About Solar Air Conditioning
Solar air conditioner also known as solar cooling which utilises solar power for cooling. This can be done through photovoltaic conversion, solar thermal energy conversion and passive solar building design. Solar air conditioner system are used in commercial, Residential and industrial spaces as to reduce electricity cost. The demand for solar air conditioning is expected to rise in the forecasted period with rising rise in temperature in various regions around the globe and changing lifestyles with high comfort level among people.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Solar Air Conditioning is a fragmented market due to the presence of several regional and international players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Solar Air Conditioning market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lennox (United States), Aussie Solar World (Australia), ICESolair (Australia), Videocon (India), HotSpot Energy (United States), Solair World International (Singapore), Gree (China), Midea(China) and Haier (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zinniatek (Denmark), Light Quantum Energy Holdings (India), FTC Solar (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Solar Air Conditioning market by Type (Split Solar Air Conditioner, Cassette Solar Air Conditioner, Window Solar Air Conditioner and Floor Standing Solar Air Conditioner), Application (Residential Building, Commercial Building and Industrial Building) and Region.
On the basis of geography, the market of Solar Air Conditioning has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Source, the sub-segment i.e. Hybrid Solar A/C will boost the Solar Air Conditioning market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. 1 Ton will boost the Solar Air Conditioning market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Residential will boost the Solar Air Conditioning market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in Technology of Solar Air Conditioning System with Continual Up gradation Of Energy Conversion and Storage Systems
Market Growth Drivers:
High Demand of Solar Air Conditioning Systems Is Increasing Due To Changing Lifestyle and Preference for High Comfort among People, Lesser Operational Cost In Comparison With Conventional Air Conditioning Systems and Government Support and Initiatives for Promoting Usage of Solar Energy In Order To Reduce Carbon Emission
Challenges:
Cost Optimization of Solar Air Conditioning System
Restraints:
Higher Installation cost and Maintenance Cost of Solar Air Conditioning System and Lack of Awareness Regarding Benefits of Solar Air Conditioning in Developing Countries
Opportunities:
Synchronization of Solar Air Conditioning System with Solar Panel and Subsystems
Market Leaders and their expansionary development strategies
In October 2023, Lennox acquired AES to expand commercial HVAC services. Lennox, a leader in energy-efficient climate-control solutions, announced it has completed the acquisition of AES, a company dedicated to service and sustainability in the light commercial market.
In July 2023, Solar AC help towards affordable & clean energy for the next generation, innovative solar-based air conditioning systems provide a viable alternative for cost-effective and sustainable energy. Because of their infamously high energy consumption, conventional air conditioners not only increase greenhouse gas emissions but also the effects of climate change.
Key Target Audience
Government and research organizations, Solar Air Conditioner manufacturers, Maintenance and service providers, Original equipment manufacturers, Research organizations and consulting companies, System integrators, Technology investors, Technology standard organizations, forums, alliances, and associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.