SOLAR AIR CONDITIONING MARKET ANALYSIS
Solar Air Conditioning Market, by Power Source (Hybrid Solar A/C and 100% Grid off A/C), by Product Type (Split Solar A/C, Window Solar A/C, Cassette Solar A/C, and Floor Standing Solar A/C), by Capacity ( 1 Ton, 1.5 Ton, and 2 Ton and Above), by End User (Residential, Commercial, and Industrial), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Press Release
The adoption of solar air conditioning systems is increasing significantly as these systems offer several benefits such as low operational cost and low maintenance over conventional air conditioning systems. Air conditioning in any organization accounts for 30-35% of electricity usage, which has led to increasing preference for solar air conditioning systems in various organizations to reduce electricity cost. Use of Solar air-conditioning is a way to reduce the demand for electricity. Nowadays constructions of many solar air-conditioning systems today are built in such a way that CFC, HCFC or HFC refrigerants are not used to reduce the emissions of carbon, sulphur, and nitrogen dioxide. Therefore will result in increase in demand for solar air conditioning system.
Market Dynamics
The demand for solar air conditioning systems is increasing due to growing population and disposable income. For instance according to 2017 United Nations report, world’s population is expected to reach 8.6 billion in 2030 from 7.6 billion in 2017. Solar air conditioning system uses renewable energy source and produces very few greenhouse gases, which is expected to reduce harmful carbon emissions. Use of solar energy also reduces demand for electric grids that rely on fossils fuels. These factors are expected to boost growth of the solar air conditioning market over the forecast period. Rise of electricity rates and the need to reduce energy consumption, has indirectly boosted a steady increase in the demand for and use of solar air conditioning system.
However, high initial cost to setup solar air conditioning system, which include installation of high cost batteries and solar panels, serves as a major restraining factor for growth of the market.
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Key features of the study:
- This report provides in-depth analysis of the solar air conditioning market size (US$ Billion), and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key market players
- It profiles key players in the global solar air conditioning market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, solar air conditioning market capital, key developments, strategies, and future plans
- Companies covered as part of this study include, Lennox, Videocon, Harvest Air Conditioner, HotSpot Energy Inc., Aussie Solar World, Solair World International, Icesolair, Gree, Midea Group Onyx Solar ac, and others
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
- The global solar air conditioning market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global solar air conditioning market
Detailed Segmentation
- Global Solar Air Conditioning Market, By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- Global Solar Air Conditioning Market, By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- Global Solar Air Conditioning Market, By Capacity:
- 1 Ton
- 1.5 Ton
- 2 Ton and Above
- Global Solar Air Conditioning Market, By End User:
- Residential
- Commercial
- Industrial
- Global Solar Air Conditioning Market, By Geography:
- North America
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- U.S.
- Canada
- Europe
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Power Source:
- Hybrid Solar A/C
- 100% Grid off A/C
- By Product Type:
- Split Solar A/C
- Window Solar A/C
- Cassette Solar A/C
- Floor Standing Solar A/C
- By Capacity:
- 1 Ton
- 5 Ton
- 2 Ton and Above
- By End User:
- Residential
- Commercial
- Industrial
- By Country:
- North Africa
- Central Africa
- South Africa
- Company Profiles
- Lennox
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/ Updates
- Videocon
- Harvest Air Conditioner
- HotSpot Energy Inc.
- Aussie Solar World
- Solair World International
- Icesolair
- Gree
- Midea Group
- Onyx Solar ac
“*” marked represents similar segmentation in other categories in the respective section.
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