An air conditioner comes with three different components, namely evaporator, condenser, and compressor. The refrigerant that moves inside the air conditioning system is considered the core of the air conditioning system. In the whole process of cooling, the compressor takes in the most amount of electricity for the purpose of heating and compressing the refrigerant.
With so high consumption of electricity and steep rise in the electricity bills, the demand of solar air conditioning system is bound to rise. The global solar air conditioning market is estimated to gather momentum from the demand for more convenience and comfort in day to day life. In addition, drastic change in the lifestyle of people is likely to propel growth of the global solar air conditioning market over the assessment period.
Apart from that, rise in the number of government initiatives such as tax benefits are provided for the promotion of solar energy as the main source of energy is likely to add further impetus to the global solar air conditioning market over the period of forecast.
Solar air conditioning units come in two different variants:
- Hybrids – This type of solar air conditioning system makes a combination of photovoltaic technology with direct current. It automatically makes a switch between battery and solar power as and when needed. When it is set to hybrid mode, these air conditioning systems charge their batteries in the presence of sunlight. When it is not charging in the sun, the system operates on the battery backup and charges its batteries with alternating current power.
- Chillers – These also go by the name of evaporative coolers. They work by cooling and heating water through condensation and evaporation. By lowing over water-saturated material, chillers cool the air. Solar energy is utilized to power the motor and the fan.
Asia Pacific is estimated to account for a leading position in the global solar air conditioning market throughout the tenure of forecast. Such market dominance is owing to the rapid rise in the disposable income of the people with inclination to spend on premium products.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.