Air Conditioners Market Size, Share, Growth Analysis, By Type(Room AC-Windows, split; Ducted AC- Ceiling Concealed, Rooftop Packaged; Ductless AC- cassette, Floor Standing), By Application(Residential, Commercial Offices and Retail, Industrial), By Technology(Manual, Automatic), By Distribution Channel(Online Retail, Retail Shops, Direct Sales, Distribution Sales), By Region - Industry Forecast 2024-2031

Air Conditioners Market size was valued at USD 131.08 billion in 2019 and is poised to grow from USD 139.99 billion in 2023 to USD 236.96 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).

Due to a decline in consumer expenditure, the COVID-19 pandemic's expansion had a detrimental effect on the market for air conditioners in 2019. Nevertheless, the market is anticipated to rebound in 2019 and post a steady increase helped by shifting climatic circumstances and rising commercial development demand. Additionally, it is anticipated that over the forecast period, consumers' increased preference for comfort and convenience will support demand for air conditioners.

Places including in homes, workplaces, shops, and entertainment venues, air conditioning systems are used. Ecologically conscious goods are still quite expensive, yet they are still in high demand in developing nations. Air conditioning systems have significantly changed the indoor environment, especially in hot and arid areas, and have become an essential part of the infrastructure that sustains modern spaces. In addition, it is anticipated that as emerging economies continue to experience explosive economic expansion, demand for air conditioning would rise.

US Air Conditioners Market is poised to grow at a sustainable CAGR for the next forecast year.