Persistence Market Research
Air Conditioning Tools Market: Introduction
Air conditioning tools are equipment utilized for the purpose of maintaining, inspecting and testing the functioning of air condition systems. Air conditioning systems need maintenance, either when they start underperforming or after fixed intervals of time. Air conditioning tools are used to service or replace parts and gas kits in these systems for their safety and to avoid any major damage. Air conditioning tools help ensure safety, reliability and longevity of air conditioning systems. In the current market scenario, owing to rapid advancements and demand for air conditioning systems from domestic to commercial sectors, the air conditioning tools market is on the rise and is expected to grow in the upcoming years. Air conditioning tools include vacuum gauges, leak detectors, hand tools, refrigerant detectors and UV detection tools.
The demand for high performance and luxury cars accelerates the air conditioning systems market growth and the need to maintain them necessitates air conditioning tools which in turn is expected to drive market growth over the forecast period.
Air Conditioning Tools Market: Dynamics
Introduction of new technology, advancement of tools and high expectations placed on the superior performance of air conditioning systems have put an onus on the development of air conditioning tools, resulting in positive growth of the said market. Increase in frequency of maintenance of air conditioning systems is another key factor contributing to growth of the global air conditioning tools market. Also, growth in disposable income of the middle class segment has led to an improvement in the sales of air conditioning systems from the perspective of residential usage, thereby increasing their use and hence, driving the market.
Growing number of service centers, luxury vehicles and increasing awareness in response to controlling environmental conditions are expected to fuel growth of the air conditioning tools market. Further, modernization in housing standards and the launch of luxurious commercial complexes and malls are fueling the demand for air conditioning systems and their maintenance, which consequently leads to growth of the air conditioning tools market.
On the other hand, the relatively high cost of maintaining such heavy duty air conditioning systems and the need for skilled technicians are some restraints negatively affecting growth of the air conditioning tools market. Moreover, complexity of air conditioning systems, such as air conditioning sealers, recognition and handling of refrigerant blends and compressor oil selection are difficult to inspect for a non-skilled technician, which is another factor hampering growth of the air conditioning tools market.
Air Conditioning Tools Market: Segmentation
Air conditioning tools market can be segmented on the basis of products and sales channels.
On the basis of products, it can be segmented as:
On the basis of sales channel, it can be segmented as:
Air Conditioning Tools Market: Regional Overview
Among all regions, Asia Pacific is expected to spearhead growth throughout the forecast period. According to the Japan Refrigeration and Air Conditioning Industry Association (JRAIA), the APAC air conditioning tools market is projected for significant growth, owing to infrastructural development, varying weather conditions and high disposable income. North America and Europe are next in line to witness significant growth, followed by the Middle East & Africa region. Growth in the latter is largely due to extreme weather conditions, technological development as well as swelling demand from end user sectors.
Air Conditioning Tools Market: Market participants
Examples of some of the market participants in the global air conditioning tools market identified across the value chain include:
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