The global Air Conditioning market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. To support advanced technologies that can further improve the efficiency of AC systems, the government of Japan is establishing regulations and legislation for AC manufacturers. In 2013, the International Energy Agency (IEA) set a goal to achieve the global building energy-efficiency goals. The IEA aims to achieve AC efficiency up to 20-40% by 2030 and 30–50 % by 2050. The AC industry has improved the energy efficiency of AC systems through a combination of technological innovation and market transformation strategies such as product lunch. Further, there are advancements in low-GWP refrigerants that will reduce the global warming caused by refrigerants used in AC. The increasing use of low-GWP refrigerants by AC manufacturers is expected to contribute to the growth of the market.
Browse the full report description Global Air Conditioning Market by Application (Residential, Commercial, Industrial, and Others), By Type (Split & Window AC, Rooftop, Indoor Packaged ACs, VRF, Chiller, and Others), By Refrigerant Type (HCFC, HFC, HFO, and Natural Refrigerant), and Forecast 2020-2027 at https://www.omrglobal.com/industry-reports/air-conditioning-market
Solar panels are so efficient that they have been classified as having zero global warming. Solar energy is beneficial not only for the environment, however, is also cost-effective. In addition, due to higher demand, the technology is improved periodically. Unlike other energy sources, solar energy is abundant, which also contributes to cost-efficiency in the long run. Due to this reason, the solar panel becomes one of the best choices to be used as a source of energy to run the AC system. Moreover, solar panels utilize solar energy without causing global warming. Like other energy sources such as thermal energy, solar energy do not emit greenhouse gases such as carbon dioxide (CO2), which is also a major factor that is enticing countries to adopt solar energy. Solar panels can drastically reduce electricity bills. Japan is one of the largest manufacturers of photovoltaic cells. After the nuclear power disaster in Fukushima, Japan in 2011, the Japanese Government is keen to expand its renewable energy output including solar energy. The government has proposed a plan to produce 28 GW of solar PV capacity by 2020 and 53 GW of solar PV capacity by 2030. These factors propel the manufacturers to use solar-powered AC. With increasing power cuts and decreasing prices of solar panels, people are showing interest in adopting solar technologies. Many manufacturers guaranteed 80% performance of the solar panel even after 25 years. Solar cooling systems for the past few years are gaining popularity owing to the reduction in the cost of solar panels.
Market Coverage
Segment Covered-
Regions Covered-
Competitive Landscape- Blue Star Ltd., Daikin Industries, Ltd., Haier Electronics Group Co., Ltd., Hitachi, Ltd., LG Electronics., and Voltas Ltd. among others.
Key questions addressed by the report
oDeviation from the pre-COVID-19 forecast
oMost affected region and segment
Global Air Conditioning Market Report Segment
By Application
By Type
By Refrigerant Type
Global Air Conditioning Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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