Central Air Conditioning Market: Trends and Growth

The “Central Air Conditioning Market Research Report Overview by 2024” market size is reached USD 32.94 billion by 2019 and it is projected to reach USD 58.79 billion by 2032 between the forecast period and expected Compound annual growth rate of 4.2% between the forcast period by (2019-2032).

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Central Air Conditioning Market Share, Size & COVID-19 Impact Analysis, By Type (Split System, Packaged Unit, and Rooftop System), By Application (Residential and Commercial) and Regional Forecast Between, 2020-2027

Major Keyplayers of central air conditioning market:

Some of the key players operating in the global central air conditioning Industry are:

• DAIKIN INDUSTRIES, Ltd.
• Lennox International Inc.
• Carrier
• Blue Star Limited.
• Haier Inc.
• Mitsubishi Electric Corporation
• FUJITSU GENERAL
• Nortek Global HVAC
• Trane
• LG Electronics

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Key industry developments of central air conditioning market:

• Carrier introduced a new WeatherMaker Rooftop unit using i-Vu controls for protecting the historic theatres. This product is manufactured for renovating the historic 1928 Sandusky State Theatre by maintaining the indoor temperature
• Daikin initiated the manufacturing facility of its new air conditioner series in India, aiming for strong sales target. The company planned on manufacturing 15 lakh residential air conditioners, 50,000 VRV units, 20,000 ductable units and 1,000 chillers respectively

Drivers and restraints of central air conditioning market:

• Drivers:
  • Rising Temperatures: Increasing global temperatures and heatwaves drive the demand for efficient central air conditioning systems to maintain indoor comfort.
  • Growing Urbanization: The expansion of urban areas and construction of new residential and commercial buildings increase the need for central air conditioning systems.
  • Technological Advancements: Innovations such as energy-efficient systems, smart thermostats, and advanced cooling technologies enhance the appeal and efficiency of central air conditioning units.
  • Focus on Indoor Air Quality: Growing awareness of indoor air quality and comfort drives the adoption of central air conditioning systems with advanced air filtration and purification features.
  • Government Incentives: Government rebates, tax incentives, and regulations promoting energy efficiency encourage the installation of modern, energy-efficient central air conditioning systems.
• Restraints:
  • High Initial Cost: The significant upfront investment required for purchasing and installing central air conditioning systems can be a barrier for some consumers.
  • Maintenance and Operating Costs: Ongoing maintenance, repair, and energy costs associated with central air conditioning systems can impact the overall cost of ownership.
  • Complex Installation: Installing central air conditioning systems can be complex and disruptive, particularly in existing buildings, requiring professional expertise.
  • Environmental Impact: Concerns about the environmental impact of refrigerants and energy consumption associated with central air conditioning systems can affect market growth.
  • Technological Obsolescence: Rapid advancements in air conditioning technology may lead to obsolescence of existing systems, necessitating frequent upgrades or replacements.

Regional Insights:

• North America (the U.S. and Canada)
• Europe (U.K., Germany, France, Italy, and the Rest of Europe)
• Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
• Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
• Latin America (Brazil, Mexico, and the Rest of Latin America)

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

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