Portable cooling systems to boost growth of air conditioning market

Global Industry Analysis, Trends, Market Size and Forecasts to 2024. The global air conditioning systems market is projected to grow at a CAGR of 5.5 percent over the forecast period of 2018-2024.

Infinium Global Research has recently published a global report on “Air Conditioning Systems Market (Type – Portable Air Conditioning Systems, Central Air Conditioning System, Split Air Conditioning Systems, Packaged Air Conditioning Systems, Chillers, and Others; End Use – Residential, Commercial, Industrial, and Automotive):

Adopting green technologies to promote growth
Improvement in housing standards is the factor driving the growth of the air conditioning systems market. Additionally, regulatory norms of electrical appliances have necessitated the production of energy-efficient systems and migration from traditional equipment this, in turn, is fuelling the demand for air conditioners systems market over the forecast period. On the other hand, split air conditioners offer plenty of benefits including less noise, low initial cost, and ease of installation. However, individuals using portable systems for trips and other outdoor activities are expected to fuel the growth of air conditioning systems during the forecast period.

Trend of green technology and smart homes
Furthermore, manufacturers within the global air conditioning are adopting green technologies and advanced technologies that are making air conditioners systems energy efficient. This, in turn, is providing several opportunities for the key players in the global air conditioning systems market. Moreover, the trend of green technology and smart homes are expected to create several growth opportunities for the global air conditioning systems.

Asia pacific region to contribute to growth in the market
The Asia Pacific is dominating the global air conditioners systems market. The demand for air conditioners in the Asia Pacific is likely driven by India, China, and Japan.Infinium Global Research quoted that a rising number of the automobile is contributing to the growth of the air conditioning market in Asia Pacific regions.

Europe is anticipated to witness a moderate growth owing to the growing awareness about energyefficient air conditioning systems in building automation, and control has driven its demand in the European regions. On the other hand, the changing standards of American society, ongoing technological evolution, and the presence of several regulatory policies have been accelerating the demand for energyefficient, technologically advanced, and eco-friendly air conditioning systems in North America.