Air Conditioning Systems: A Global Strategic Business Report
San Jose, California (Vocus) June 15, 2010
While man’s desire to control the indoor environment led to the invention of air conditioning systems, growth in population, sturdy economic progress, industrialization, rising standards of living, affordability of technology and increase in commercial applications have led to its rapid proliferation across the globe. Hitherto a luxury proposition limited to wealthy and prosperous layer of the society, comfort conditioning is fast becoming a necessity in most of the nations. This metamorphosis has opened a completely new world of opportunities for the global air conditioning systems market. Global warming continues to remain a major factor propelling market demand, especially in the residential segment. Depletion of ozone layer, El Nino effect, and global warming, make up for the primary reasons that create the need for air conditioning systems.
Purchase and use of air conditioning systems in both residential and commercial applications often goes hand in hand with the health of economy in a given country or region. For instance, an increase in per capita income pushes up consumer demand for comfort living and eventually drives demand for high value products such as air conditioning systems, while conversely in periods of slowdown, demand recedes rapidly as consumers quickly axe their spending on high-priced products. Illustrative of this trend is the pal of gloom set over worldwide air conditioning systems markets against the backdrop of the recent economic recession. The economic recession and subsequent trends such as job uncertainty, cutbacks in employee salaries, and unemployment, has left many “comfort and luxury” product markets across the globe in a state of turmoil, and the air conditioning market, given the product’s status as a discretionary item, especially in developing countries, is no exception to this trend. However, hope in the form of Government driven focus on energy efficiency injects optimism among air conditioner manufacturers, as it promises to drive demand for energy efficient air conditioning systems such as inverter based air conditioners in the upcoming years.
Another major factor, which is expected to steer the market in the next few years is the rapidly growing replacement need, particularly in mature markets such as the US and Europe. Given the growing focus on energy conservation, the demand for replacing old air conditioning systems with new energy efficient models will be on the rise, thereby adding to market gains. Replacement demand is also generated by the consumers’ need to replace their existing air conditioning systems with quieter and more feature rich air conditioner models.
As stated by the new market research report on the global Air Conditioning Systems market, Asia-Pacific continues to be the largest regional market, having accounted for a share of about 49% in the total volume sales generated for the year 2009. Growth in Asia-Pacific is fuelled by factors such as rise in urban population, cushioned impact of the global recession on regional economies, favorable job market, and resulting high income levels, increased household gains and rising per capita incomes in countries such as China and India. By product, the room air conditioning systems market- has been the largest market segment for air conditioning systems, contributing a share of about 80% in the total volume for the year 2009. Low-cost feature and ease of installation & maintenance adds to the attraction of room air conditioners, driving its increased sales.
Key players in this marketplace include Airwell Group, Carrier Corporation, Daikin Industries, De’Longhi SpA, Electrolux AB, GD Midea Holding Co., Ltd, GE Appliances & Lighting, Goodman Manufacturing Company, L.P., Haier Group, Hisense Group, Hitachi, Lennox Industries Inc., LG Electronics Inc., Mitsubishi Electric, NORDYNE Inc., Panasonic Corporation, Rheem Manufacturing Company, Samsung Electronics Corp., Sanden Corporation, Sharp Corporation, Toshiba Carrier Corporation, Trane Inc., Whirlpool Corporation and York International Corporation among others.
The report titled “Air Conditioning Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends and growth drivers. The report in addition also enumerates product introductions, recent acquisitions, and other strategic industry activities. The report offers latent demand estimates and projections in volume sales (in ‘000 units) for the global air conditioning systems market by product segments, such as, Room Air Conditioning Systems and Packaged Air Conditioning Systems across geographic markets such as US, Canada, Japan, Europe, Asia-Pacific, Latin America, Middle East and Africa
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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