Emerging countries is witnessing a sharp 10% growth
Post millennium year there was a talk that the air-conditioning (A/C) industry around the globe is coming to a rest as sales were estimated to go down and the trends looked extremely grave for the manufacturing companies. However, the growing economies came up as saviors for the sector as developing countries increased their demands for cooling solutions. This trend happened mainly due to the fast growing real estate industries in these regions.
Growth in both residential and commercial real values bought in an upward curve for the air conditioning sector. Major A/C manufacturing companies have started concentrating in emerging countries where the infrastructure is finally got a kick.
The growing interest in air-conditioning products among the middle class (middle-income groups) population around the world is a big encouraging factor. Going by the improving lifestyles and the increase in demands for cooling solutions in both domestic and industrial usage is sure to accelerate the expansion of the air-conditioning industry. All kinds of air-conditioners like portable, spilt, single packaged, chillers and window units are in demand as per the requirements of the customers. All companies are keeping all these types of cooling systems in production through some are produced in limited numbers as per their limited demands.
Segmentations of the Air-Conditioning Industry:
The industry runs in a 3way category which is residential, commercial and industrial. The commercial segment has many sub-segments like hotels, construction and tourism, travel air-conditioning etc. out of these categories the residential niche is noted to be the largest growing category with a CAGR of 10.7% for the years from 2012 to 2018. The spilt air-conditioning variant is witnessed to be the largest in use type of air-conditioning unit as it is present in maximum locations irrespective of commercial or domestic usage.
Global Markets-What are the Market Research Results?
Talking about the global markets, the air-conditioning industry is segmented into four geographic sectors which are North America, Europe, Asia-Pacific and ROW (Rest of World). Demand wise-the Asian region was the largest part of the globe which had a strong demand for air-conditioners by the year 2012. It held around 35% of the global market demand which is expected to grow even more in the next few years. The Indian transportation air-conditioning markets is a massive potential industry for the air-condition manufacturers as all the modes are planning to go chilled in the upcoming years.
Energy Consumption and Environment Friendly Products:
Though the growth of global air-conditioning industry is taken for granted in the developed countries, its business in the emerging nations is its real savior. Moreover, the demand for more environment friendly units have crept up in the past few years as the awareness with regards to environment has risen up. Similarly, the energy saving models are the buzz in the current industry as the inverter type air-conditioning units are high in demand as they cut-down energy consumption by 30%. The heat pump heaters are also in solid demand as they reduce the CO2 emission by a good 60% as compared to the fossil burning heaters which use oil and gas.