Technavio’s latest research report on the global air conditioning market provides an analysis on the most important trends expected to impact the market outlook from 2016 to 2020.
The global split air conditioning market is expected to exceed 104 billion tons by 2020, increasing at a compound annual growth rate (CAGR) of over 6 percent during the forecast period, according to the latest market research study released by Technavio.
In 2013, the world air conditioning market was valued at $91.6 billion, having grown more than 6 percent compared with $86.8 billion in 2012 — evidence that the global a/c market is finally out of the woods.
The North America air conditioning systems market is forecast to reach $52.56 billion by 2020, according to a new study by Grand View Research Inc. Increasing construction spending is expected to drive the market across the residential, commercial, and industrial sectors.
Mitsubishi Electric Corp. announced that it has begun producing the indoor units of commercial air conditioners for the North American market at Mitsubishi Electric US Inc.’s wholly owned subsidiary company, PIMS, S.A. de C.V., located in Baja California, Mexico.
Cooltech Applications announced that it has successfully raised €8 million to enable the final industrialization stage of its magnetic refrigeration technology, which is expected to achieve international commercialization by the end of this year.
According to a new report published by Transparency Market Research, the global air conditioning systems’ market was worth $98.2 billion in 2012 and is expected to reach $178.4 billion in 2018.
Research firm Companies and Markets has released a study that estimates the global air conditioning market will grow at a compound annual growth rate of 18.5 percent through 2015.
The global air conditioning market is forecast to grow at a compound annual growth rate (CAGR) of 18.5 percent over the period of 2011 to 2015, according to a report from Companies & Markets.