Air Conditioning Systems: A Global Strategic Business Report
San Jose, California (PRWEB) March 04, 2015
Follow us on LinkedIn – Energy consumed for heating and cooling is rapidly rising worldwide. Air conditioning systems in residential, commercial, and industrial sectors worldwide consume over 1 trillion kilowatt-hours of energy. A key fallout of the global climate change phenomenon is the rise in cooling needs. As a result of the depletion of the ozone layer and the El Nino effect, global average surface temperature is rising gradually, resulting in higher spring and summer temperatures. As countries and communities gear up to cool a warming planet, demand for air conditioning systems is poised to grow strongly in the coming years.
The use of air conditioning systems in the residential sector is reflective of an economy’s health in a given country or region. This is primarily because an increase in per capita income pushes up consumer demand for comfort living. Demographic and socio-economic factors driving growth in the market include expanding population, rising income and discretionary spending power, urbanization and demand for well-furnished and provisioned houses. Growing awareness over the importance of indoor air quality is also generating increased demand for air conditioning systems. Demand for room air conditioners will be driven by the recovery in the construction and residential housing market. The market for packaged air conditioners, on the other hand, will benefit from the growing number of commercial building permits for the construction of malls, industrial facilities, and office spaces, among others. Growing concerns over the unsustainable rise in energy consumption and the ensuing impact on the environment will spur demand for energy efficient and green air conditioning systems.
Japanese manufacturers are gradually losing competitive advantage to their Korean and Chinese counterparts, primarily due to mistimed investments, and delayed entry into developing markets such as China and India. Increase in capital expenditure across diverse industrial sectors will boost adoption of packaged air conditioning systems, over the next few years. The market will be primarily led by energy efficient models, such as the energy star rated air conditioning systems. As stated by the new market research report on Air Conditioning Systems, Asia-Pacific represents the largest market worldwide, led by China, India and Korea. Key factors driving growth in the region include rapid industrialization, urbanization, technology advancements & falling prices of air conditioning technologies, and growth in the number of data centers, server farms and office buildings packed with heat generating electronic equipment.
Major players covered in the report include Carrier Corporation, Daikin Industries Ltd., Electrolux AB, GD Midea Holding Co. Ltd., General Electric Company, Gree Electric Appliances Inc., Hitachi Ltd., LG Electronics Inc., Mitsubishi Heavy Industries Ltd., Panasonic Corporation, Samsung Electronics Corp., Toshiba Group, Trane, and Whirlpool Corporation, among others.
The research report titled “Air Conditioning Systems: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for Air Conditioning Systems (in Thousand Units) for geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Turkey, and Rest of Europe), Asia-Pacific (Australia, China, India, Indonesia, Malaysia, Pakistan, South Korea, Taiwan, Thailand, and Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, Egypt, and Rest of Middle East & Africa) and Latin America (Argentina, Brazil, Mexico, and Rest of Latin America). Product segments analyzed include Room Air Conditioner and Packaged Air Conditioner.
For more details about this comprehensive market research report, please click here
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