Rise in understanding among people and enterprises from around the world on increasing environmental concerns is encouraging them to take initiatives in order to save the electricity. Hence, the demand for energy-efficient devices is rising, which in turn, is leading to revenue-generation opportunities in the global solar air conditioning market. In addition, the market for solar air conditioning is prognosticated to gain sizable demand prospects owing to increase in awareness among populace on rising global temperature.
Players operating in the global solar air conditioning market are executing organic and inorganic strategies such as mergers, acquisitions, collaborations, and joint ventures so as to maintain their prominent position in the market. In addition, companies in the market for solar air conditioning are focusing on the expansion of their businesses in newer geographies. Furthermore, several solar air conditioning service providers are concentrating on the launch of advanced products. These initiatives are expected to fuel the expansion of the solar air conditioning market in the years to come.
Some of the key players operating in the global solar air conditioning market include Solair World, Vicot Air Conditioning Co. Ltd., Lennox International Inc., Arka Technologies, and Sedna Aire International.
Europe: Key Growth Region in Solar Air Conditioning Market
The solar air conditioning market in Europe is projected to gain sizable growth prospects in the upcoming years owing to rise in initiatives by the regional government authorities in order to boost the use of renewable energy sources in the total power-mix. Furthermore, many nations including Germany, France, Spain, and Greece have started small-scale utilization of solar air conditioning devices, particularly for commercial buildings. Such efforts are foreseen to favor the growth curve of the solar air conditioning market in the near future.