Air conditioning systems offer comfort during hot weather conditions by regulating indoor air temperature and humidity. The systems primarily consist of an evaporator, condenser, compressor, thermostat, and refrigerant coils. Growing building construction activities, increasing disposable incomes, along with extreme weather conditions have bolstered demand for air conditioning systems globally.
The Global Air conditioning Market is estimated to be valued at US$ 119.77 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 To 2031.
Market Trends
The growing popularity of variable Air Conditioning Systems Demand can be attributed to their energy efficiency and zoning controls. VRF technology allows flexible indoor unit arrangements and individual temperature controls. Mini-split ductless air conditioners and heat pumps are gaining widespread acceptance for their ease of installation and ability to condition single or multiple rooms. Integrating air conditioners with advanced technologies such as AI, IoT, and machine learning enables intelligent operation and enhanced user experience.
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