The global air conditioning market size was US$ 120.3 billion in 2021. The global air conditioning market size is forecast to reach US$ 198.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.

The system that controls the humidity, temperature and ventilation within cars or buildings is known as air conditioning. It is capable of spreading conditioned air to improve the surrounding environment's thermal comfort. In this system, cooling is usually accomplished through the refrigeration cycle or through the evaporation process. Automobile air conditioning provides three purposes: cooling, filtration, and heating.

Factors Influencing Market Growth

• Factors driving the global market include growing vehicle production and increasing demand for optimum comfort during driving. 
• Problems with mechanical failure and increased maintenance expenses may slow down the overall market growth. 
• The growing utilization of the air conditioning system in the domestic, commercial, and industrial sectors contributes to the global market growth.
• Technologically advanced air conditioners with inverter and air purification technologies are forecast to fuel the global air conditioner market.

Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global market growth. The spread of COVID-19 wreaked havoc on market demand and the worldwide supply chain. In addition, China is one of the world's major buyers and producers of air conditioners. It also exports raw materials used to make finished items to a variety of countries. Other air conditioner manufacturers globally had to temporarily halt production of final goods due to the stoppage in China. As a result, the supply and demand mismatch in the market growth.

Regional Insights

North America garnered the largest market share in 2021. As ar result, the growing promotional activities from the government in order to raise the adoption of energy-efficient air conditioning systems to reduce energy consumption are fueling the regional market's growth. 

The Asia Pacific is forecast to have a lucrative growth in the air conditioning market during the forecast period. As a result of the rising economy in the domestic emerging countries such as China and India. In addition, increase in automobile production, consumer demands for comfort, growing vehicle demand, a surge in per capita income, and technological advancements. Therefore, these factors are forecast to drive regional market growth. 

Leading Competitors

The leading prominent companies profiled in the global air conditioning market are:

• Denso Corporation
• Eberspaecher Holding GmbH & Co. KG
• MAHLE GmbH
• Hanon Systems
• Calsonic Kansei Corporation
• Keihin Corporation
• Sanden Holdings Corporation
• Mitsubishi Heavy Industries Ltd.
• Valeo SA
• Subros Limited
• Other Prominent Players

Scope of the Report

The global air conditioning market segmentation focuses on Technology, Distribution Channel, Component, Vehicle Type, End-User, and Region.

Segmentation based on Technology

• Manual Air conditioning
• Semi-automatic Air Conditioning
• Automatic Air Conditioning

Segmentation based on Distribution Channel

• Multi-brand Stores
• Exclusive Stores
• Online
• Other Channels

Segmentation based on Component

• Compressor
• Evaporator
• Drier/Receiver
• Condenser

Segmentation based on Vehicle Type

• Passenger cars
• Light Commercial Vehicle (LCVs)
• Heavy Commercial Vehicle (HCV)

Segmentation based on End-User

• Residential
• Commercial
• Industrial

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America