Technology
Air Conditioning (AC) Market size is set to grow by USD 14.8 billion from 2024-2028, Rise in residential construction activity to boost the market growth, Technavio
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2 years agoon
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NEW YORK, Aug. 21, 2024 /PRNewswire/ — The global air conditioning (AC) market size is estimated to grow by USD 14.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 2.15% during the forecast period. Rise in residential construction activity is driving market growth, with a trend towards increase in use of r32 refrigerant in split ACs. However, volatility in operating costs and raw material prices poses a challenge. Key market players include Blue Star Ltd., Daikin Industries Ltd., DeLonghi Group, Electrolux group, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies Plc, Transform Holdco LLC, Toshiba Corp., Voltas Ltd., and Whirlpool Corp..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Product (Splits, Chillers, Airside, and Others), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)
Region Covered
APAC, Europe, North America, Middle East and Africa, and South America
Key companies profiled
Blue Star Ltd., Daikin Industries Ltd., DeLonghi Group, Electrolux group, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc., LG Electronics Inc., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies Plc, Transform Holdco LLC, Toshiba Corp., Voltas Ltd., and Whirlpool Corp.
Key Market Trends Fueling Growth
Air conditioning (AC) systems utilize refrigerants, which are compounds capable of absorbing environmental heat and providing refrigeration or cooling when combined with components like compressors and evaporators. Vendors, including Daikin Industries and Samsung Electronics, employ various refrigerants, such as R-410A, R-32, and R-22, to meet cooling demands. R-32 refrigerant, with zero-ozone depletion potential (ODP) and low global warming potential (GWP), is gaining popularity due to its energy efficiency and reduced carbon emissions. R-32 ACs consume up to 10% less electricity than R-410A and R-22 models, making them an attractive choice for consumers. In March 2019, Samsung launched split ACs with R-32 refrigerant, offering higher efficiency and lower environmental impact. The increasing availability and adoption of R-32 ACs are expected to drive the global air conditioning market growth during the forecast period.
The AC market is thriving, with significant growth in both residential and commercial segments. Residential buildings are seeing increased demand for Room AC Windows, Split AC, and Smart Air Conditioners. In the commercial sector, businesses are investing in Centralized AC, VRF, Chillers, and Packaged Air Conditioners for Office Buildings, Retail Spaces, Healthcare Facilities, Data Centers, and Manufacturing Plants. Product launches and innovations, such as Inverter Technology and Energy Efficient designs, are driving the market forward. Mergers and acquisitions, collaborations, and partnerships are shaping the AC business landscape. Online Retail and Direct Sales are gaining popularity, while Distribution Sales continue to dominate. Global temperatures and urban heat are key factors driving demand. Automatic technology is replacing Manual technology for enhanced comfort and energy savings. The market is expected to grow further with the increasing focus on Energy Efficiency Standards.
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Market Challenges
The air conditioning market is influenced by several factors that determine the price of appliances, including manufacturing costs, labor costs, and raw material prices. The cost of raw materials, such as steel, iron, plastic, glass, electronic equipment, petroleum products, and paints, significantly impacts the price of air conditioning products or the profit margins of manufacturers. Raw material prices are subject to change and can fluctuate based on international markets. Procurement of these materials involves additional costs like transportation and necessary services, supplier constraints, and inability to secure favorable arrangements for timely delivery. The prices of major raw materials like steel, rubber, iron, and plastic have seen significant volatility in the US and international markets. This price instability results in either increased product prices or reduced profit margins for manufacturers. The cost of petroleum products, which affect transportation costs for raw materials and final products, also influences market prices. Transportation costs include taxes, duties, and fuel prices, which can increase with rising crude oil prices. These factors challenge air conditioning market manufacturers to produce efficient and innovative hybrid air conditioners at competitive prices during the forecast period.The AC market faces challenges in providing energy-efficient solutions for various sectors like residential buildings, office buildings, retail spaces, healthcare facilities, data centers, and manufacturing plants. Rising global temperatures and urban heat contribute to the increasing demand for air conditioning systems. Smart air conditioners, such as those with Inverter technology, are popular due to their energy efficiency. Energy Efficiency Standards are driving the industry to innovate with air conditioning units using non-inverter technology, window ACs, split ACs, multi-split ACs, and central ACs. Technological advancements, like NanoeX technology and smart technology, offer user comfort, improved indoor air quality, and air filtration systems for allergens and pollutants. Developing nations and urbanization require ecologically conscious goods, leading to the use of recycled materials and energy efficiency. Changing climate patterns necessitate the need for energy-efficient solutions, and commercial spaces are adopting these technologies to attract customers. Smartphones and user comfort further fuel the demand for air conditioners.
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Segment Overview
This air conditioning (ac) market report extensively covers market segmentation by
Product 1.1 Splits1.2 Chillers1.3 Airside1.4 OthersDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America
1.1 Splits- The global air conditioning market is experiencing growth in the splits segment due to the increasing preference for energy-efficient and sleek split air conditioners. Vendors, such as Samsung, have ceased manufacturing window air conditioners and shifted production to split air conditioners to meet customer demand. Inverter-based split air conditioners are gaining popularity for their energy efficiency. The market has seen a decline in demand for ducted standard split air conditioners compared to non-ducted standard splits. Japanese-style mini-splits are becoming more popular in regions like North America as awareness grows. Refurbished products are driving demand for split air conditioners due to the increasing focus on energy efficiency and LEED certifications. Split air conditioners offer benefits such as easy installation, simultaneous heating and cooling effect, precise temperature control, and energy efficiency. They also make less noise and consume less energy than window air conditioners. These advantages have led to an increase in demand for split air conditioners, which will fuel the growth of the splits segment of the global air conditioning market during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Learn and explore more about Technavio’s in-depth research reports
The global HVAC Systems Market is experiencing robust growth, driven by rising urbanization, increasing demand for energy-efficient solutions, and advancements in smart technologies. The market is expanding across residential, commercial, and industrial sectors. Key players like Daikin, Carrier, and Johnson Controls are leading innovations in heating, ventilation, and air conditioning systems. The Asia-Pacific region dominates the market, fueled by rapid construction activities and government initiatives promoting green building standards.
Research Analysis
The AC business is thriving in today’s world due to rising global temperatures and urban heat. Residential buildings, office buildings, retail spaces, and healthcare facilities are major consumers of air conditioners. Smart air conditioners, such as those with NanoeX technology and smart technology, are becoming increasingly popular for their energy efficiency and user comfort. Developing nations and urbanizing areas are witnessing significant growth in the AC market. Ecologically conscious goods, including air conditioners made from recycled materials, are gaining traction. Indoor air quality is a major concern, leading to the demand for air filtration systems that remove allergens and pollutants. Humidity levels are also a consideration, especially in tropical regions. Both residential and commercial segments are adopting advanced technologies like room AC windows, split AC, and energy-efficient solutions to maintain optimal indoor conditions. Smartphones and user-friendly interfaces are making it easier to control AC systems remotely.
Market Research Overview
The AC business is thriving in today’s world due to rising global temperatures and urban heat. Residential buildings, office buildings, retail spaces, healthcare facilities, data centers, and manufacturing plants are major consumers of air conditioning systems. Smart technology and energy efficiency are key trends in the market, with smart air conditioners and inverter technology leading the way. Energy Efficiency Standards are driving the demand for energy-efficient designs and solutions. Air conditioning units come in various types, including window AC, split AC, multi-split AC, central AC, inverter, and non-inverter technology. Technological advancements, such as NanoeX technology, air filtration systems, and humidity control, enhance user comfort. Developing nations and urbanization are fueling the growth of the AC market. Changing climate patterns and the need for ecologically conscious goods are also influencing the industry. The market is witnessing numerous product launches, innovations, mergers and acquisitions, and collaborations and partnerships. Multi-brand stores, exclusive stores, and online stores are popular sales channels. The residential and commercial segments are the major consumers, with the commercial segment showing significant growth. Indoor air quality, allergens, pollutants, and humidity levels are key considerations for consumers. Smartphones and user comfort are also driving the demand for advanced AC features.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ProductSplitsChillersAirsideOthersDistribution ChannelOfflineOnlineGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.
BRISBANE, Australia, July 24, 2026 /PRNewswire-PRWeb/ — VibeBeats Launches AI-Powered Music Streaming Service for Businesses globally
Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.
Most venues playing music through consumer apps are doing it on the wrong licence. VibeBeats, an Australian-built, AI-powered streaming music for business platform, has launched across Australia and worldwide to fix that — turning any phone, tablet or browser into a fully licensed venue sound system in under five minutes. One agreement covers commercial performance rights across OneMusic and APRA AMCOS in Australia, and ASCAP, BMI, PRS and other rights bodies internationally — the same platform serving a café in Melbourne or a gym in London.
The “Spotify for business” that actually exists
Every month, thousands of venue owners worldwide search for “Spotify for business” — a product that doesn’t exist. Consumer streaming accounts are licensed for personal use only, leaving businesses that play them exposed under copyright law in Australia and virtually every other market. VibeBeats fills that gap: a business music streaming service where the commercial music rights are handled under one agreement — no separate music licence for business paperwork to manage.
“The number one thing we see is venue owners assuming it’s fine to play their personal Spotify account in the café — most don’t realise a licence fee even applies,” said Damien King, founder of VibeBeats. “It’s not bad intent. Licensing is complex, and when you’re running a small business there are a hundred competing priorities. VibeBeats solves it with one app, one licence, one platform.”
What VibeBeats delivers
Fully Licensed for Commercial Use — one agreement covers the rights that would otherwise involve OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more.No Hardware Required — any phone, tablet or browser becomes the venue sound system — set up in under five minutes.AI-Curated Background Music for Business — stations matched to venue type and time of day, from morning coffee trade to peak gym floor to late-night bar.Smart Scheduling — playlists by daypart, with music that keeps running through connection drops.Multi-Venue Dashboard — manage every location from a single account.Simple Pricing — from A$29 per month per venue with a 7-day free trial — no lock-in contracts.
Pricing and availability
VibeBeats is available now from $29AUD/$20US per month per venue, and globally, with a 7-day free trial at vibebeats.ai. Purpose-built stations are available for cafés, gyms, retail and in-store environments, bars and hotels.
About VibeBeats
VibeBeats is an AI-powered commercial music streaming platform for businesses, offering direct-licensed music for cafés, restaurants, bars, retail stores, gyms and hotels. One agreement covers commercial performance rights that would otherwise involve PROs, OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more. Australian-built and available globally, VibeBeats AI streams to any device with no proprietary hardware required. Learn more at vibebeats.ai.
VibeBeats is not affiliated with Spotify.
Media Contact
Damien King, Vibebeats AI, 61 0408009067, hello@vibebeats.ai, https://vibebeats.ai
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SOURCE Vibebeats AI
Technology
Inside information: Valmet initiates a strategic review to evaluate a potential separation of its two segments
Published
14 seconds agoon
July 24, 2026By
Valmet Oyj’s stock exchange release (inside information) on July 24, 2026 at 9.01a.m. EEST
ESPOO, Finland, July 24, 2026 /PRNewswire/ — The Board of Directors of Valmet Oyj (“Valmet” or the “Company”) has decided to initiate a strategic review to evaluate a potential separation of its two core businesses, Biomaterial Solutions and Services, and Process Performance Solutions, into two standalone publicly listed companies. The review will focus on assessing whether a separation of the two businesses and their operation as separately listed companies on Nasdaq Helsinki would create additional value for shareholders compared with the current combined structure.
Both Valmet’s core businesses report as separate segments and they have grown into large, mostly independent profitable businesses, each with strong market positions and scale that allow them to succeed independently. With the recent completion of the Severn acquisition taking Process Performance Solutions to approximately EUR 1.7 billion in annual net sales and the renewed operating model now firmly in place, the Board believes this is the right time to assess whether a separation would unlock shareholder value by enabling each business to better realise its full potential.
The Board also notes that the two core businesses operate relatively independently as they serve mainly different customer industries, exhibit distinct business drivers, and have different capital allocation profiles. Biomaterial Solutions and Services is a global technology and lifecycle services business focused on the pulp, board, paper, tissue and energy industries, where its competitive advantage is anchored in a vast installed base, advanced technology, global presence, strong customer references and global services penetration. Process Performance Solutions is a mission-critical automation and flow control business serving a diversified set of industries. Over the past decade, it has evolved from a business primarily focused on pulp and paper into a diversified industrial platform, with close to 70 percent of net sales generated from other industries today.
Based on the Board’s initial assessment, a separation would allow each business to pursue sustainable profitable growth opportunities more independently and efficiently, with the potential for sharper management focus, greater agility, more tailored capital allocation, and more flexible access to external capital to support both organic and inorganic growth. The Board will also assess whether, if implemented, a separation would improve transparency, simplify governance, and allow capital markets to better recognize the full value of both businesses.
Pekka Vauramo, Chair of the Board, said:
“The Board continuously evaluates how to create the greatest long-term value for Valmet’s shareholders. Today, Valmet consists of two strong businesses with distinct markets, growth opportunities and capital allocation needs. Through this review, we will assess whether they can create more value as independent companies than they can together. We will only proceed with a separation if we conclude after detailed analysis that separation is clearly in the best interests of our shareholders.”
Thomas Hinnerskov, President and CEO of Valmet, said:
“Both of our businesses are well positioned, with strong customer relationships and market positions, as well as talented employees. The review reflects the strength and maturity of both businesses, which we have built through strong execution, organic growth and strategic investments into sizeable and successful operations with the scale, capabilities and opportunities to create further value both together and, potentially, as independent companies. This review does not change our commitment to our customers or our strategy. It is a priority for us to preserve the strength of our full offering and the value our customers gain from services, automation and technology working together. Throughout the process, our focus remains on serving our customers and delivering value for their success.”
Although the strategic review has been initiated, there is no guarantee that the review will result in any transaction, including a separation. The Board will only execute or recommend changes to the Group’s structure if clear evidence of enhanced shareholder value creation can be attained. Valmet will provide an update on the review latest in connection with the publication of its full-year 2026 results.
Further information, please contact:
For investors: Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020
For media: Valmet Communications, media@valmet.com
VALMET
Katri Hokkanen
CFO
Pekka Rouhiainen
VP, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com
Valmet is a global technology leader in serving process industries. We work with our customers throughout the lifecycle, delivering cutting-edge technologies and services, as well as mission-critical automation and flow control solutions. Backed by more than 225 years of industrial experience and a global team of 18,500 professionals close to customers, we are uniquely positioned to transform industries toward a regenerative tomorrow.
In 2025, Valmet’s net sales totaled approximately EUR 5.2 billion. Our head office is in Espoo, Finland, and we have experts in approximately 40 countries around the world. Valmet’s shares are listed on Nasdaq Helsinki.
Follow us on valmet.com | X | LinkedIn | Facebook | YouTube | Instagram |
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Technology
Securitas AB Interim Report Q2 2026 | January-June
Published
16 seconds agoon
July 24, 2026By
STOCKHOLM, July 24, 2026 /PRNewswire/ —
APRIL–JUNE 2026
Total sales MSEK 37 843 (38 564)Organic sales growth 0 percent (5)Adjusted organic sales growth, 3 percent*Real sales growth within technology and solutions 5 percent (4)Operating income before amortization MSEK 2 824 (2 798)Operating margin 7.5 percent (7.3)Adjusted operating margin, 7.6 percent (7.5)*Items affecting comparability (IAC) MSEK –46 (–166) Earnings per share, SEK 2.88 (2.56)Earnings per share before IAC, SEK 2.94 (2.79)Cash flow from operating activities 87 percent (106)
JANUARY–JUNE 2026
Total sales MSEK 74 054 (78 170)Organic sales growth 0 percent (4)Adjusted organic sales growth, 2 percent*Real sales growth within technology and solutions 4 percent (5)Operating income before amortization MSEK 5 283 (5 323)Operating margin 7.1 percent (6.8)Adjusted operating margin, 7.3 percent (7.1)*Items affecting comparability (IAC) MSEK 138 (–243) whereof MSEK 213 (–5) related to divestitures Earnings per share, SEK 5.68 (4.86)Earnings per share before IAC, SEK 5.40 (5.15)Cash flow from operating activities 65 percent (56)Net debt/EBITDA ratio 2.2 (2.4)
*A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, was added as of the third quarter 2025. Refer to note 5 for further information.
Comments from the President and CEO
“Continued profitability improvement”
Organic sales growth in the second quarter, adjusted for the close-down of the SCIS government business, was 3 percent. Organic sales growth in North America was supported by both the Guarding and Technology business units, while active portfolio management had a hampering effect on organic sales growth in Europe.
Real sales growth in technology and solutions reached 5 percent in the second quarter, supported by good performance in Technology in North America. Commercial activity remained healthy in the global technology business with strong growth in installation order intake and backlog.
We execute on our strategy with the share of technology and solutions increasing across all segments but we are not fully satisfied with the overall growth. We have built a strong and differentiated technology-led offering and we are intensifying our efforts to commercialize the capabilities we have built.
We delivered an improved adjusted operating margin in the second quarter, reaching 7.6 percent (7.5), driven by both the technology and solutions and the security services business lines. Operating income increased 3 percent and earnings per share 7 percent. For the first six months earnings per share increased 11 percent.
Cash generation was good, corresponding to 87 percent (106) of operating income in the quarter, and 65 percent (56) for the first six months of the year. The net debt to EBITDA ratio was 2.2 (2.4).
THE TRUSTED PARTNER IN INTELLIGENCE-LED SECURITY
Our recently announced 2030 strategy positions Securitas as the trusted partner in intelligence-led security, combining global presence and deep security expertise with advanced data, analytics and technology. By leveraging actionable risk intelligence and a more consultative approach, we aim to move further up the value chain, delivering proactive, insight-driven security and strengthening our role as a strategic advisor to clients. In an increasingly complex risk environment, growing demand for professional security services supports our continued growth and competitive position.
The close-down of the SCIS government business is progressing according to plan and is expected to be concluded by year-end. As no further activities remain, the strategic assessment program was concluded in the second quarter of 2026.
The shift toward technology and solutions continues to drive profitability improvements. We are also strengthening the performance of our security services business and, as of the second quarter of 2026, have completed portfolio management actions related to underperforming contracts in Europe. Going forward, portfolio optimization will continue as part of normal business operations, with a sustained focus on contract profitability.
CREATING LONG-TERM SHAREHOLDER VALUE
In conjunction with the launch of our strategy, we have updated the Group’s financial targets for the period through 2030. The revised targets include a new headline target of achieving 10 percent average annual earnings per share growth over a business cycle, alongside targets for cash flow, leverage and dividend policy. With a strong focus on quality and innovation, we are accelerating our transformation and remain confident in our ability to deliver sustainable earnings growth and create long-term shareholder value.
Magnus Ahlqvist
President and CEO
PRESENTATION OF THE INTERIM REPORT
Analysts and media are invited to participate in a telephone conference on July 24, 2026, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Matteo Dall’Ora will present the report and answer questions. The telephone conference will also be audio cast live via Securitas’ website www.securitas.com
To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/
A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/
after the telephone conference.
For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443
ABOUT SECURITAS
Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, combined with an innovative, holistic approach, we’re transforming the security industry. With approximately 322 000 employees in 44 markets, we see a different world and create sustainable value for our clients by protecting what matters most – their people and assets.
Group financial targets
Securitas has the following financial targets:
Average annual earnings per share growth of 10 percent over a business cycle, excluding items affecting comparability and adjusted for changes in exchange rates, with a >10 percent operating margin ambition long-termOperating cash flow of 80–90 percent of operating income before amortizationNet debt to EBITDA below 2.5xDividend policy of 50–60 percent of annual net income over a business cycle, with excess capital returned to shareholders once stra-tegic growth priorities are met
Securitas AB (publ.)
P.O. Box 12307, SE-102 28 Stockholm, Sweden
Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302-7241
This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 8.00 a.m. (CEST) on Friday, July 24, 2026.
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