Top 10 Air Conditioner Companies Leading Innovation and Sustainable Cooling in Asia Pacific

Lately, air conditioners have become key components of daily life, assisting households in maintaining a normal room temperature for comfortable living. The developing real estate industry is a significant factor driving product demand throughout Asia. With temperatures going up, cities growing quickly, and the need for capable cooling solutions is on the rise. 

Climate change is making heatwaves worse, and Asia is at the forefront of this product demand. Moreover, consumers focus on energy-efficient and eco-friendly products. This creates a demand for air conditioners.

Fueled by these factors, Fortune Business Insights projects the market for air conditioners in Asia Pacific is projected to hit USD 18.87 billion in 2032, driven by a CAGR of 5.77%.

Fortune Business Insights Discloses Asia Pacific’s Top 10 Companies Producing Air Conditioners

1. Daikin Industries Ltd.

Daikin Industries Ltd. is a global firm based in Japan, with expertise in HVAC-R. They provide advanced climate control systems, offering sustainable devices for commercial, residential, and industrial usage. The company operates in over 150 countries and emphasizes sustainability. The company has various subsidiaries, such as Ascon Malaysia, Goodman Manufacturing, and Daikin Air conditioning India Private Limited, among others. In December 2024, Daikin India, a division of Japan’s Daikin Industries, entered into a partnership with Rechi Precision to construct an AC compressor facility in Sri City, Andhra Pradesh. This alliance will focus on the manufacturing and distribution of rotary compressors in India and specific international markets.

2. LG Electronics Inc.

LG Electronics Inc. is a South Korean electronics company. The company operates in various business segments, including home appliances and air solutions, mobile communications, home entertainment, and vehicle component solutions. It is a division of LG Corporation, which operates in more than 84 countries and has a network of over 469 locations globally. The company runs multiple production facilities situated in India, South Korea, the U.S., Mexico, Brazil, Australia, and Chile. It has more than 142 local branches worldwide. In May 2024, LG Electronics achieved sales of over 1 million air conditioners within just 100 days and was anticipated to reach more than 2 million by the end of the year. LG launched 77 new energy-efficient models equipped with features such as Diet Mode and Energy Manager, which reduce power usage by 81%. The stunning ArtCool Series aligns with the “Make in India” initiative.

3. Panasonic Holdings Corporation

Panasonic Holdings Corporation is an electronics company based in Japan, operating across five business sectors: Automotive, Lifestyle, Industry, Connect, and Energy. The company has more than 31 production plants globally. 1 in Northeast Asia and China, 8 in North America and Latin America, 9 in Japan, 1 in Europe, and 4 in Southeast Asia and Oceania, India and South Asia, and the Middle East & Africa. Panasonic launched the OASYS residential central air conditioning system in January 2025. It is located in the U.S. and helps reduce energy usage by 50%. Its effective ventilation and air purification systems maintain temperatures and ensure easy operation.

4. Midea Group

Midea Group is a global company based in China, specializing in consumer appliances, HVAC systems, robotics, and industrial automation and offering advanced and sustainable solutions. The company operates in more than 200 countries, focusing on smart technology and enhancing living standards through advanced engineering and design. In September 2024, Flexi-Space, a listed air-conditioning contractor, launched the Midea VC MAX Air Conditioner at Accra's British Council Hall. Officials from Midea Group showcased the new VC MAX VRF Series, featuring advanced features such as 17 monitoring sensors and digital twin technology to guarantee ongoing operations.

5. Mitsubishi Electric Corporation

Mitsubishi Electric Company, which is located in Tokyo, Japan, a major producer of electronic equipment. They deliver products and solutions across several industries, including automation, energy systems, automotive equipment, HVAC, and information technology. The company operates in over 120 countries with a commitment to driving growth in smart infrastructure, factory automation, and environmental control to help develop a more sustainable future. In April 2024, Mitsubishi Heavy Industries Thermal Systems, Ltd., a part of the MHI Group, unveiled the global overview of the KXZ3 Series, which features multi-split air conditioners. The range includes three models with capacities of 22.4, 28, and 33.5 kW, utilizing the eco-friendly R32 refrigerant, which has a Global Warming Potential approximately one-third that of earlier models. The KXZ3 Series was expected to be first available in Europe, followed by rollouts in Australia, New Zealand, and Turkey. It offers improved energy savings with an 18% higher Seasonal Energy Efficiency Ratio (SEER).

6. Voltas Limited

Voltas Limited is one of the top Asia air conditioner companies in 2025. The company is an expert in cooling, engineering, and air conditioning solutions. It is part of the TATA Group and offers a range of various products, including HVAC systems, household appliances, and commercial refrigeration. They manage engineering projects in water management, infrastructure, and electrochemical solutions, building a reputable name both domestically and globally. In March 2024, Voltas launched its SmartAir air conditioners equipped with IoT technology. The SmartAir series features energy usage tracking, super silent operation, and compatibility with Alexa and Google Home, which are available via the Voltas Smart Mobile App. 

7. Samsung Electronics

Samsung Electronics is an electronics company based in South Korea with more than 230 centers in 74 countries, over 15 regional offices, and 108 sales offices internationally. It offers a range of products, including mobile phones, air conditioners, refrigerators, washing machines, monitors, and cooking appliances. The company runs more than 31 manufacturing sites and 41 research and development centers worldwide. In December 2024, Samsung launched its patented Bespoke AI technologies, designed to provide quick and satisfying cooling, energy efficiency, durability, and aesthetic appeal.

8. Concepcion-Carrier Air Conditioning Company (CCAC)

Concepcion-Carrier Air Conditioning Company (CCAC) is based in the U.S and specializes in refrigeration, HVAC, and building automation solutions. This company was established in 1915 and is recognized for its innovative and environmentally friendly devices that enhance sustainability and transform interior settings. The company is active in North America, Europe, Asia, South America, the Middle East, and Africa. In May 2024, Carrier bought Toshiba’s 60% stake in Toshiba Carrier Corporation for USD 870 million. Toshiba Carrier was founded in 1999. This company specializes in economical VRF and light commercial HVAC systems, heat pumps, and compressors. This acquisition strengthens Carrier’s position in the quickly growing VRF category by leveraging Toshiba’s renowned brand, R&D centers, global production capabilities, and product pipeline.

9. Gree Electric Appliances, Inc.

Gree Electric Appliances, Inc., is a top global home appliance company based in Zhuhai, China, specializing in air conditioners. The company has grown to become one of the leading global suppliers of domestic air conditioners, offering a range of products. It operates in more than 160 countries, striving for sustainability and delivering high-quality, effective solutions for modern living. In June 2024, the company launched the G-Boost Inverter Compressor Split Air Conditioner in Oman in partnership with its select distributor, GENETCO LLC. This new solution ensures a better energy economy, precise temperature control, and eco-friendly operation, transforming traditional cooling systems.

10. Hitachi, Ltd.

Hitachi, Ltd. is a global firm headquartered in Tokyo, Japan, specializing in infrastructure, energy, information technology, and advanced manufacturing. It provides solutions in construction machinery, power systems, digital technologies, and healthcare. The company has years of experience in engineering, providing dependable, and innovative products and services for both industrial and household uses. In May 2024, Hitachi Energy and Petrofac announced a collaboration to develop the offshore wind business by merging their grid integration and infrastructure capabilities. The partnership combines Hitachi Energy’s HVDC Light and HVAC solutions with Petrofac’s engineering and construction expertise to support the growth of renewable energy.

Will Technology and Sustainability Drive the Growth of Air Conditioning in Asia?

The market for air conditioners in Asia is expected to grow, driven by the increasing number of people moving to cities, and climate-related issues. As major players in the industry continue to evolve and focus on energy efficiency, we can expect big improvements that enhance guest comfort while also benefiting the environment. This blend of technology and sustainability is poised to shape the future of climate control in the region.