Image Courtesy : Niall Kennedy
By 2018, the global sales of air conditioning systems is estimated to reach 148.m million units, mainly driven by the growing incomes, increasing demand for energy saving products and also due to the rise in global temperatures, as per the report given by Global Industry Analysts, Inc (GIA).
The need for air conditioning systems in residential segment is mainly due to global warming, El Nino effect along with the depletion of ozone layer.
A major change that is taking place in the ocean temperatures as well as in the atmospheric conditions of the tropical pacific, due to which the weather is disrupted around the world, is known as El Nino effect.All over the world, there would be a rapid increase in demand for room air conditioners mainly driven by the improvements made in the residential segment (houses).
The packaged air conditioners market will be driven mainly by the growth in number of building permits in commercial constructions which includes malls, industrial facilities, and office space etc. In the long term, the global AC manufacturers will also have a rapid growth opportunity driven by rapid industrialization, decline in prices of air conditioning technologies, technical advancements and also because of affordability among consumers.Even though there was a slowdown in the Air conditioning systems market, caused due to economic uncertainty throughout the world, the market still continues to be stable because of the growing adoption of Air conditioners in emerging markets such as India, Brazil, Russia and Indonesia.
There is also a huge demand for air conditioning systems across the globe, specifically in markets such as the US and Europe, mainly driven by their Ac’s replacement need. Over the past few years, the AC industry witnessed a large amount of change in their technology mainly because of the huge consumer demand to have advanced micro controls integrated into their systems along with the demand for eco-friendly refrigerants.
The new and upcoming trends in the AC industry are inverter air conditioners, solar powered air conditioners and Energy efficient air conditioning systems. Over the last few years, the newly found inverter based air conditioning systems are gaining popularity among both consumers as well as manufacturers throughout the world. These systems by adjusting their compressors can control the voltage and current frequency, hence reduces the power consumption. In the near future, the usage of more environment-friendly refrigerants in air conditioners are likely to increase, which will make an attempt in stopping the consumption and production of Chlorofluorocarbon and Hydrochlorofluorocarbon which are harmful substances that will affect the atmosphere.
China is the largest air- conditioners manufacturing country in the world. In this country, 80 million AC’s were manufactured in 2009, as per the data given by Topten International Services. Carrier Corporation, Lenox, Trane, Amana Corp, American Standard, LG, GE, Kenmore and Sharp Corp are some of the top AC manufacturing companies in the world.