Global demand for air-conditioning to increase
New market research report estimates a 8.61% growth in the global air-conditioning market
A new market research report produced by Market and Research predicts good growth for the air-conditioning industry between 2017 and 2021.
The report, titled ‘Global Air Conditioning Market 2017-2021’, was produced by the leading market research store with input from important figures from the air-conditioning industry and a professional analysis of the air-conditioning market on a global scale.
According to the report’s authors, the key players in the global sector are:, in in alphabetical order. Daikin, GREE Electric Appliances, Midea, Mitsubishi Electric, Panasonic, and Toshiba Carrier.
The report predicts a compound annual growth rate (CAGR) of 8.61% between 2017 and 2021. This growth will be propelled by a number of factors.
One of the researchers involved in the market report claims the increasing demand for integrated systems will be one of the factors pushing the growth. Integrated HVAC, access, security, and lighting systems offer “higher energy efficiency in managing building systems as it allows control from one interface”, said the researcher.
Such systems are already being used increasingly in office buildings and installation is expected to increase in retail property, hotels, schools, and hospitals.
Additionally, increasing demand for inverter air-conditioners and the continuing economical growth in developing countries will both be market drivers in the coming years. Many of these developing economies are situated in the tropics and subtropics and demand for air-conditioning will be significant.
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