Air conditioning system market to reach USD 211,259.4 million by 2026

The global air conditioning system market is expected to reach USD 211,259.4 million by 2026, expanding at a CAGR of 4.6 percent from 2018 to 2026, according to Transparency Market Research. In terms of volume, the market is expected to reach 190,703,000 units by 2026, expanding at a CAGR of 3.6 percent from 2018 to 2026.

The air conditioning system market in Asia-Pacific is the largest in the world and is expected to grow at a healthy rate over the forecast period. Split air conditioners dominate the Asia-Pacific air conditioning system market compared to window air conditioners.

In the Asia-Pacific region, compared to other types of air conditioners, such as PAC (packaged air conditioners) and VRF (variable refrigerated flow) systems, room air conditioners (RAC) dominate the market. China is the largest market for air conditioner systems in the world. In China, room air conditioners dominate the market. Japan and India are other important air conditioning markets for global air conditioning manufacturers.

The air conditioning system market in North America holds the second-largest share in the global air conditioning system market, and is expected to grow moderately over the forecast period. North America is a developed region. Window air conditioners dominate the North America air conditioner market compared to split air conditioners. In North America, room air conditioners hold a larger market share than packaged air conditioners. The U.S. is the largest air conditioner market in North America. Canada is another important air conditioner market in North America. Rise in residential construction both in the U.S. and Canada is increasing the demand for room air conditioners (RACs) in the region.

In Europe, room air conditioners hold a major share of the market. Rising residential construction activity, especially in Eastern Europe, is increasing the demand for air conditioners. Russia is the largest air conditioner market in Europe. Other major air conditioner markets in the region are Italy, Spain, France, and the U.K. Rising demand for high-priced VRF (variable refrigerant flow) air conditioners is driving the Europe air conditioning system market.

Middle East & Africa (MEA) air conditioning system market is the fourth largest in the world. GCC and Nigeria are major markets in the MEA air conditioning system market.

South America air conditioning system market is the smallest in the world. Brazil is the largest and most significant air conditioning system market in South America and the market is expected to grow moderately over the forecast period.

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