Global Solar Air Conditioning Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Solar Air Conditioning Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global solar air conditioning market report has been segmented on the basis of product type, power source, end user, and region.

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Global Solar Air Conditioning Market: Overview

Solar air conditioning is an air conditioning systems that uses solar power to provide air conditioning effects. Solar air conditioning emits conditioned air through a thermally driven refrigeration process by using passive solar thermal energy. These systems are used in residential, commercial, and industrial spaces in order to reduce electricity cost. Increasing demand for solar air conditioning systems, owing to increasing global temperature in the recent past.

Global Solar Air Conditioning Market: Dynamics

Increasing government initiatives in order to improve the share of solar energy in power consumption, changing lifestyle, and increasing comfort among people are some major factors expected to drive growth of the global market over the forecast period.

In addition, rising adoption of solar air conditioning system, owing to increasing impact of greenhouse gases on global warming is another factor expected to further fuel growth of the target market over the forecast period.

Moreover, rising electricity rates and increasing need to reduce energy consumption, which in turn is expected to boost growth of the target market over the forecast period.

Furthermore, several benefits offered by solar air conditioning systems such as low operational cost and low maintenance over conventional air conditioning systems is another factor expected to support growth of the global market over the forecast period.

However, high initial set up cost of solar air conditioning system including installation barriers and solar panels is expected to restrain growth of the global market over the forecast period.

Technological development and innovative product launches are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Solar Air Conditioning Market: Segment Analysis

Among the end user segments, the industrial segment is expected to register significant growth in the target market over the forecast period, owing to increasing demand for solar air conditioning systems across small and medium sized enterprises (SMEs) such as IT & Telecom, ITES and BPO, Manufacturing, and Retail.

Global Solar Air Conditioning Market: Regional Analysis

The market in Asia Pacific is expected to dominate in the global solar air conditioning market in terms of revenue over the forecast period, owing to increasing disposable income, rapidly developing economies, and rising demand for solar air conditioning systems across small & medium sized enterprises across various countries in this region.

The market in North America is expected to account for fastest growth in terms of revenue in the target market over the forecast period, owing to early adoption of solar technology across various countries in this region. In addition, increasing construction activities such as malls, industrial areas, and corporate offices across various countries in the region is another actor expected to support growth of the target market in this region.

The market in Europe is expected to register significant growth in terms of revenue over the forecast period, owing to increasing initiatives from regulatory bodies across various countries in order to retain energy consumption and replacement of existing equipment with energy efficient products.

Global Solar Air Conditioning Market Segmentation:

Segmentation by product type:

Split Solar A/C
Window Solar A/C
Cassette Solar A/C
Floor Standing Solar A/C

Segmentation by power source:

Hybrid Solar A/C
100% Grid off A/C

Segmentation by end user:

Residential
Commercial
Industrial