International. The global air conditioner market is projected to cross $155 billion by 2022. Rising disposable income, changing weather conditions, the booming construction sector and technological innovations are driving air conditioning sales worldwide.
In addition, a significant portion of the growth in demand for air conditioners worldwide is anticipated to emanate from residential and commercial sectors. Moreover, Asia Pacific dominated this global market, followed by North America. Light commercial air conditioners dominated due to their increasing use in residential and commercial buildings.
The study called "Global Air Conditioners Market by Product Type, Region, Opportunities, and Competition Predictions, 2012-2022" addresses the following aspects of the market:
The residential and commercial sectors, along with rising disposable incomes, are raising the demand for air conditioners worldwide. Its increasing acceptance as a utility product rather than a luxury product is anticipated to drive the growth of this market during the forecast period. A significant portion of the demand for air conditioners is emanating from Asia-Pacific due to rapid infrastructure developments and increasing penetration. The development of major cities, increasing construction activities in the hospitality and tourism sectors, coupled with increasing investments by the governments of several countries, are anticipated to drive demand worldwide during the forecast period.
