conditioning Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Air Conditioning Equipment Market is Segmented by Type (Split System [Ducted and Ductless], Variable Refrigerant Flow, Air Handling Units, Chillers, Fan Coils, Indoor Packaged and Roof Tops, and Other Types), End-User Industry (Residential, Commercial, and Industrial), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Air Conditioning Equipment Industry Overview

The air conditioning equipment landscape is highly competitive, with several local and international players active. International participants operate in the country through partnerships with regional players. With the market expected to broaden and yield more opportunities, more players are expected to enter. The key players in the market studied include Mitsubishi Electric and Johnson Controls, among others. These major players have adopted various growth strategies, such as mergers and acquisitions, new product launches, expansions, joint ventures, partnerships, and others, to strengthen their position in this market.

March 2024: Mitsubishi Electric Trane HVAC US LLC (METUS) announced the introduction of Premier Wall-mounted Indoor Units (MSZ-GS/MSY-GS). At the same time, Premier MSZ-GS Indoor Units are compatible with single-zone and multi-zone heat pump outdoor units, including single- and multi-zone Hyper-Heating INVERTER (H2i) units. The MSY-GS is a single-zone, cooling-only air conditioner for climates with unnecessary heating.
February 2024: Daikin Industries Ltd enhanced its air conditioners by focusing on critical elements. This includes shifting to HFC-32, an R32 refrigerant with low global warming potential, emphasizing its eco-friendliness and energy efficiency. Additionally, Daikin has bolstered the fundamental performance of its air conditioning units. In a significant move, Daikin is set to launch the VRV 7 multi-air conditioner series for buildings in November 2024. This series boasts the industry's top energy efficiency and is pivotal in lessening environmental footprints and operational burdens.