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In 2011, the world market for air conditioning was valued at US$88.2 billion up 13% compared with US$78 billion in 2010, evidence that the global AC market is continuing to recover lost ground since the downturn in 2009.
Asia Pacific is still the largest world region in terms of air conditioning sales with US$48.2 billion or close to 55% of the world market in 2011. Within the region, China and Japan represent the biggest markets, with 83% by value of the market.
Apart from the sales, Asia represents the major production hub with around 70% of the world's air conditioners were produced in China in 2011.
The Americas and European regions were the worst affected by the economic crisis in 2009; America has started to slowly recover- stronger growth is witnessed in Brazil. Europe is struggling to recover from the Euro crisis, though sales of all splits were up in 2011. Chiller sales are down though there is an increasing AHU market. This is due to EU building regulations stipulating the need for air tight buildings. This has led the need for more ventilation and hence the need for small standardised AHU products to be installed in new and major refurbishment projects. Sales of AHU with heat recovery are also increasing.
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