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!
Related Reports:
The personal cooling device market is projected to grow by USD 1.73 billion with a CAGR of 5.28% during the forecast period 2021 to 2026. The cost-effective supply chain for personal cooling devices is notably driving the personal cooling device market growth, although factors such as threats from unorganized retailing may impede the market growth.
The portable evaporative air cooler market share is expected to increase by USD 103.19 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.1%. The increased residential development activity is notably driving the personal cooling device market growth, although factors such as stringent government standards and regulations may impede the market growth.
Commercial Air Conditioner Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
Market growth 2022-2026 |
USD 44.41 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.3 |
Regional analysis |
North America, APAC, Middle East and Africa, Europe, and South America |
Performing market contribution |
North America at 32% |
Key consumer countries |
US, Canada, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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., Hitachi Ltd., Johnson Controls International Plc, Lennox International Inc., LG Corp., Midea India Pvt. Ltd., Mitsubishi Electric Corp., Paloma Co. Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Trane Technologies plc, and Daikin Industries Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Split systems - Market size and forecast 2021-2026
- Exhibit 28: Chart on Split systems - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Split systems - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Split systems - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Split systems - Year-over-year growth 2021-2026 (%)
- 5.4 VRF systems - Market size and forecast 2021-2026
- Exhibit 32: Chart on VRF systems - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on VRF systems - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on VRF systems - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on VRF systems - Year-over-year growth 2021-2026 (%)
- 5.5 Chillers - Market size and forecast 2021-2026
- Exhibit 36: Chart on Chillers - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Chillers - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Chillers - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Chillers - Year-over-year growth 2021-2026 (%)
- 5.6 Rooftops - Market size and forecast 2021-2026
- Exhibit 40: Chart on Rooftops - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Rooftops - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Rooftops - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Rooftops - Year-over-year growth 2021-2026 (%)
- 5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Product
- Exhibit 48: Market opportunity by Product ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 APAC - Market size and forecast 2021-2026
- Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.5 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.6 Europe - Market size and forecast 2021-2026
- Exhibit 66: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.7 South America - Market size and forecast 2021-2026
- Exhibit 70: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 Japan - Market size and forecast 2021-2026
- Exhibit 86: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.12 India - Market size and forecast 2021-2026
- Exhibit 90: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.13 Canada - Market size and forecast 2021-2026
- Exhibit 94: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 95: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 96: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 97: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.14 Market opportunity by geography
- Exhibit 98: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 99: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 100: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 101: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 102: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 103: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 104: Matrix on vendor position and classification
- 10.3 Airedale Air Conditioning Ltd.
- Exhibit 105: Airedale Air Conditioning Ltd. - Overview
- Exhibit 106: Airedale Air Conditioning Ltd. - Product / Service
- Exhibit 107: Airedale Air Conditioning Ltd. - Key offerings
- 10.4 Blue Star Ltd.
- Exhibit 108: Blue Star Ltd. - Overview
- Exhibit 109: Blue Star Ltd. - Business segments
- Exhibit 110: Blue Star Ltd. - Key offerings
- Exhibit 111: Blue Star Ltd. - Segment focus
- 10.5 Carrier Global Corp.
- Exhibit 112: Carrier Global Corp. - Overview
- Exhibit 113: Carrier Global Corp. - Business segments
- Exhibit 114: Carrier Global Corp. - Key news
- Exhibit 115: Carrier Global Corp. - Key offerings
- Exhibit 116: Carrier Global Corp. - Segment focus
- 10.6 Daikin Industries Ltd.
- Exhibit 117: Daikin Industries Ltd. - Overview
- Exhibit 118: Daikin Industries Ltd. - Business segments
- Exhibit 119: Daikin Industries Ltd. - Key news
- Exhibit 120: Daikin Industries Ltd. - Key offerings
- Exhibit 121: Daikin Industries Ltd. - Segment focus
- 10.7 Fujitsu Ltd.
- Exhibit 122: Fujitsu Ltd. - Overview
- Exhibit 123: Fujitsu Ltd. - Business segments
- Exhibit 124: Fujitsu Ltd. - Key offerings
- Exhibit 125: Fujitsu Ltd. - Segment focus
- 10.8 Hitachi Ltd.
- Exhibit 126: Hitachi Ltd. - Overview
- Exhibit 127: Hitachi Ltd. - Business segments
- Exhibit 128: Hitachi Ltd. - Key news
- Exhibit 129: Hitachi Ltd. - Key offerings
- Exhibit 130: Hitachi Ltd. - Segment focus
- 10.9 Johnson Controls International Plc
- Exhibit 131: Johnson Controls International Plc - Overview
- Exhibit 132: Johnson Controls International Plc - Business segments
- Exhibit 133: Johnson Controls International Plc - Key news
- Exhibit 134: Johnson Controls International Plc - Key offerings
- Exhibit 135: Johnson Controls International Plc - Segment focus
- 10.10 LG Corp.
- Exhibit 136: LG Corp. - Overview
- Exhibit 137: LG Corp. - Business segments
- Exhibit 138: LG Corp. - Key offerings
- Exhibit 139: LG Corp. - Segment focus
- 10.11 Mitsubishi Electric Corp.
- Exhibit 140: Mitsubishi Electric Corp. - Overview
- Exhibit 141: Mitsubishi Electric Corp. - Business segments
- Exhibit 142: Mitsubishi Electric Corp. - Key news
- Exhibit 143: Mitsubishi Electric Corp. - Key offerings
- Exhibit 144: Mitsubishi Electric Corp. - Segment focus
- 10.12 Samsung Electronics Co. Ltd.
- Exhibit 145: Samsung Electronics Co. Ltd. - Overview
- Exhibit 146: Samsung Electronics Co. Ltd. - Business segments
- Exhibit 147: Samsung Electronics Co. Ltd. - Key news
- Exhibit 148: Samsung Electronics Co. Ltd. - Key offerings
- Exhibit 149: Samsung Electronics Co. Ltd. - Segment focus
11 Appendix
About Technavio
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 150: Inclusions checklist
- Exhibit 151: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 152: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 153: Research methodology
- Exhibit 154: Validation techniques employed for market sizing
- Exhibit 155: Information sources
- 11.5 List of abbreviations
- Exhibit 156: List of abbreviations
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