Air conditioning market to heat up
THE global air conditioning systems market is set to recover from the recession to reach sales of 144,300,000 units by 2017. Growth will be lead by energy-efficient models, particularly inverter-based air conditioners, and the rapidly growing replacement demand, says the US-based Global Industry Analysts (GIA).
In fact, the global air conditioning systems market staged a remarkable recovery in 2010, with sharp increase in volume sales for both room ac systems and packaged ac systems. Growth over the next few years is expected to be led by inverter-based systems and solar powered air conditioners.
Another major factor, which is expected to steer the market in the next few years, is the rapidly growing replacement need, particularly in mature markets such as the US and Europe. Given the growing focus on energy conservation, the demand for replacing old air conditioning systems with new energy efficient models will be on the rise, thereby adding to market gains.
Robust growth is expected in China and India as Asia-Pacific continues to be the largest regional market.