Global Air-Conditioning Equipment Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The air-conditioning equipment market consists of sales of air-conditioning equipment by entities (organizations, sole traders, and partnerships) that produce air-conditioning equipment which is used to create and maintain fixed temperature, relative humidity, and air purity conditions in indoor spaces. The air-conditioning equipment market is segmented into compressors and condensers. Only goods and services traded between entities or sold to end consumers are included.

Global Air-Conditioning Equipment Market Size And Drivers:

The global air-conditioning equipment market is expected to grow from $179.64 billion in 2020 to $186.24 billion in 2021 at a compound annual growth rate (CAGR) of 3.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $247.54 billion in 2025 at a CAGR of 7.4%. Increasing urbanization and industrialization is projected to boost the demand for air-conditioning equipment during the forecast period.

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Trends In The Global Air-Conditioning Equipment Market

The high cost of air-conditioning installation and replacement limits air-conditioning equipment’s market growth over the forecast period. Air-conditioner installments include installation of an electric conduit from the disconnect to the air conditioner, indoor evaporator coil, outside electric disconnect, outdoor pad, PVC pipe a drain line, and new copper line set from the indoor coil to the air conditioner. The cost of installation depends on the complexity of the electrical modifications and ranges from $100 -$600. The cost of replacement for an air conditioner in a residential building may range from $4,400 to $13,000. The price of entry-level or single-stage air conditioner ranges from $4,400 - $8,000, mid-range or two-stage air conditioner from $6,200 - $9,500, and high-end or variable speed air conditioner ranges from $8,200 - $13,000. Thus, the high cost of air-conditioning installation and replacement is likely to have a negative impact on the growth of the market.

Global Air-Conditioning Equipment Market Segments:
The global air-conditioning equipment market is further segmented –
By Product Type: Unitary Air Conditioners, Room Air Conditioners, Packaged Terminal Air Conditioners, Chillers, Absorption Liquid Chillers
By Components: Refrigerant, Compressor, Condenser Coil, Expansion Valve, Evaporator Coil
By Application: Residential, Commercial
By Geography: The global air-conditioning equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Air-Conditioning Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides air-conditioning equipment market overviews, analyzes and forecasts market size and growth for the global air-conditioning equipment market, air-conditioning equipment market share, air-conditioning equipment market players, air-conditioning equipment market segments and geographies, air-conditioning equipment market’s leading competitors’ revenues, profiles and market shares. The air-conditioning equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches