Solar Air Conditioning Market Synopsis:
Solar Air Conditioning Market Size Was Valued at USD 544.5 Million in 2023, and is Projected to Reach USD 742.10 Million by 2032, Growing at a CAGR of 3.5 % From 2024-2032.
Solar Air Conditioning Market is all about air conditioning systems that utilize solar power to provide energy efficient means to cool a building. These systems use photovoltaic (PV) panels or solar thermal energy in their functioning thus minimizing the use electricity and conservation of the environment.
The Solar Air Conditioning Market is growing rapidly hiked by the growing consciousness level towards energy savings and the use of renewable energy resource. The hike in tariff and emissions control legislation have prompted users and producers alike to seek the use of electricity from sun power. The technological evolution in the field of solar is steadily seeing solar air conditioners becoming cheaper and more effective for more consumer bases.
The governments across the globe are supporting renewable energy sources through subsidies, tax exemptions and incentives and thus fueling the solar air conditioners market rapidly. Moreover, adoption of smart technologies with IoT control and real time monitoring in solar air conditioning system has further more benefit of energy management and operational efficiency.
Solar Air Conditioning Market Trend Analysis:
Growing Demand for Hybrid Solar Air Conditioners
- There have been continuing developments on the market that have been seen to be growing for some time now and one of them is the hybrid solar air conditioners. These systems have integrated the photovoltaic with other electrical systems to guarantee performance during low light conditions. Hybrid system is the viable for the areas when weather is changeable: the appliance cools spaces evenly and saves energy.
Expanding Urbanization in Emerging Economies
- Solar Air Conditioning Market has a great growth potential due to the high growth rate of urbanization within the emerging economies. With developing urban infrastructure, the need for housing and business cooling increases. In parallel with the growth of the technological accessibility of solar solutions and the support from governments, the role of developing markets is also expected to rise significantly.
Solar Air Conditioning Market Segment Analysis:
Solar Air Conditioning Market Is Segmented on The Basis of Product Type, End User, And Region.
By Product Type, Split Air Conditioner segment is expected to dominate the market during the forecast period
- The building type Split Air Conditioner segment is anticipated to hold the largest market share throughout the Solar Air Conditioning Market, during the forecast period. These systems are known to cool with greater efficiency than other types of systems besides being more flexible and energy saving. Single-split solar air conditioners are the most popular due to the compatibility of the technology with existing solar systems besides being cheaper to run.
By End User, Residential segment expected to held the largest share
- Among the Segments we have forecasted that the Residential segment will remain the largest market share with homeowners coming to embrace more energy efficient solutions. Increase in price of electrical energy and cost friendly grants for installation of solar systems has boosted the use of solar air conditioning systems in dwelling places. The possibility to connect solar air conditioning systems with smart home technologies also adds into their benefits for the present-day homes.
Solar Air Conditioning Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America region is anticipated to dominate the Solar Air Conditioning Market because of the increased interest in the use of renewable energy technologies and environmental consciousness. Subsidies and tax credit have been provided by the United States and Canada to promote and subsidize uses of solar energy. These measures have greatly assisted in increasing the use of solar air conditioning systems throughout the region.
- Also, the increasing impact of climate change has made both the housing and business segments of the North American market seek more effective cooling solutions. The region boasts of an enviable facilities base and is moving progressively toward the adoption of green technologies, making solar air conditioning a haven for the product.
Active Key Players in the Solar Air Conditioning Market:
- Airedale International Air Conditioning Ltd. (United Kingdom)
- Daikin Industries, Ltd. (Japan)
- Emmvee Solar Systems Pvt. Ltd. (India)
- Fujitsu General Limited (Japan)
- Gree Electric Appliances Inc. (China)
- Guangdong Chigo Air Conditioning Co., Ltd. (China)
- Hitachi Ltd. (Japan)
- LG Electronics Inc. (South Korea)
- Lennox International Inc. (United States)
- Panasonic Corporation (Japan)
- Rheem Manufacturing Company (United States)
- Samsung Electronics Co., Ltd. (South Korea)
- Trane Technologies plc (Ireland)
- Voltas Limited (India)
- Whirlpool Corporation (United States), and Other Active Players.
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Global Solar Air Conditioning Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 544.5 Million |
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Forecast Period 2024-32 CAGR: |
3.5 % |
Market Size in 2032: |
USD 742.10 Million |
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Segments Covered: |
By Type |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Solar Air Conditioning Market by By Type (2018-2032)
4.1 Solar Air Conditioning Market Snapshot and Growth Engine
4.2 Market Overview
4.3 Split Solar A/C
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
4.3.3 Key Market Trends, Growth Factors, and Opportunities
4.3.4 Geographic Segmentation Analysis
4.4 Window Solar A/C
4.5 Cassette Solar A/C
4.6 Floor Standing Solar A/C
Chapter 5: Solar Air Conditioning Market by By End User (2018-2032)
5.1 Solar Air Conditioning Market Snapshot and Growth Engine
5.2 Market Overview
5.3 Residential
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units
5.3.3 Key Market Trends, Growth Factors, and Opportunities
5.3.4 Geographic Segmentation Analysis
5.4 Commercial
5.5 Industrial
Chapter 6: Company Profiles and Competitive Analysis
6.1 Competitive Landscape
6.1.1 Competitive Benchmarking
6.1.2 Solar Air Conditioning Market Share by Manufacturer (2024)
6.1.3 Industry BCG Matrix
6.1.4 Heat Map Analysis
6.1.5 Mergers and Acquisitions
6.2 BORAL LIMITED (AUSTRALIA)
6.2.1 Company Overview
6.2.2 Key Executives
6.2.3 Company Snapshot
6.2.4 Role of the Company in the Market
6.2.5 Sustainability and Social Responsibility
6.2.6 Operating Business Segments
6.2.7 Product Portfolio
6.2.8 Business Performance
6.2.9 Key Strategic Moves and Recent Developments
6.2.10 SWOT Analysis
6.3 CEMEX S.A.B. DE C.V. (MEXICO)
6.4 CRH PLC (IRELAND)
6.5 ELKEM ASA (NORWAY)
6.6 FLYASHDIRECT (UNITED STATES)
6.7 HANSON UK (UNITED KINGDOM)
6.8 HOLCIM LTD (SWITZERLAND)
6.9 LAFARGEHOLCIM (SWITZERLAND)
6.10 MITSUBISHI MATERIALS CORPORATION (JAPAN)
6.11 NIPPON STEEL & SUMITOMO METAL CORPORATION (JAPAN)
6.12 SCB INTERNATIONAL MATERIALS (UNITED STATES)
6.13 SALT RIVER MATERIALS GROUP (UNITED STATES)
6.14 TATA STEEL (INDIA)
6.15 ULTRATECH CEMENT LIMITED (INDIA)
6.16 VICEM CEMENT (VIETNAM)
6.17 OTHER ACTIVE PLAYERS
Chapter 7: Global Solar Air Conditioning Market By Region
7.1 Overview
7.2. North America Solar Air Conditioning Market
7.2.1 Key Market Trends, Growth Factors and Opportunities
7.2.2 Top Key Companies
7.2.3 Historic and Forecasted Market Size by Segments
7.2.4 Historic and Forecasted Market Size By By Type
7.2.4.1 Split Solar A/C
7.2.4.2 Window Solar A/C
7.2.4.3 Cassette Solar A/C
7.2.4.4 Floor Standing Solar A/C
7.2.5 Historic and Forecasted Market Size By By End User
7.2.5.1 Residential
7.2.5.2 Commercial
7.2.5.3 Industrial
7.2.6 Historic and Forecast Market Size by Country
7.2.6.1 US
7.2.6.2 Canada
7.2.6.3 Mexico
7.3. Eastern Europe Solar Air Conditioning Market
7.3.1 Key Market Trends, Growth Factors and Opportunities
7.3.2 Top Key Companies
7.3.3 Historic and Forecasted Market Size by Segments
7.3.4 Historic and Forecasted Market Size By By Type
7.3.4.1 Split Solar A/C
7.3.4.2 Window Solar A/C
7.3.4.3 Cassette Solar A/C
7.3.4.4 Floor Standing Solar A/C
7.3.5 Historic and Forecasted Market Size By By End User
7.3.5.1 Residential
7.3.5.2 Commercial
7.3.5.3 Industrial
7.3.6 Historic and Forecast Market Size by Country
7.3.6.1 Russia
7.3.6.2 Bulgaria
7.3.6.3 The Czech Republic
7.3.6.4 Hungary
7.3.6.5 Poland
7.3.6.6 Romania
7.3.6.7 Rest of Eastern Europe
7.4. Western Europe Solar Air Conditioning Market
7.4.1 Key Market Trends, Growth Factors and Opportunities
7.4.2 Top Key Companies
7.4.3 Historic and Forecasted Market Size by Segments
7.4.4 Historic and Forecasted Market Size By By Type
7.4.4.1 Split Solar A/C
7.4.4.2 Window Solar A/C
7.4.4.3 Cassette Solar A/C
7.4.4.4 Floor Standing Solar A/C
7.4.5 Historic and Forecasted Market Size By By End User
7.4.5.1 Residential
7.4.5.2 Commercial
7.4.5.3 Industrial
7.4.6 Historic and Forecast Market Size by Country
7.4.6.1 Germany
7.4.6.2 UK
7.4.6.3 France
7.4.6.4 The Netherlands
7.4.6.5 Italy
7.4.6.6 Spain
7.4.6.7 Rest of Western Europe
7.5. Asia Pacific Solar Air Conditioning Market
7.5.1 Key Market Trends, Growth Factors and Opportunities
7.5.2 Top Key Companies
7.5.3 Historic and Forecasted Market Size by Segments
7.5.4 Historic and Forecasted Market Size By By Type
7.5.4.1 Split Solar A/C
7.5.4.2 Window Solar A/C
7.5.4.3 Cassette Solar A/C
7.5.4.4 Floor Standing Solar A/C
7.5.5 Historic and Forecasted Market Size By By End User
7.5.5.1 Residential
7.5.5.2 Commercial
7.5.5.3 Industrial
7.5.6 Historic and Forecast Market Size by Country
7.5.6.1 China
7.5.6.2 India
7.5.6.3 Japan
7.5.6.4 South Korea
7.5.6.5 Malaysia
7.5.6.6 Thailand
7.5.6.7 Vietnam
7.5.6.8 The Philippines
7.5.6.9 Australia
7.5.6.10 New Zealand
7.5.6.11 Rest of APAC
7.6. Middle East & Africa Solar Air Conditioning Market
7.6.1 Key Market Trends, Growth Factors and Opportunities
7.6.2 Top Key Companies
7.6.3 Historic and Forecasted Market Size by Segments
7.6.4 Historic and Forecasted Market Size By By Type
7.6.4.1 Split Solar A/C
7.6.4.2 Window Solar A/C
7.6.4.3 Cassette Solar A/C
7.6.4.4 Floor Standing Solar A/C
7.6.5 Historic and Forecasted Market Size By By End User
7.6.5.1 Residential
7.6.5.2 Commercial
7.6.5.3 Industrial
7.6.6 Historic and Forecast Market Size by Country
7.6.6.1 Turkiye
7.6.6.2 Bahrain
7.6.6.3 Kuwait
7.6.6.4 Saudi Arabia
7.6.6.5 Qatar
7.6.6.6 UAE
7.6.6.7 Israel
7.6.6.8 South Africa
7.7. South America Solar Air Conditioning Market
7.7.1 Key Market Trends, Growth Factors and Opportunities
7.7.2 Top Key Companies
7.7.3 Historic and Forecasted Market Size by Segments
7.7.4 Historic and Forecasted Market Size By By Type
7.7.4.1 Split Solar A/C
7.7.4.2 Window Solar A/C
7.7.4.3 Cassette Solar A/C
7.7.4.4 Floor Standing Solar A/C
7.7.5 Historic and Forecasted Market Size By By End User
7.7.5.1 Residential
7.7.5.2 Commercial
7.7.5.3 Industrial
7.7.6 Historic and Forecast Market Size by Country
7.7.6.1 Brazil
7.7.6.2 Argentina
7.7.6.3 Rest of SA
Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies
Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research
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Global Solar Air Conditioning Market |
|||
|
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
|
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 544.5 Million |
|
Forecast Period 2024-32 CAGR: |
3.5 % |
Market Size in 2032: |
USD 742.10 Million |
|
Segments Covered: |
By Type |
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By End User |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Solar Air Conditioning Market research report is 2024-2032.
Daikin Industries, Gree Electric Appliances, Panasonic Corporation, Trane Technologies, LG Electronics, and Other Active Players.
The Solar Air Conditioning Market is segmented into Product Type, End User and region. By Product type, the market is categorized into Split Solar A/C Window Solar A/C Cassette Solar A/C Floor Standing Solar A/CBy By End User, the market is categorized into Residential Commercial Industrial. By region, it is analyzed across North America (U.S., Canada, Mexico), Eastern Europe (Russia, Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe), Western Europe (Germany, UK, France, The Netherlands, Italy, Spain, Rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC), Middle East & Africa (Turkiye, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa), South America (Brazil, Argentina, Rest of SA).
Solar Air Conditioning Market is all about air conditioning systems that utilize solar power to provide energy efficient means to cool a building. These systems use photovoltaic (PV) panels or solar thermal energy in their functioning thus minimizing the use electricity and conservation of the environment.
Solar Air Conditioning Market Size Was Valued at USD 544.5 Million in 2023, and is Projected to Reach USD 742.10 Million by 2032, Growing at a CAGR of 3.5 % From 2024-2032.
