International. Amid the Covid-19 crisis, the global air conditioning systems market, estimated at 118.1 million units in the year 2022, is projected to reach a revised size of 148.7 million units by 2026, growing at a CAGR of 5.6% during the analysis period, according to a study by Global Industry Analysts Inc.
The global market for the room air conditioners segment is estimated at 104 million units in 2022 and is projected to reach 132.4 million units by 2026, reflecting a compound annual growth rate of 5.9% during the analysis period. China constitutes the largest regional market for the room air conditioners segment and accounts for 45.3% of global sales. China is poised to record the fastest compound annual growth rate of 6.8% during the analysis period, to reach 62.9 million units by 2026.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the commercial air conditioner segment is readjusted to a revised CAGR of 3.1% for the next 7-year period.
The air conditioning systems market in the U.S. is estimated at 14.8 million units in the year 2022. China, the world's second-largest economy, is forecast to reach a projected market size of 65.9 million units by 2026 with a CAGR of 6.7% during the analysis period. Other notable geographic markets include Japan and Canada, each forecasting growth of 2.9% and 3.4%, respectively, during the analysis period. Within Europe, Germany is forecast to grow by approximately 3.5% CAGR.
