The new report by Expert Market Research titled, ‘Global Commercial Air Conditioner (AC) Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global commercial air conditioner (AC) market, assessing the market based on its segments like types, installation types, end users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): 94 Million Units
- Forecast CAGR (2022-2027): 35%
- Forecast Market Size (2027): 12 Million Units
For the past several years, the global market for commercial air conditioner (AC) has been rising at a rapid pace owing to the combined effects of ozone depletion and the El Nino effect, which has resulted in a gradual rise in the world’s average temperature, making the spring and summer seasons warmer. Increasing per capita income and continuously worsening environmental conditions are expected to contribute considerably to market expansion. Additionally, the market will rise as a result of rapidly increasing commercialisation, a thriving construction and residential industry, an increasing replacement market, energy efficiency regulations, and technological advancements.
Industry Definition and Major Segments
A commercial air conditioner (AC) is a machine that treats air in a specific, generally enclosed space by removing warmer air and replacing it with colder air using a refrigeration cycle. Commercial air conditioner usually integrates the heating and cooling units into a single rooftop package, minimising noise from interfering with the work of the inhabitants and allowing businesses to save space.
Based on type, the industry can be divided into:
- Chillers
- Split Units
- Packaged Unit
- Variable Refrigerant Flow (VRF)
- Others
On the basis of installation type, the industry can be categorised into:
- New Installation
- Retrofit
Based on end user, the industry can be segmented into:
- Healthcare
- Educational/ Institutional
- Public/ Government
- Retail
- Hospitality
- Manufacturing
The regional markets for ostomy care and accessories include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Market Trends
As a result of rising environmental awareness and a driving focus on reducing carbon footprint, companies are turning to innovative energy efficient solutions, such as sensor-driven ventilation, motion activated air conditioning, air conditioning powered by ice, thermal powered air conditioning system, and geothermal heating pumps. Increasing population, rapid industrialisation and urbanisation, rising travel and tourism industry, and increasing installation of advanced system for greater satisfaction are likely to be among the key trends bolstering the market growth in the forecast period. The market is expected to rise rapidly as a result of rapid technological advancements and increased research and development initiatives by key players to produce novel solutions with cutting-edge features.
Key Market Players
The major players in the market are Johnson Controls International plc, LG Electronics Inc., Mitsubishi Electric Corporation, and Daikin Industries Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
