Split Air Conditioning Systems Market: Rising Demand in Residential and Industrial Sector to Work in Favor of Asia Pacific Market

-
The highly dynamic and intensely competitive global split air conditioner systems market features some of the world’s dominant electronics and technology companies. The need to conform to strict government policies and regulations in different countries regarding the emission and control of greenhouse gases and consumption of electricity are the key factors influencing the development of the market. These factors have increased the focus of key players on increasing product power and operating efficiency, observes a recent report by Transparency Market Research. Companies are also looking at prospects of enhancing their businesses through partnerships and optimizing overseas business networks.

A recent instance is the joint venture of Midea Group with Lihom Cuchen, a renowned appliances manufacturer from South Korea in February 2016 with the aim of pursuing unique benefits in research and development, technology, manufacturing, patent sharing, and expanding its global presence. Some of the key players in the market are Daikin Industries Ltd., Electrolux AB, The Midea Group., Carrier Corporation, Haier Electronics Group Co., Ltd., and Hisense International Co. Ltd.


Mono-split Systems to Comprise Dominant Share in Market Revenue

Transparency Market Research states that the global split air conditioning systems market was valued at US$91.09 billion in 2017 and will expand at a CAGR of 4.9% from 2017 to 2024, reaching a market size of US$127.27 billion in 2024. In terms of equipment type, the segment of mono-split systems accounted for almost 70% of the market share in terms of revenue in 2017. Based on geography, the Asia-Pacific region emerged as the dominant segment in the split air conditioning systems and the trend is expected to continue over the forecast period as well.

Rising Demand for Energy-efficient Air Conditioning Systems to be Key to Market Growth

In mature markets such as North America and Europe, energy efficiency has been a major concern with the use of conventional air conditioning systems. Growing awareness among consumers regarding energy efficient models is, hence, emerging as the key force boosting the growth prospects of the split air conditioning systems market. Additionally, the growth in the commercial and residential segment in Asia-Pacific has resulted in a vast rise in demand for split air conditioning systems in the region.


Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation ma...
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. ...
Read more

Architectural LED Products Market: Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2018 - 2026

-
  Global Architectural LED Products Market: Overview  Safety is one of the key concern in architectural spaces, which is important to recognize the need for acceptable architectural lighting. Proper architectural lighting has a vital role for people occupying the architectural space. Additionally, architectural lighting attracts the person’s attention and enables the architectures for serving its true purpose with enhanced features.  The  architectural LED products market  report involves some of the insightful predictions over the scope of the market and some prospects over growth. The new report from Transparency Market Research (TMR) on the architectural LED products market offers the thorough analysis of market segmentation and involves the past revenue and future forecasts. The report offers numerous key strategies adopted by key players coupled with some prominent trends, which are impacting on the growth. Along with this, it explains important information...
Read more