The global solar air conditioning market is estimated to be valued at US$17.41 billion in 2017 and is expected to exhibit a CAGR of 9.3% over the forecast period of 2018-2026, according to a new report published by Coherent Market Insights.

A) Market Overview
Solar air conditioning systems utilize solar power to cool spaces and provide efficient climate control while minimizing greenhouse gas emissions. These systems offer several advantages, including reduced electricity bills, eco-friendliness, and increased energy efficiency. The rising demand for energy-efficient cooling solutions, coupled with government initiatives and incentives for renewable energy adoption, is expected to drive the growth of the global solar air conditioning market.

B) Market Key Trends
One key trend in the solar air conditioning market is the increasing focus on sustainable development and reducing the carbon footprint. Governments and organizations worldwide are implementing stricter regulations and policies to promote the adoption of clean and renewable energy sources. Solar air conditioning systems help reduce reliance on traditional fossil fuels and contribute to a more sustainable future. For instance, in July 2017, the Indian Ministry of New and Renewable Energy launched a program to promote the use of solar energy for air conditioning in government buildings.

C) PEST Analysis
- Political: Governments across the globe are implementing policies and regulations to promote the use of renewable energy sources. This creates opportunities for the solar air conditioning market.
- Economic: The increasing cost of electricity and the need for energy-efficient cooling solutions are driving the demand for solar air conditioning systems.
- Social: Growing environmental awareness among consumers and the need for sustainable solutions are influencing the adoption of solar air conditioning systems.
- Technological: Advancements in solar panel technology and the development of innovative cooling solutions are driving the growth of the solar air conditioning market.

D) Key Takeaways
- The global solar air conditioning market is expected to witness high growth, exhibiting a CAGR of 9.3% over the forecast period, due to increasing demand for energy-efficient cooling solutions.
- Asia Pacific is projected to be the fastest-growing and dominating region in the solar air conditioning market, driven by rising urbanization, favorable government initiatives, and increasing environmental consciousness.
- Key players operating in the global solar air conditioning market include Lennox, Videocon, Harvest Air Conditioner, HotSpot Energy Inc., Aussie Solar World, Solair World International, Icesolair, Gree, Midea Group Onyx Solar ac, and others.

In conclusion, the global solar air conditioning market is set to experience significant growth in the coming years. The increasing demand for energy-efficient cooling solutions, coupled with government support and technological advancements, will drive the adoption of solar air conditioning systems. By harnessing the power of the sun, these systems offer a sustainable and economical solution for climate control. Asia Pacific is expected to lead the market due to favorable factors such as urbanization and government initiatives. Key players in the market are continuously innovating to provide more efficient and cost-effective solutions for consumers' cooling needs.