World-Wide COVID-19 Pandemic Has a Substantial Impact on Demand for Air Conditioning Systems in 2021

The global market for air conditioning systems is expected to reach 148.7 million units by 2026.


The process of air conditioning allows for the cooling, heating, and ventilation of indoor air. The primary functions of Air Conditioning Systems are humidity control and air cleaning, despite the fact that the term "air conditioning" is most commonly associated with the cooling process.


The increasing consumer awareness of energy efficiency in the face of rising energy costs and climate change challenges is a major market growth driver. In the coming years, the market share of energy-efficient equipment will increase significantly. As a result of the COVID-19 crisis, the global market for Air Conditioning Systems is expected to reach a revised size of 148.7 million Units by 2026, expanding at a CAGR of 5.6% during the forecast period.


One of the segments analysed in the report, Room Air Conditioners, is anticipated to grow at a CAGR of 5.9 percent and reach 132.4 million units by the end of the analysis period. After a comprehensive analysis of the business implications of the pandemic and the resulting economic crisis, the CAGR for the next seven years for the Commercial Air Conditioners segment is revised to 3.1%.


China is projected to reach 65.9 million units by 2026, while the U.S. market is predicted to reach 14.3 million units in 2021.


The market for Air Conditioning Systems in the United States is anticipated to reach 14.3 million units in 2021. China, the second largest economy in the world, is anticipated to reach a market size of 65.9 million Units by 2026, with a CAGR of 6.7% over the forecast period.


Other noteworthy geospatial markets include Japan and Canada, which are projected to grow by 2.9% and 3.4% respectively over the analysis period. Germany is anticipated to grow at a CAGR of approximately 3.5% within Europe. Studies have demonstrated that coronavirus can spread through shared air. According to a study conducted by the University of Oregon, coronavirus was detected in approximately 25 percent of the HVAC systems of hospitals treating COVID-19 patients.


Consequently, they determined that sharing the same air space with coronavirus patients could result in the spread of the infection. Therefore, heating, ventilation, and air conditioning systems are being upgraded prior to the reopening of the buildings. The demand for portable filter machines and air monitoring systems is increasing as a result of these costly upgrades.


The segment for room air conditioners will reach 132.4 million units by 2026.


Room air conditioners, also known as window air conditioners, are predominantly used in the domestic segment. These are extremely popular due to their low maintenance and replacement costs. The global market for Room Air Conditioners is estimated at 94.3 million Units in 2020 and is anticipated to reach 132.4 million Units by 2026, representing a CAGR of 5.9% over the forecast period.


China is the largest regional market for the Room Air Conditioners segment in 2020, accounting for 45,3 percent of global sales. China is projected to achieve the highest compound annual growth rate of 6.8 percent over the period of analysis, reaching 62.9 million Units by 2026.