Asia-Pacific Air Conditioners Market by Type (Split, Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others), Technology (Inverter, Non-inverter), Rating (5 Star, 4 Star, Others), End User (Residential, Others), and Geography - Forecast 2030

The Asia-Pacific Air Conditioners Market is projected to reach $122.06 billion by 2030, at a CAGR of 6.4% during the forecast period of 2024–2030. The growth of the Asia-Pacific air conditioners market is attributed to the rising temperatures & humidity levels in the region, consumers’ growing inclination toward convenience & comfort, and the rising demand for energy-efficient air conditioners. However, the high costs of air conditioners restrain the growth of this market.

The rising adoption of air conditioners with inverter & air purification technologies and technological advancements in HVAC systems are creating growth opportunities for the players operating in this market. However, the high energy consumption associated with air conditioners is a challenge for market growth. Additionally, connected air conditioners and solar photovoltaic (PV) & solar thermal-assisted air conditioning systems are major trends in this market.

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Technological Advancements in HVAC Systems Driving the Asia-Pacific Air Conditioners Market

HVAC technology development has largely been focused on mechanical innovations and enhanced efficiency. However, priorities have now shifted toward sustainability, comfort, and energy efficiency. Technological advancements in HVAC systems have enabled connecting air conditioners with smart appliances, allowing for automatic changes based on climate conditions, preferences, and settings.

Furthermore, installing ductless HVAC systems is possible in both harsh and moderate climates. Smart AC controls can boost the effectiveness of ductless systems. These brand- and type-agnostic smart AC controllers allow for the remote operation of ductless systems. In addition, the right time for maintenance can be predicted using smart HVAC technology that senses information on air quality and equipment status. Thus, minor issues can be resolved before they become serious problems.

Moreover, key market players are launching innovative products to increase their market shares. For instance, in February 2024, Samsung India Electronics Private Limited (India) launched Line-up of WindFree ACs. The new range includes Wi-Fi-enabled models with AI Auto Cooling that save up to 77% energy, Welcome Cooling, Motion Detection Sensor, Voice Control, and more.

Key Findings in the Asia-Pacific Air Conditioners Market Study:

The Split ACs Segment to Dominate the Asia-Pacific Air Conditioners Market in 2024

Based on type, the Asia-Pacific air conditioners market is segmented into window ACs, split ACs, VRF (Variable Refrigerant Flow) systems, centralized/ducted ACs, and other air conditioner types. In 2024, the split ACs segment is expected to account for the largest share of the Asia-Pacific air conditioners market. A split system is more energy efficient, uses less energy, and helps keep indoor environments clean. The large market share of this segment is attributed to the increasing demand for energy-saving and low-noise air conditioners and the growing use of split air conditioners for large spaces.

Several companies are focused on providing quality products and launching a wide range of ACs in the market. For instance, in March 2022, Blue Star Ltd (India) launched its range of affordable split ACs with high quality, reliability, and durability. Such developments drive the sales of split air conditioners.

The Inverter ACs Segment to Dominate the Asia-Pacific Air Conditioners Market in 2024

Based on technology, the Asia-Pacific air conditioners market is segmented into inverter ACs and non-inverter ACs. In 2024, the inverter ACs segment is expected to account for the larger share of the Asia-Pacific air conditioners market. The large market share of this segment is attributed to advancements in inverter technology and growing awareness of the energy-efficiency benefits of inverter technology air conditioners and rising temperature & humidity conditions.

The Residential End Users Segment to Dominate the Asia-Pacific Air Conditioners Market in 2024

Based on end user, the Asia-Pacific air conditioners market is segmented into residential end users, commercial end users, and industrial end users. In 2024, the residential end users segment is expected to account for the largest share of the Asia-Pacific air conditioners market. The large market share of this segment is mainly attributed to the growing acceptance of smart home technologies, construction companies’ increased focus on offering air-conditioned apartments, and the rising need to improve indoor air quality. Moreover, the residential end users segment is also projected to register the highest CAGR during the forecast period.

China: Largest Market in Asia-Pacific

Based on geography, the Asia-Pacific air conditioners market is segmented into China, Japan, India, South Korea, Australia & New Zealand, Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines, and the Rest of Asia-Pacific. In 2024, China is expected to account for the largest share of the Asia-Pacific air conditioners market. China’s significant market share can be attributed to the growing focus on agreements aimed at supplying air conditioning systems for urban transportation systems and initiatives by leading AC market players to establish manufacturing facilities in China to boost the production of energy recovery ventilator systems. Additionally, China's immense potential for air conditioner production, the presence of well-established air conditioner manufacturers, and the country's expertise in crafting efficient air conditioning systems contribute to its dominant position in the market. For instance, in March 2021, Liebherr-Transportation Systems (China) signed an agreement with Chengdu Xinzhu Road & Bridge Machinery Co., Ltd. (China) to provide air-conditioning systems for its newly developed maglev urban transportation system.

Key Players:

Some of the key players operating in the Asia-Pacific air conditioners market are Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Voltas Limited (India), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited (Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric Appliances Inc. (China), and Midea Group Co. Ltd (China).

Scope of the Report:

Asia-Pacific Air Conditioners Market Assessment, by Type

• Split ACs
• Window ACs
• Centralized/Ducted ACs
• VRF (Variable Refrigerant Flow) Systems
• Portable ACs

Asia-Pacific Air Conditioners Market Assessment, by Tonnage

• Up to 2 Tons
• 2 Tons to 5 Tons
• 5 Tons to 10 Tons
• More than 10 Tons

Asia-Pacific Air Conditioners Market Assessment, by Technology

• Inverter ACs
• Non-inverter ACs

Asia-Pacific Air Conditioners Market Assessment, by Rating

• 1 Star ACs
• 2 Star ACs
• 3 Star ACs
• 4 Star ACs
• 5 Star ACs

Asia-Pacific Air Conditioners Market Assessment, by End User

• Residential End Users
• Commercial End Users
• Industrial End Users

Asia-Pacific Air Conditioners Market Assessment, by Geography

• China
• Japan
• India
• South Korea
• Australia & New Zealand
• Indonesia
• Thailand
• Malaysia
• Singapore
• Vietnam
• Philippines
• Rest of Asia-Pacific

Key Questions Answered in the Report: