Hybrid Air Conditioner Market size to record USD 5.13 Bn growth

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18 Apr, 2022, 22:30 ET

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NEW YORK, April 18, 2022 /PRNewswire/ -- The global hybrid air conditioner market size is expected to increase by USD 5.13 billion between 2021 and 2026. The market is expected to observe a YOY growth of 8.78% in 2022 and the growth momentum is anticipated to accelerate at a CAGR of 10.08% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.

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The global hybrid air conditioner market is fragmented due to the presence of leading global, regional, and domestic players. Vendors are investing significantly in building infrastructure suitable for manufacturing hybrid air conditioners and emphasize building brand and brand equity to differentiate themselves from competing brands. Vendors are also strategizing their product advertisements to attract consumers by highlighting the features and advantages of newly launched products.

Technavio identifies Arka Technologies Ltd., Aussie Solar World Pty Ltd., Carrier Global Corp., Changzhou SuperEn New Energy Technology Co. Ltd., Daikin Industries Ltd., Event Horizon Solar and Wind Inc., Gree Electric Appliances Inc. of Zhuhai, Harvest Eco Solutions Ltd., HotSpot Energy Inc., Lennox International Inc., MIDEA Group Co. Ltd., NingBo Deye Inverter Technology Co. Ltd., Onyx, and Solair World International Pte Ltd. as some of the major market participants.

Product innovation leading to portfolio extension and product premiumization will be crucial in driving the growth of the market. In addition, the growth in residential construction activities and the high efficiency of hybrid air conditioners compared with conventional air conditioners will offer immense growth opportunities for market players. However, the volatility in operational costs and raw material prices, long product lifecycle, and stringent government standards and regulations will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Hybrid Air Conditioner Market 2022-2026: Segmentation

The global hybrid air conditioner market is segmented as below:

The hybrid solar air conditioner segment generated maximum revenue in the market in 2021. The segment is driven by the increasing demand for dual technology air conditioners. The market growth in the segment will be significant during the forecast period.

Similarly, APAC will have the largest share of the market. The region currently holds 43% of the global market share. The growth of the regional market is driven by factors such as growing urbanization, infrastructure development, and government incentives and support in developing countries in APAC to install solar panels.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our hybrid air conditioner market report covers the following areas:

Hybrid Air Conditioner Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the hybrid air conditioner market. Backed with competitive intelligence and benchmarking, our research report on the hybrid air conditioner market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Hybrid Air Conditioner Market 2022-2026: Key Highlights

Related Reports:

Commercial Air Conditioner Market by Product and Geography - Forecast and Analysis 2022-2026

Portable Air-conditioner Market by End-user, Distribution Channel, and Geography - Forecast and Analysis 2022-2026

Hybrid Air Conditioner Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.08%

Market growth 2022-2026

USD 5.13 billion

Market structure

Fragmented

YoY growth (%)

8.78

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Arka Technologies Ltd., Aussie Solar World Pty Ltd., Carrier Global Corp., Changzhou SuperEn New Energy Technology Co. Ltd., Daikin Industries Ltd., Event Horizon Solar and Wind Inc., Gree Electric Appliances Inc. of Zhuhai, Harvest Eco Solutions Ltd., HotSpot Energy Inc., Lennox International Inc., MIDEA Group Co. Ltd., NingBo Deye Inverter Technology Co. Ltd., Onyx, and Solair World International Pte Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio