LONDON--(BUSINESS WIRE)--Technavio has been monitoring the air conditioning market and it is poised to grow by $ 23.93 billion during 2020-2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the air conditioning market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Product innovation leading to portfolio extension and product premiumization is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 3% and the incremental growth of the market is anticipated to be $ 23.93 billion.
Who are the top players in the market?
AB Electrolux, Daikin Industries Ltd., Johnson Controls International Plc, LG Electronics Inc., Panasonic Corp., Qingdao Haier Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba International Corp., and Whirlpool Corp., are some of the major market participants.
What is the key market driver?
The rise in residential construction activity is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute to 70% of the market share.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB Electrolux, Daikin Industries Ltd., Johnson Controls International Plc, LG Electronics Inc., Panasonic Corp., Qingdao Haier Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba International Corp., and Whirlpool Corp. are some of the major market participants. The rise in residential construction activity will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this air conditioning market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Air Conditioning Market 2020-2024: Segmentation
Air Conditioning Market is segmented as below:
- North America
- South America
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Air Conditioning Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The air conditioning market report covers the following areas:
- Air Conditioning Market Size
- Air Conditioning Market Trends
- Air Conditioning Market Industry Analysis
This study identifies product innovation leading to portfolio extension and product premiumization as one of the prime reasons driving the air conditioning market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Air Conditioning Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist air conditioning market growth during the next five years
- Estimation of the air conditioning market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the air conditioning market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of air conditioning market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by product
- Splits - Market size and forecast 2019-2024
- Chillers - Market size and forecast 2019-2024
- Airside - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by product
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- AB Electrolux
- Daikin Industries Ltd.
- Johnson Controls International Plc
- LG Electronics Inc.
- Panasonic Corp.
- Qingdao Haier Co. Ltd.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Toshiba International Corp.
- Whirlpool Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.