International. According to a 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.
The report called "Air Conditioning Systems Market, Global Scenario, Trends Industry Analysis, Size, Exchange and Forecasts", shows that Asia-Pacific accounts for the largest share of the market at 34.4%, followed by North America.
Asia-Pacific would maintain that position for the next five years, due to rising consumer disposable income, awareness, and a growing trend toward comfortable living.
The report notes that the factors supporting the global growth of the air conditioning systems market include replacement needs in developed regions such as North America and Europe, increasing awareness of energy-efficient and environmentally friendly products, and growing demand for technologically advanced air conditioning with sensitive cooling.
The report also indicates that inverter and solar air conditioners should have significant growth in the near future due to their energy-efficient characteristics.
In addition, improvements in housing design, construction and an increase in the number of building permits, particularly for commercial infrastructures, are helping the growth of this market.
