Air Conditioner Market Report 2025 (Global Edition)

Global Air Conditioner Market Report 2025 Market Size Split by Technology (Window AC, Split and Multi-Split AC, Packaged AC, Variable Refrigerant Flow (VRF), Central AC, Others), by Technology (Invert...

Air Conditioner Market Report Description

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Competitive Landscape of the Air Conditioner Market

In the Air Conditioner Market's competitive landscape, numerous key competitors are driving innovation and growth. These companies are putting more of an emphasis on technical advancements like smart HVAC systems and energy-efficient systems in order to meet the rising demand for sustainability. Market rivalry is encouraging technological and design innovations to create Air Conditioner that fulfill both consumer wants and sustainability goals, keeping the market dynamic and competitive.

In October 2024, LG debuted its newest range of AI-enabled smart air conditioners, which let users control and personalize their cooling preferences through a smartphone app. Customized climate control and smart home integration are trends that are highlighted by this advancement. (Source: https://www.lg.com/in/about-lg/press-and-media/lg-electronics-launches-2022-range-of-ai-dual-inverter-air-conditioners/?srsltid=AfmBOooPymcQKNAEaXQW_GzLCKyUzorAoctCtJpn_E-YGma4diHhDOAo) In August 2024, Carrier announced a partnership with a leading IoT firm to develop networked air conditioning systems that provide predictive maintenance alerts and real-time monitoring. For business clients, this project aims to reduce operational costs and increase efficiency. (Source: https://www.carrier.com/commercial/en/au/services/operate-service-protect/prevent-and-predict/) In February 2023, In their AquaEdge 19MV oil-free water-cooled chiller, Carrier stated that the decreased GWP (global warming potential) 515B refrigerant is now available. The cutting-edge AquaEdge 19MV performs well in challenging, extreme, and unexpected operational and meteorological conditions. (Source: https://www.carrier.com/commercial/en/us/news/news-article/carrier-adds-515b-lower-gwp-refrigerant-option-to-aquaedge-19mv-oil-free-water-cooled-chiller.html)

Top Companies Market Share in Air Conditioner Industry: (In no particular order of Rank)

• Daikin Industries Ltd.
• Mitsubishi Electric Corporation
• Carrier Corporation
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Panasonic Corporation
• Hitachi Ltd.
• Toshiba Corporation
• Johnson Controls International plc
• Haier Group Corporation
• Lennox International Inc.
• Fujitsu General Limited
• Electrolux AB
• Whirlpool Corporation
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Air Conditioner Market

Which Region Dominates the Air Conditioner Market in 2024?

According to Cognitive Market Research, North America currently dominates the Air Conditioner market, and the region is expected to have significant growth during the projected period. The adoption of cutting-edge technologies like inverter air conditioners is fueled by the region's emphasis on sustainability and strict energy efficiency laws.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The region's market expansion is further supported by rising investments in smart city initiatives and infrastructure development.

The current report Scope analyzes Air Conditioner Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Air Conditioner

According to Cognitive Market Research, the global Air Conditioner Market size was estimated at USD 165142.6 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 66057.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Air Conditioner Market with a market size of USD 52119.00 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. The U.S. market's Stringent governmental regulations against pollution.
• The Canada Air Conditioner Market had a market share of USD 7926.84 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Canada’s rising awareness among the population.
• The Mexico Air Conditioner Market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 6011.19 million in 2024.

Europe Air Conditioner

According to Cognitive Market Research, the global Air Conditioner Market size was estimated at USD 165142.6 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 49542.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Air Conditioner Market had a market share of USD 8323.19 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. In the UK, Air Conditioner sales witness an upswing due to the increasing focus on sustainable cooling solutions.
• The France Air Conditioner Market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 4557.94 million in 2024.
• According to Cognitive Market Research, the German Air Conditioner Market size was valued at USD 9809.47 million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. In Germany, Air Conditioner surged due to the Increased focus of the manufacturers and major market players.
• The Italy Air Conditioner Market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD 4260.68 million in 2024.
• The Russia Air Conditioner Market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 7679.13 million in 2024.
• The Spain Air Conditioner Market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 4062.51 million in 2024
• The Luxembourg Air Conditioner Market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD 1535.83 million in 2024.
• The Portugal Air Conditioner Market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 1040.40 million in 2024.
• The Greece Air Conditioner Market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 594.51 million in 2024.
• The Rest of Europe's Air Conditioner Market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD 7679.13 million in 2024.

Asia Pacific Air Conditioner

According to Cognitive Market Research, the global Air Conditioner Market size was estimated at USD 165142.6 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 37982.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Air Conditioner Market size was valued at USD 17092.26 million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. Air Conditioner surged in China due to Increased focus of the manufacturers and major market players.
• The Japan Air Conditioner Market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 5241.63 million in 2024.
• The India Air Conditioner Market had a market share of USD 4557.94 million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. India's rising awareness among the populations .
• The South Korean Air Conditioner Market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD 3798.28 million in 2024.
• The Australian Air Conditioner Market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 1975.11 million in 2024.
• The South East Asia Air Conditioner Market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD 2620.81 million in 2024.
• The Rest of Asia Pacific Air Conditioner Market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD 2696.78 million in 2024.

South America Air Conditioner

According to Cognitive Market Research, the global Air Conditioner Market size was estimated at USD 165142.6 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 8257.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Air Conditioner Market size was valued at USD 3534.05 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Air Conditioner flourished in Brazil due to increasing demand for cooling solutions for homes and businesses.
• Argentina's Air Conditioner Market had a market share of USD 1387.20 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Argentina's rising temperatures.
• Colombia Air Conditioner Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 734.88 million in 2024.
• Peru Air Conditioner Market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 677.08 million in 2024.
• Chile Air Conditioner Market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 594.51 million in 2024.
• The Rest of Latin America's Air Conditioner Market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 1329.40 million in 2024.

Middle East Air Conditioner

According to Cognitive Market Research, the global Air Conditioner Market size was estimated at USD 165142.6 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 3302.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..

• The GCC Countries Air Conditioner Market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 1413.62 million in 2024. Air Conditioner sales flourish due to the presence of major market players.
• The Egypt Air Conditioner Market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 346.80 million in 2024.
• The South Africa Air Conditioner Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 521.85 million in 2024. Air Conditioner sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey Air Conditioner Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 284.05 million in 2024.
• The Nigeria Air Conditioner Market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 346.80 million in 2024.
• The Rest of the MEA Air Conditioner Market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 389.74 million in 2024.

Air Conditioner Market Analysis

How are Segments Performing in the Global Air Conditioner Market?

Air Conditioner Market Type Segment Analysis

According to Cognitive Market Research, Split air conditioners are likely to dominate the Air Conditioner Market over the forecast period, because of their effectiveness, quieter operation, and visual appeal. Due to their ability to reduce noise and improve cooling efficiency, these units are especially well-liked in residential and commercial settings where the condenser and evaporator are separated. Due to consumer desires for more sophisticated and effective cooling options, split air conditioner demand is predicted to keep rising.

The window air conditioners is the fastest-growing segment in the Air Conditioner Market, their low cost and simplicity of installation. These units are perfect for smaller areas and are frequently seen in residential settings, especially in areas with mild climates. Because window units are affordable and ideal for consumers on a tight budget, they continue to have a significant market share even as split air conditioners gain popularity.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Air Conditioner Industry. Request a Free Sample PDF!

Air Conditioner Market Technology Segment Analysis

According to Cognitive Market Research, Inverter technology segment holds the largest share of the market, because of its excellent performance and energy efficiency. Inverter air conditioners use less energy and maintain a constant room temperature by varying the compressor speed to meet the cooling demand.

In the Air Conditioner Market, the Non-inverter air conditioners has been expanding at a rapid pace. Non-inverter air conditioners run at a set speed, alternating between on and off compressors to maintain the appropriate temperature. Compared to inverter types, these units are typically less expensive, but they also use more energy and provide less accurate temperature control.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Air Conditioner End User Segment Analysis

Air Conditioner Market End User Segment Analysis

According to Cognitive Market Research, The residential segment holds the largest market share, because there is a growing need for home comfort solutions. The need for household air conditioners is increasing due to growing middle classes and rising disposable incomes, particularly in emerging nations.

In the Air Conditioner Market, the rapidly growing sector is the commercial category. The growth in this category is induced by the growth of retail stores, office buildings, and hospitality organizations. One important factor driving expansion is the requirement for a cozy interior setting to improve both employee productivity and consumer satisfaction.

• Residential
• Commercial

Air Conditioner Distribution Channel Segment Analysis

Air Conditioner Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the online stores segment dominates the market, because of their wide selection of products and ease of use. From the convenience of their homes, consumers can quickly read reviews, compare various models, and make well-informed judgments about what to buy.

Supermarkets and hypermarkets is projected to be the fastest-growing segment in the Air Conditioner Market. Supermarkets and hypermarkets are still essential for the distribution of air conditioners, especially for customers who would rather inspect and try the products before buying.

• Multi-Brand stores
• Exclusive Stores
• Online Stores

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

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