01 January 2019

Increasing temperature and humidity levels along with technological advancements such as air purification technology will propel the global air-conditioners market to reach $231 billion by 2023, said a recent report.

According to the TechSci Research report, titled “Global Air Conditioners Market By Product Type, By Region, Competition Forecast & Opportunities, 2013-2023”, the market is expected to see major growth on account of the improving lifestyle of the middle-class population, increasing disposable income of consumers and changing climatic conditions which is resulting in high temperature and humidity levels, globally.

Moreover, global construction output is increasing at a rapid pace while growing travel and tourism and hospitality sectors across the globe is further pushing deployment of new air-conditioners in hotels, airports and other commercial areas.

Additionally, leading air-conditioner manufacturers such as LG, Samsung, Carrier and Daikin  are offering air-conditioners with built-in air purifiers, which are gaining popularity among consumers due to their dual features, the report said.

 Furthermore, a major demand for air-conditioners is emanating from Asia-Pacific from countries like China, Japan and India.

However, the Middle East and Africa (MEA) region is anticipated to emerge as the fastest growing market for air-conditioners in the coming years across the globe. 

 

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