After the publication of several air conditioning market reports in the last few months (September 2020 update, European and US in-depth reports and Regional European study), BSRIA successfully completed its analysis on the World Air Conditioning markets - taking the impact of coronavirus in different parts of the world into consideration, in March 2021.
The pandemic created an enormous economic downturn worldwide, which has been felt at every level of the heating, ventilation, and air conditioning (HVAC) industry. The commercial sector was hit particularly hard in every part of the world, customer demand has changed, and operation and planning among HVAC manufacturers and distributors have changed. On the positive side, following evolving customer behaviour and needs, new opportunities, technologies, and approaches have been created.
In 2020, the global market is estimated at around 150 million units with a corresponding value of more than USD 100 billion. This represents a notable decline in terms of volume and value compared to 2019.