The global air conditioning market size was US$ 120.3 billion in 2021. The global air conditioning market size is forecast to reach US$ 198.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.

The system that controls the humidity, temperature and ventilation within cars or buildings is known as air conditioning. It is capable of spreading conditioned air to improve the surrounding environment's thermal comfort. In this system, cooling is usually accomplished through the refrigeration cycle or through the evaporation process. Automobile air conditioning provides three purposes: cooling, filtration, and heating.

Factors Influencing Market Growth

Factors driving the global market include growing vehicle production and increasing demand for optimum comfort during driving.
Problems with mechanical failure and increased maintenance expenses may slow down the overall market growth.
The growing utilization of the air conditioning system in the domestic, commercial, and industrial sectors contributes to the global market growth.
Technologically advanced air conditioners with inverter and air purification technologies are forecast to fuel the global air conditioner market.
Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global market growth. The spread of COVID-19 wreaked havoc on market demand and the worldwide supply chain. In addition, China is one of the world's major buyers and producers of air conditioners. It also exports raw materials used to make finished items to a variety of countries. Other air conditioner manufacturers globally had to temporarily halt production of final goods due to the stoppage in China. As a result, the supply and demand mismatch in the market growth.

Regional Insights

North America garnered the largest market share in 2021. As ar result, the growing promotional activities from the government in order to raise the adoption of energy-efficient air conditioning systems to reduce energy consumption are fueling the regional market's growth.

The Asia Pacific is forecast to have a lucrative growth in the air conditioning market during the forecast period. As a result of the rising economy in the domestic emerging countries such as China and India. In addition, increase in automobile production, consumer demands for comfort, growing vehicle demand, a surge in per capita income, and technological advancements. Therefore, these factors are forecast to drive regional market growth.

Leading Competitors

The leading prominent companies profiled in the global air conditioning market are:

Denso Corporation
Eberspaecher Holding GmbH & Co. KG
MAHLE GmbH
Hanon Systems
Calsonic Kansei Corporation
Keihin Corporation
Sanden Holdings Corporation
Mitsubishi Heavy Industries Ltd.
Valeo SA
Subros Limited
Other Prominent Players
Scope of the Report

The global air conditioning market segmentation focuses on Technology, Distribution Channel, Component, Vehicle Type, End-User, and Region.

Segmentation based on Technology

Manual Air conditioning
Semi-automatic Air Conditioning
Automatic Air Conditioning
Segmentation based on Distribution Channel

Multi-brand Stores
Exclusive Stores
Online
Other Channels
Segmentation based on Component

Compressor
Evaporator
Drier/Receiver
Condenser
Segmentation based on Vehicle Type

Passenger cars
Light Commercial Vehicle (LCVs)
Heavy Commercial Vehicle (HCV)
Segmentation based on End-User

Residential
Commercial
Industrial
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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