Central Air Conditioning Market: Growth, Trends by 2024

The global central air conditioning market size stood at USD 32.94 billion in 2019 and is projected to reach USD 58.79 billion by 2032, exhibiting a CAGR of 4.2% during the forecast period.

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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

Top Companies of central air conditioning market:

• 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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Central Air Conditioning Market Drivers and restrains:

• 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.

Reasons to buy this report:

This report provides a detailed analysis of the current market status, trends, growth segments, and competitive dynamics in the central air conditioning market. It enables businesses to identify opportunities for growth and development while also highlighting potential challenges and risks. By evaluating business segments and product portfolios, the report enables stakeholders to make more informed market strategies and investments.

A thorough understanding of the industry dynamics outlined in the report can significantly improve decision-making and facilitate the development of effective success strategies in the central air conditioning market. Overall, this report is an excellent resource for those seeking in-depth information about this rapidly changing industry.

Regional Atributes:

• 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…!

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

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