Commercial Air Conditioner Market to record USD 44.41 Bn incremental growth; Driven by the rise in residential

NEW YORK, Nov. 7, 2022 /PRNewswire/ — The “Commercial Air Conditioner Market by Product and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report expects the market size to grow by USD 44.41 billion, accelerating at a CAGR of 6.4% during the forecast period. The report offers detailed insights into the impact of various factors on the growth of the global commercial air conditioner market. Understand how the purchase of the report can have a direct impact on your revenue. Download Free Sample Report Now

Market Dynamics

• Driver: The market is driven by the rise in residential construction activities. Factors such as job growth, growing retail and business operations, and recovery of the housing market in developing countries are increasing the demand for residential spaces. In addition, many developing countries are making significant investments in infrastructural development. For instance, in 2020, the Indian government allocated a sum of USD 8.58 billion for the implementation of the Odisha Economic Corridor Project. The cities were selected to have six clusters in the industrial areas of Gopalpur, Bhubaneswar, and Kalinganagar and eight clusters in the Paradip, Kendrapada, Dhamra, and Subarnarekha. Such factors are increasing residential construction activities globally. This, in turn, is driving the growth of the global commercial air conditioner market.

• Challenge: Safety issues are one of the major challenges hindering market growth. In the past few years, there have been a few incidences regarding the safety issues of portable ACs, which have eventually led to product recalls. For instance, in June 2019, three portable AC models of a prominent vendor were recalled due to non-compliance with the Consumer Product Safety Commission. According to the company, an electrical component in these models resulted in overheating and burning of the entire system, posing fire and burn hazards. Such safety concerns and issues not only ruin the company image but also discourage the adoption of the products by consumers due to the fear of safety hazards.

• Get highlights into the impact of drivers, trends, and challenges on the growth of the global commercial air conditioner market. Download Free Sample Report

Commercial Air Conditioner Market Product Outlook (Revenue, USD bn, 2021-2026)

• Split systems – size and forecast 2021-2026

• VRF systems – size and forecast 2021-2026

• Chillers – size and forecast 2021-2026

• Rooftops – size and forecast 2021-2026

• Others – size and forecast 2021-2026

The market growth in the split systems segment will be significant during the forecast period. The growth in the segment comes from the replacement of window units with energy-efficient and sleek split air conditioners. Also, people prefer split ACs over traditional window ACs, owing to multiple benefits, such as ease of installation, simultaneous heating and cooling effect, precise temperature control, and energy efficiency.

Commercial Air Conditioner Market Geography Outlook (Revenue, USD bn, 2021-2026)

• North America – size and forecast 2021-2026

• APAC – size and forecast 2021-2026

• Middle East and Africa – size and forecast 2021-2026

• Europe – size and forecast 2021-2026

• South America – size and forecast 2021-2026

32% of the market’s growth will originate from North America during the forecast period. People in the region consume high amounts of power, consumers are looking to replace them with newer technologies. The replacement demand is thus expected to be the primary driver for the commercial air conditioner market in the region. The rising penetration of the Internet and smartphones in North America is another key reason for the high demand for commercial air conditioner products in the region.

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Major Vendors in Commercial Air Conditioner Market:

• AAON Inc.

• Airedale Air Conditioning Ltd.

• Blue Star Ltd.

• Carrier Global Corp.

• Danfoss AS

• Edison Heating and Cooling

• Emerson Electric Co.

• Farina Corp.

• Fujitsu Ltd.

• Haier Smart Home Co. Ltd.

• Gain access to more vendor profiles available with Technavio. Buy Now!

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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