October 06, 2022 10:30 ET | Source: Transparency Market Research Transparency Market Research

Albany, New York, UNITED STATES

Wilmington, Delaware, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - By 2022, the value of global air conditioning system market is expected to touch value of US$ 1.68 Bn. The global market is anticipated to rise at 4.9% CAGR during the forecast period, from 2022 to 2031. By 2031, the global air conditioning system market is likely to attain value of US$ 2.70 Bn. Due to increasing urbanization, renovation of buildings vulnerable to natural disasters, significant investment opportunities in industrial and infrastructure sectors are likely to drive the global market. Besides, with increasing construction activities in several developing countries around the world, the global central air conditioning market is predicted to expand significantly during the forecast timeframe.

Businesses are putting their efforts into attaining long-term success through ongoing innovation, efficient integration of air conditioning system components, and enhancement of various air conditioning system types. Growing building activities in many developing countries, renovation of buildings located in disaster-prone areas, and considerable infrastructure expenditures are estimated to present huge opportunities for air conditioning system makers.

Due to government regulations requiring energy efficient models, industry participants are also placing more emphasis on air conditioning systems that use less energy, which is anticipated to drive the future of air conditioning systems in the forthcoming years.

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Key Findings of Market Report

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Global Air Conditioning System Market: Key Players

Some of the key market players are

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Global Air Conditioning System Market: Segmentation

Split Air Conditioning Systems Market- Split Air Conditioning Systems Market to Reach US$ 187 Bn by 2026

Air Purifier Market - The global air purifier market is estimated to reach the value of US$ 20.7 Bn by 2030, expanding at a CAGR of 8% during the forecast period

HVAC Equipment Market - Globally, revenue generated by the HVAC equipment market accounted for US$ 105.5 Bn in 2018, and the market is likely to expand at a CAGR of 5% in terms of value during the forecast period

Smart Kitchen Appliances Market- Smart Kitchen Appliances Market is expected to reach US$ 10.8 Bn by the end of 2031

Home Textile Market- Europe Home Textile Market is expected to surpass value of US$ 35.6 Billion by the end of 2031

Electrical Appliances Market- Asia Pacific Electrical Appliances Market is expected to surpass the value of US$ 589.9 Bn by the end of 2031

Online Premium Home Improvement Market- Online Premium Home Improvement Market is expected to cross value of US$ 1 Bn by the end of 2031

Household Cleaners Market- Household Cleaners Market is expected to surpass value of US$ 58.8 Bn by the end of 2031

Wireless Earphone Market - The global wireless earphone market is expected to reach US$ 18.2 Bn by the end of 2031, grow at a CAGR of 7.9% from 2022 to 2031

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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