Global air conditioning market size, share, market intelligence, company profiles, market trends, growth, strategy, research and analysis report by application (residential, commercial, industrial, healthcare and automotive) AC by duct type (ducted and ductless) forecast 2018-2023
Air conditioning is a process of removing heat and moisture from a space, by cooling the area. The utilization of the air conditioning has increased in the developing countries due to increase in the high disposable income of individual and lifestyle changes. ACs are utilized in different sectors such as domestic sectors, commercial sectors & industrial sectors. The increased demand for ACs has been observed in all the sectors. Government regulations on refrigerants are forcing the manufacturers to develop energy efficient and eco-friendly products. There have been many technological developments has been observed in the market due to phasing out of key refrigerants. Once the most preferred refrigerants CFCs will be completely replaced by other refrigerants in next few years. Similarly, HCFCs, also phasing out and completely replaced by HFCs and other refrigerants in near future. Manufacturers are moving towards eco-friendlier alternatives such as HFOs and natural refrigerants. New product such as power efficient and inverter ACs are driving the global market. The growth of automobile sector is also influencing the global air conditioning market.