Market Overview:
The global smart air conditioner market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient and environment-friendly cooling solutions, growing awareness about the benefits of using smart air conditioners, and rising disposable income levels in developing countries. Window air conditioners are expected to account for the largest share of the global smart air conditioner market by type during the forecast period. This can be attributed to their low cost and easy installation as compared to other types of smart air conditioners.
Product Definition:
Smart air conditioners are a type of air conditioner that can be controlled by a smart device, such as a phone or tablet. They can be programmed to turn on and off at certain times, and they can also be adjusted to different temperatures depending on the needs of the person or people who are using them. Smart air conditioners are important because they allow people to have more control over their environment and how it affects them. They can help save money on energy costs, and they can also make it easier for people to stay comfortable in their homes during extreme weather conditions.
Window Air Conditioners:
The window air conditioner is one of the most popular products in the market. Window air conditioners are also known as portable or room air conditioners and they consist of a small heating unit, which is usually plugged into a power point. The main function of this product is to provide cooling by creating cold wind from inside the room through its ventilation system.
Floor Stand Air Conditioners:
Floor stand air conditioners are portable air conditioners that can be used indoor as well as in outdoor. It is a low-maintenance device and hence, it does not require any external power source to function. The floor stand air conditioner works on the principle of cooling by evaporation of water from its surface through condensation. It has an ability to cool down an area up to 3,000 Sq ft.
Application Insights:
The commercial application segment dominated the global smart air conditioner market, accounting for more than 60.0% share of the total revenue in 2017. The growth can be attributed to an increase in demand for HVAC systems with advanced features and functions across multiple applications such as data centers, corporate offices, government buildings and education institutions. Furthermore, technological advancements in air conditioning systems have resulted in increased adoption across shopping malls and retail stores which has driven demand over the past few years.
Residential is expected to be one of the fastest-growing segments owing to increasing adoption of energy efficient products that offer cost savings along with improved indoor climate control system coupled with a growing number of end-use consumers including first-time buyers or owners having a single unit at their residences or multiples units at their residences are all factors driving product demand over the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030. The growth can be attributed to rising disposable income, coupled with high population density in countries such as India and China. Moreover, increasing number of residential and commercial construction projects are also anticipated to drive the product demand in this region.
North America accounted for more than 25% share of global revenue in 2017 owing to early adoption by consumers as well as manufacturers regarding energy efficiency along with technological advancements associated with air conditioning units. Furthermore, presence of prominent players such as LG Electronics Inc.; Panasonic Corporation; Samsung Group; and Sony Corporation will continue driving the regional market over the forecast period.
Europe is projectededto witness moderate growth due its geographical location between two major markets i.e.
Growth Factors:
- Increasing demand for energy-efficient appliances: The global market for smart air conditioners is expected to grow at a CAGR of more than 15% during the forecast period. This is due to the increasing demand for energy-efficient appliances, as consumers are becoming increasingly aware of the need to save energy and reduce their carbon footprint.
- Rising awareness about health benefits of using smart air conditioners: Smart air conditioners offer various health benefits such as improved indoor air quality and reduced exposure to allergens, which is driving their adoption among consumers worldwide.
- Growing popularity of home automation: Home automation is gaining popularity among homeowners, and this is expected to boost the growth of the global market for smart air conditioners in the coming years.
- Rapid urbanization and growing disposable income in emerging markets: The rapid urbanization and rising disposable income in emerging markets are fueling the growth of the global market for smart air conditioners.
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Air Conditioner Market Research Report
By Type
Window Air Conditioners, Floor Stand Air Conditioners, Ceiling Type Air Conditioner, Wall Mounted Air Conditioner
By Application
Commercial, Residential, Other
By Companies
Carrier, Daikin, LG, Panasonic, York, Hitachi, Trane, Mitsubishi, Whirlpool, Toshiba, Carrier, Fujitsu, Gree, Midea, Chunlan, Haier, Chigo, AUX, Hisense Kelon
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
207
Number of Tables & Figures
145
Customization Available
Yes, the report can be customized as per your need.
Global Smart Air Conditioner Market Report Segments:
The global Smart Air Conditioner market is segmented on the basis of:
Types
Window Air Conditioners, Floor Stand Air Conditioners, Ceiling Type Air Conditioner, Wall Mounted Air Conditioner
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial, Residential, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Carrier
- Daikin
- LG
- Panasonic
- York
- Hitachi
- Trane
- Mitsubishi
- Whirlpool
- Toshiba
- Carrier
- Fujitsu
- Gree
- Midea
- Chunlan
- Haier
- Chigo
- AUX
- Hisense Kelon
Highlights of The Smart Air Conditioner Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Window Air Conditioners
- Floor Stand Air Conditioners
- Ceiling Type Air Conditioner
- Wall Mounted Air Conditioner
- By Application:
- Commercial
- Residential
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Air Conditioner Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A smart air conditioner is a type of air conditioning unit that can be controlled using a mobile app or computer. These units are often more energy-efficient and feature other features, such as remote access, that make them easier to use.
Some of the major companies in the smart air conditioner market are Carrier, Daikin, LG, Panasonic, York, Hitachi, Trane, Mitsubishi, Whirlpool, Toshiba, Carrier, Fujitsu, Gree, Midea, Chunlan, Haier, Chigo, AUX, Hisense Kelon.
The smart air conditioner market is expected to grow at a compound annual growth rate of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Air Conditioner Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Air Conditioner Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Air Conditioner Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Air Conditioner Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Air Conditioner Market Size & Forecast, 2018-2028
4.5.1 Smart Air Conditioner Market Size and Y-o-Y Growth
4.5.2 Smart Air Conditioner Market Absolute $ Opportunity
Chapter 5 Global Smart Air Conditioner Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Smart Air Conditioner Market Size Forecast by Type
5.2.1 Window Air Conditioners
5.2.2 Floor Stand Air Conditioners
5.2.3 Ceiling Type Air Conditioner
5.2.4 Wall Mounted Air Conditioner
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Air Conditioner Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Smart Air Conditioner Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Residential
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Air Conditioner Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Air Conditioner Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart Air Conditioner Analysis and Forecast
9.1 Introduction
9.2 North America Smart Air Conditioner Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart Air Conditioner Market Size Forecast by Type
9.6.1 Window Air Conditioners
9.6.2 Floor Stand Air Conditioners
9.6.3 Ceiling Type Air Conditioner
9.6.4 Wall Mounted Air Conditioner
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Smart Air Conditioner Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Residential
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Smart Air Conditioner Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Air Conditioner Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart Air Conditioner Market Size Forecast by Type
10.6.1 Window Air Conditioners
10.6.2 Floor Stand Air Conditioners
10.6.3 Ceiling Type Air Conditioner
10.6.4 Wall Mounted Air Conditioner
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Smart Air Conditioner Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Residential
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Smart Air Conditioner Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Air Conditioner Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart Air Conditioner Market Size Forecast by Type
11.6.1 Window Air Conditioners
11.6.2 Floor Stand Air Conditioners
11.6.3 Ceiling Type Air Conditioner
11.6.4 Wall Mounted Air Conditioner
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Smart Air Conditioner Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Residential
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Smart Air Conditioner Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Air Conditioner Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart Air Conditioner Market Size Forecast by Type
12.6.1 Window Air Conditioners
12.6.2 Floor Stand Air Conditioners
12.6.3 Ceiling Type Air Conditioner
12.6.4 Wall Mounted Air Conditioner
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Smart Air Conditioner Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Residential
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Smart Air Conditioner Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Air Conditioner Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart Air Conditioner Market Size Forecast by Type
13.6.1 Window Air Conditioners
13.6.2 Floor Stand Air Conditioners
13.6.3 Ceiling Type Air Conditioner
13.6.4 Wall Mounted Air Conditioner
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Smart Air Conditioner Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Residential
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Air Conditioner Market: Competitive Dashboard
14.2 Global Smart Air Conditioner Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Carrier
14.3.2 Daikin
14.3.3 LG
14.3.4 Panasonic
14.3.5 York
14.3.6 Hitachi
14.3.7 Trane
14.3.8 Mitsubishi
14.3.9 Whirlpool
14.3.10 Toshiba
14.3.11 Carrier
14.3.12 Fujitsu
14.3.13 Gree
14.3.14 Midea
14.3.15 Chunlan
14.3.16 Haier
14.3.17 Chigo
14.3.18 AUX
14.3.19 Hisense Kelon
