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Global A/C Growth Predicted

Research firm Companies and Markets has released a study that estimates the global air conditioning market will grow at a compound annual growth rate of 18.5 percent through 2015.

Having witnessed a temporary disruption in growth, primarily due to the recent economic recession, the global market for air conditioning systems staged a remarkable recovery in the year 2010 and is now projected further to register 144.3 million units in volume sales by 2017.

Key factors contributing to growth within the industry include the increased need for energy-efficient air conditioners and the development of inverter-based air conditioners.

Another major factor which is expected to steer the market in the next few years is the rapidly growing replacement need, particularly in mature markets such as the U.S. and Europe. Given the growing focus on energy conservation, the demand for replacing old air conditioning systems with new energy-efficient models will be on the rise, thereby adding to market gains.

Read the full article here.

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