Albany, NY (PRWEB) October 18, 2013
According to a new market report published by Transparency Market Research, "Air Conditioning Systems Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012 - 2018," the global air conditioning systems market was worth USD 98.2 billion and is expected to reach USD 178.4 billion in 2018, growing at a CAGR of 10.5% from 2012 to 2018. Asia-Pacific accounted for the highest market share (34.4%) in 2012, followed by North America. Asia-Pacific is expected to maintain its leading position for the next five years owing to the increasing disposable incomes of consumers, rising awareness and an increasing trend towards living a comfortable life.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/air-conditioning-systems-market.html.
Some of the factors supporting growth of the air conditioning systems market worldwide include replacement need in developed regions such as North America and Europe, growing awareness about energy efficient and eco-friendly products, and increasing demand for technologically advanced air conditioning with sensible cooling. Inverter-based and solar-based air conditioning systems are expected to witness significant growth in the near future due to their energy efficient features, which help meet stringent energy regulations.
In addition, improvements in housing construction design and rise in number of building permits, particularly for commercial infrastructures, is aiding the growth of the air conditioning systems market. Increase in the total spending across different industry verticals is expected to support the acceptance of packaged air conditioning systems and drive the demand in the coming few years. Industry verticals such as manufacturing sector and small to medium enterprises are potential end users for packaged air conditioning systems.
Related Report : Air Fresheners Market
Changing weather conditions, development in air conditioning technology, rising disposable income of the consumers in the developing regions like Asia Pacific, demand for energy efficient models and replacement need in the developed regions such as North America and Europe are driving the air conditioning systems market worldwide. This report provides complete insights of the air conditioning systems and the factors responsible for driving this market. This includes market trends, price trends, growth patterns, and market estimates by revenue and volume. The competitive scenario among the existing players and their growth strategies have also been discussed in this report. For the purpose of the research, the global air conditioning systems market has been segmented based on equipment type, application and geography. The different types of air conditioning systems covered under equipment type are portable, windows, splits, single packaged, chillers and airside.
A cross sectional analysis of the different air conditioning equipment market based on the geographic segments is also provided in the report. Splits air conditioning systems is the largest market at present and will maintain its leading position in the next five years. The application segment has been categorized into: residential, commercial and industrial. The commercial sector is further segregated into construction, tourism and hotel industry, tents and others. In the application segment residential sector is expected to grow at a CAGR of 10.7% from 2012 to 2018. Apart from revenue, volume, market trend, and price trend of the air conditioning systems by equipment types and geography, have also been analyzed in this report.