Air Conditioning Systems Market: Energy Efficient Models to Be Greatest Competitive Tool

The global air conditioning systems market is estimated to grow at a CAGR of 10.5% between 2012 and 2018, reaching US$178.4 billion by the end of 2018, states a study by Transparency Market Research. The report, titled ‘Air Conditioning Systems Market - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2012 – 2018’, also finds that Asia Pacific dominates the global air conditioning systems market with a 34.4% share as of 2012, and will continue to remain in a dominant position over the next three years. In the APAC region, consumers with higher disposable income are seeking a comfortable lifestyle, and air conditioning is one of the means to achieve this end.

The report discusses the intricacies of the impact that energy efficiency initiatives will have on the global air conditioning systems market. Currently, air conditioners are regarded as appliances that consume massive amounts of energy. Manufacturers are thus innovating to change this perception – especially in the backdrop of environmental regulations. The market currently offers considerable scope for the development of energy-efficient air conditioning systems.

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North America trails the APAC region in terms of market share. Here, the dynamics of the market are slightly different in that demand stems chiefly from the need to replace or maintain older systems. Consumers installing new air conditioning systems prefer energy-efficient models or those with low emissions. Moreover, products that boast advanced features and new climate control/sensible cooling technologies are preferred. The report finds that there is an expanding market for air conditioning systems that work on solar power or other unconventional energy sources. The stringent energy and power-consumption regulations here are responsible for the change in consumer demand.

The growth of the air...