International. The research firm Companies and Markets launched a recent study in which it estimates that the global market for air conditioning systems will grow at a CAGR of 18.5% until 2015.
Having witnessed a temporary disruption in growth, mainly due to the recent economic downturn, the global air conditioning systems market undertook a remarkable recovery in 2010 and is now projected to record 144.3 million units in sales volume in 2017.
The researchers explain that factors such as the need for energy-efficient air conditioners and Inverter technology contributed to the growth of the industry, based on the renewal of obsolete equipment.
The study also highlights that there has been a rapid increase in competition among air conditioning suppliers in recent years. This increase has led to a decrease in the total price of systems, leading to an increase in price wars between market players.
Asia-Pacific continues to be the most important regional market, thanks to the growth of countries such as China and India.
