According to a recent article in The Air Conditioning/Heating/Refrigeration News that focused on the Air Conditioning Growth Industry, the research firm of Companies & Markets has released a study that estimates the global air conditioning market will grow at a compound annual growth rate of 18.5% through 2015. Although there was a temporary disruption in the growth due to the recent economic recession, the key factors contributing to this expected growth within the industry include the increased need for energy efficient air conditioners and the development of inverter-based air conditioners.
Another major factor in the increase is the rapidly growing replacement need, especially in mature markets such as the U.S. and Europe. This is due to the growing focus on energy conservation and the demand for replacing old air conditioning systems with new energy-efficient models. This growth has increased the competition among air conditioning vendors and has lead to a decrease in the overall price of air conditioners, which is good news for the consumer.