공조 기기 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the air conditioning equipment market size is valued at USD 131.45 billion in 2026 and is projected to reach USD 170.74 billion by 2031, reflecting a 5.37% CAGR.

This report is Segmented by Product Type (Split and Multi-Split Systems, Variable Refrigerant Flow Systems, and More), Technology (Inverter Systems, and Non-Inverter Systems), End-User (Residential, Commercial, and Industrial), Capacity (Up To 10 Tons, 11-18 Tons, and More), Distribution Channel (Direct Sales, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global Air Conditioning Equipment Market Trends and Insights

Escalating Global Temperatures and Extreme-Heat Frequency

Climate records show 2024 as the hottest year to date, and the frequency of heat days above 40 °C is rising sharply in South Asia and the Middle East. Residential penetration is accelerating in tier-2 Indian cities, and hospitals in the Gulf are adding redundant chiller arrays to avert thermal shutdowns. Higher cooling-degree days ensure sustained equipment replacement and capacity additions, keeping the air conditioning equipment market on an upward trajectory. Utilities in heat-stressed regions are also revising peak tariffs, incentivizing building owners to adopt high-efficiency VRF and inverter systems. Long-term climate projections pointing to 20-30% more cooling-degree days by 2040 translate into structural demand rather than cyclical replacement.

Government Energy-Efficiency Standards and Cooling-Appliance Subsidies

SEER2 thresholds in the United States, Ecodesign rules in the European Union, and upgraded GB 21455-2024 requirements in China collectively tighten minimum efficiency baselines. Subsidy programs covering 20-30% of the incremental inverter cost in India and rebate schemes tied to seasonal energy-efficiency ratios in emerging Asia are closing the price gap with fixed-speed models. Manufacturers are rapidly shifting portfolios to inverter compressors, and component suppliers are scaling variable-speed drives, reinforcing the air conditioning equipment market's technology transition. Tightened standards effectively shorten the obsolescence cycle for non-inverter units, creating a pull-through effect for higher-margin products.

Volatile Copper and Semiconductor Prices Squeezing OEM Margins

Copper prices swung between USD 10,200 and USD 9,100 per metric ton in 2024, adding USD 3-8 to component costs per unit and compressing gross margins by up to 180 basis points. Semiconductor lead times for power modules reached 26 weeks, delaying inverter launches. Large players are hedging through vertical integration, exemplified by a Vietnamese copper-tube mill investment, whereas smaller brands without hedging capacity risk negative operating margins. Persistent volatility could dampen price-sensitive demand in emerging markets, limiting near-term growth in the air conditioning equipment market.

Other drivers and restraints analyzed in the detailed report include:

1. Urban High-Rise Construction Surge in Emerging Megacities
2. Edge and Hyperscale Data-Center Expansion Boosting Precision Cooling Demand
3. Kigali Amendment-Driven Accelerated HFC Phase-Down Compliance Costs

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Variable refrigerant flow platforms generated a 6.73% CAGR outlook versus the overall 5.37%, making them the fastest-rising segment within the air conditioning equipment market size for the 2026-2031 window. Split and multi-split units still dominate revenue because single-room cooling prevails in emerging residential settings. Developers of 30-plus-story towers prefer VRF for zone control, energy recovery, and floor-space gains, reinforcing direct-sales relationships.

Expanded utility rebates, heightened energy codes, and falling inverter costs are compressing the price delta between traditional split units and VRF mini-modules. The ability to link up to 64 indoor fan-coils to a single outdoor unit supports high diversity loads in mixed-use floorplates. In parallel, packaged rooftop units advance steady replacement demand in North America's light-commercial sector, while centrifugal and screw chillers (>500 tons) address pharmaceutical warehouses and semiconductor fabs that need sub-degree stability, adding diversity to the air conditioning equipment market.

Inverter compressors secured 68.86% of 2025 shipments and are forecast to rise at a 6.53% clip, further raising their share of the overall air conditioning equipment market share by 2031. Non-inverter models linger in rural and rental stock but shrink annually as subsidy programs shrink incremental cost gaps.

Artificial-intelligence-enabled controllers now analyze weather, tariff windows, and occupancy in real time, trimming bills by another 8-12%. Demand-response integration allows building owners to monetize curtailed load. Fixed-speed systems remain viable in voltage-unstable zones of Africa and Latin America, yet global inverter penetration is projected above 80% by 2030, underpinned by scale economics and policy pressure.

Complete Report Scope:

• By Product Type
  • Split and Multi-Split Systems
  • Variable Refrigerant Flow (VRF) Systems
  • Packaged and Rooftop Units
  • Chillers
• By Technology
  • Inverter Systems
  • Non-Inverter Systems
• By End-User
  • Residential
  • Commercial
  • Industrial
• By Capacity (Tons of Refrigeration)
  • Up to 10 Tons
  • 11 - 18 Tons
  • 19 - 26 Tons
  • Above 26 Tons
• By Distribution Channel
  • Direct Sales
  • Dealer / Retail Stores
  • Online
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa
    • Middle East
      • Saudi Arabia
      • United Arab Emirates
      • Turkey
      • Rest of Middle East
    • Africa
      • South Africa
      • Egypt
      • Nigeria
      • Rest of Africa

Geography Analysis

Asia-Pacific delivered 40.32% of 2025 revenue and is on pace for an 8.43% CAGR, outstripping every other region across the air conditioning equipment market. China's growth moderates as tier-1 saturation rises, but India, Indonesia, and Vietnam continue double-digit installation growth driven by extreme heat and improved grid access. High-rise boom towns in Jakarta and Manila specify large VRF backbones, and Japan's mature stock focuses on premium air-purification features. Australia's commercial sector is retrofitting rooftop units to satisfy 2022 energy-efficiency code updates.

North America and Europe air conditioning equipment market expand 4-5% annually on replacement cycles, heat-pump adoption, and corporate net-zero targets. U.S. residential split-system shipments topped 8.2 million in 2024, while the Inflation Reduction Act continues to underwrite heat-pump retrofits. The European Union's near-zero-energy mandate for non-residential buildings by 2030 pushes VRF upgrades in Germany, France, and the United Kingdom.

The Middle East and Africa register 6-7% growth. District-cooling networks in Dubai and Riyadh anchor large-capacity chiller demand, while off-grid solar splits penetrate power-deficient communities in Sub-Saharan Africa. South American markets grow 5-6%, led by Brazilian residential demand and Argentine commercial retrofits following electricity-subsidy phaseouts. Altogether, regional dynamics reinforce the diversified growth profile of the air conditioning equipment market.

1. Daikin Industries Ltd.
2. Gree Electric Appliances Inc. of Zhuhai
3. Midea Group Co., Ltd.
4. Carrier Global Corporation
5. Trane Technologies plc
6. Johnson Controls International plc
7. Mitsubishi Electric Corporation
8. LG Electronics Inc.
9. Samsung Electronics Co., Ltd.
10. Haier Smart Home Co., Ltd.
11. Panasonic Holdings Corporation
12. Lennox International Inc.
13. Fujitsu General Ltd.
14. Toshiba Carrier Corporation
15. Hitachi-Johnson Controls Air Conditioning, Inc.
16. Rheem Manufacturing Company
17. Bosch Thermotechnology GmbH
18. Hisense International Co., Ltd.
19. AUX Group Co., Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Escalating Global Temperatures and Extreme-Heat Frequency
  • 4.2.2 Government Energy-Efficiency Standards and Cooling-Appliance Subsidies
  • 4.2.3 Urban High-Rise Construction Surge in Emerging Megacities
  • 4.2.4 Edge and Hyperscale Data-Center Expansion Boosting Precision Cooling Demand
  • 4.2.5 AI-Enabled Predictive-Maintenance Contracts Lowering Lifecycle Costs
  • 4.2.6 Growing Demand for Off-Grid Solar-Powered Split AC Units in Power-Deficit Regions
• 4.3 Market Restraints
  • 4.3.1 Volatile Copper and Semiconductor Prices Squeezing OEM Margins
  • 4.3.2 Kigali Amendment-Driven Accelerated HFC Phase-Down Compliance Costs
  • 4.3.3 Chronic Shortage of Certified HVAC Technicians for Inverter and VRF Systems
  • 4.3.4 Grid Decarbonization Policies Favoring Passive and District-Cooling Alternatives
• 4.4 Industry Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces Analysis
  • 4.7.1 Bargaining Power of Suppliers
  • 4.7.2 Bargaining Power of Buyers
  • 4.7.3 Threat of New Entrants
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Intensity of Competitive Rivalry
• 4.8 Impact of Macroeconomic Factors on the Market

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Product Type
  • 5.1.1 Split and Multi-Split Systems
  • 5.1.2 Variable Refrigerant Flow (VRF) Systems
  • 5.1.3 Packaged and Rooftop Units
  • 5.1.4 Chillers
• 5.2 By Technology
  • 5.2.1 Inverter Systems
  • 5.2.2 Non-Inverter Systems
• 5.3 By End-User
  • 5.3.1 Residential
  • 5.3.2 Commercial
  • 5.3.3 Industrial
• 5.4 By Capacity (Tons of Refrigeration)
  • 5.4.1 Up to 10 Tons
  • 5.4.2 11 - 18 Tons
  • 5.4.3 19 - 26 Tons
  • 5.4.4 Above 26 Tons
• 5.5 By Distribution Channel
  • 5.5.1 Direct Sales
  • 5.5.2 Dealer / Retail Stores
  • 5.5.3 Online
• 5.6 By Geography
  • 5.6.1 North America
    • 5.6.1.1 United States
    • 5.6.1.2 Canada
    • 5.6.1.3 Mexico
  • 5.6.2 South America
    • 5.6.2.1 Brazil
    • 5.6.2.2 Argentina
    • 5.6.2.3 Rest of South America
  • 5.6.3 Europe
    • 5.6.3.1 Germany
    • 5.6.3.2 France
    • 5.6.3.3 United Kingdom
    • 5.6.3.4 Italy
    • 5.6.3.5 Spain
    • 5.6.3.6 Rest of Europe
  • 5.6.4 Asia-Pacific
    • 5.6.4.1 China
    • 5.6.4.2 Japan
    • 5.6.4.3 India
    • 5.6.4.4 South Korea
    • 5.6.4.5 Australia
    • 5.6.4.6 Rest of Asia-Pacific
  • 5.6.5 Middle East and Africa
    • 5.6.5.1 Middle East
      • 5.6.5.1.1 Saudi Arabia
      • 5.6.5.1.2 United Arab Emirates
      • 5.6.5.1.3 Turkey
      • 5.6.5.1.4 Rest of Middle East
    • 5.6.5.2 Africa
      • 5.6.5.2.1 South Africa
      • 5.6.5.2.2 Egypt
      • 5.6.5.2.3 Nigeria
      • 5.6.5.2.4 Rest of Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as Available, Strategic Information, Market Rank/Share for Key Companies, Products and Services, and Recent Developments)
  • 6.4.1 Daikin Industries Ltd.
  • 6.4.2 Gree Electric Appliances Inc. of Zhuhai
  • 6.4.3 Midea Group Co., Ltd.
  • 6.4.4 Carrier Global Corporation
  • 6.4.5 Trane Technologies plc
  • 6.4.6 Johnson Controls International plc
  • 6.4.7 Mitsubishi Electric Corporation
  • 6.4.8 LG Electronics Inc.
  • 6.4.9 Samsung Electronics Co., Ltd.
  • 6.4.10 Haier Smart Home Co., Ltd.
  • 6.4.11 Panasonic Holdings Corporation
  • 6.4.12 Lennox International Inc.
  • 6.4.13 Fujitsu General Ltd.
  • 6.4.14 Toshiba Carrier Corporation
  • 6.4.15 Hitachi-Johnson Controls Air Conditioning, Inc.
  • 6.4.16 Rheem Manufacturing Company
  • 6.4.17 Bosch Thermotechnology GmbH
  • 6.4.18 Hisense International Co., Ltd.
  • 6.4.19 AUX Group Co., Ltd.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment