Over the past few years, air conditioning market has profoundly grown across the world especially in developed countries. The accelerated rise of new technologies, development in emerging markets and changing consumer preferences has led to dramatic change in economies across the world, resulting in rising demand in the air conditioning market. The technology in air conditioning systems has been transforming and witnessing massive innovations in inclusive disciplines like compressor technology, coolers, filters, and drying agents.
These technological advancements are aimed at enhancing performance and reducing energy costs. The advanced automation and smart features including solar power air conditioning, smart thermostats, integrated systems, reduction of CO2 emissions and improved energy efficiency have become extremely imperative at present in air conditioning products.
Infiniti research–market intelligence uses numerous sources of information to create a broader picture of the existing market space, customers, inherent problems, competition, and growth potential for new products.
Possible Obstacles to the Growth of the Air Conditioning Market
The refrigerants used in air conditioners and similar equipment have high global warming and ozone depletion potential. The use of fluorinated gases as refrigerants is expected to see a drop over a period of time. These gases are delisted in some regions and are expected to be completely banned soon. New regulations by local authorities that will replace the prevalent setup with definitely impact the air conditioning market.
Air conditioners are appliances that consume the maximum energy amongst all the other appliances used in a typical residential apartment. The high consumption of energy restricts the usage of air conditioning throughout the day. Air conditioning also demands routine maintenance for temperature controllability and effective performance.
The market for air conditioning is highly fragmented with the presence of many players and the competition among these players is intense. Thus, the intensified competition entails the vendors to adopt new technologies and provide smart and automated features in their products to gain a competitive advantage.
The air conditioner industry is also subject to uncontrollable challenges and circumstances like weather conditions. Global warming has brought about a substantial shift in weather patterns. While the resultant increasing warmth has proved advantageous to the market, the other effects manifested in terms of delayed arrival of summers, longer monsoons, and cooler summers have impacted sales.
A Step in the Right Direction: Insights from Infiniti Research
As per the market research experts at Infiniti, air conditioning manufacturers must be committed to developing green and efficient technologies. Hence, they need to redesign their product offerings to reduce running costs while increasing sustainability. This can be achieved by utilizing newer technology innovations in air conditioning like HVAC controls and building systems that help in reducing energy consumption.
Market intelligence solutions offered by Infiniti Research also delivers a detailed analysis on the competitive landscape of the industry including the prominent vendors in the market to help the associated firms craft a better strategy to face the competition and attain their slice of the competitive advantage.
Additionally, our solutions also bestow an in-depth understanding of new and emerging trends in the air conditioning industry that helps firms understand and profit from the advancement of technologies, business models and other related aspects that impact this exciting and progressive business discipline.