Air conditioning systems market with Worldwide Industry Analysis to 2 FMI | Page 4

Report
Description
Report Description
Global air conditioning systemsmarket is segmented on the basis of product types such as
room air conditioners, packaged air conditioners, split air conditioners, mini split air
conditioners, ductless air conditioners, terminal air conditioners, central air conditioners,
portable air conditioners and packaged central air conditioners.
Improvement in housing standards is fuelling the demand for room air conditioners while
packaged air conditioners is estimated to grow at a moderate rate with rising permit rate
for construction of mall, offices and industries.Split air conditioning systems on the other
hand offers plenty of benefits including less noise, low initial cost and ease of installation.
It accounts for over half of the overall share in terms of revenue and is estimated to be
thedominant product segment during the forecast period.Portable air conditioners are
highly efficient and compact in nature and are expected to register fastest CAGR for
forecast period, as they do not require everlasting installation and can be moved from
one place to another with ease.
The global air conditioning systems market is expected togrow almost twofold with a
double digit CAGR for the forecast period. As of 2013 APAC is the largest market for
global air conditioning systems market with almost 30% of market share followed by
North America and Europe. Higher disposable incomes followed by improved lifestyle
arekey growth fac tors for the APAC market.Europe is estimated to register high growth
rate with an increase in infrastructure development supported by varying weather
conditions, and take leadin global air conditioning systems market by 2020.