Commercial Air Conditioning System Market By Type (VRF, Ducted Split/Packaged Unit, Split Units, Room ACs, Others (Chillers)), By Installation Type (New Installation, Retrofit), By End- User (Office and Buildings, Hospitality, Supermarkets/Hypermarkets, Transportation, Government, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
The global commercial air conditioning system market is envisioned to garner $ 57,938.30 million by 2031, growing from $38,262.10 million in 2021 at a CAGR of 4.5% from 2022 to 2031.
A large-scale HVAC (heating, ventilation, and air conditioning) system created for use in commercial or industrial buildings including offices, malls, hospitals, hotels, and factories is referred to as a commercial air conditioning system. These systems are specifically designed to meet the cooling and heating requirements of larger spaces and are more robust and powerful compared to residential air conditioning systems. It functions by pulling heated air from the building, chilling, and dehumidifying it, and then cycling it back into the interior area.
The reducing energy use is the main goal for many building administrators and owners because commercial buildings contribute to a sizeable amount of the world's energy usage. Energy-efficient air conditioning systems provide a solution to lower energy use while keeping the interior environment at a reasonable temperature. Additionally, a lot of companies are seeking methods to lessen their carbon footprint as environmental awareness of the effects of carbon emissions on the environment continues to rise. By using less energy to cool buildings, energy-efficient air conditioning systems may contribute to lowering carbon emissions. The commercial air conditioning industry is seeing an increase in demand for these systems. The increasing focus on energy efficiency and sustainable solutions is driving the demand for energy-efficient air conditioning systems in the commercial air conditioning market.
The space limitations in commercial buildings can be a real challenge for businesses that require efficient air conditioning systems. The installation of smaller air conditioning units that fit in the given area is a space restriction. While smaller units might not perform as well in terms of cooling or heating as bigger units, they can nevertheless be useful in preserving cozy indoor temperatures. When it comes to commercial air conditioning systems, there are numerous solutions to the space issue. Businesses may maintain acceptable inside temperatures while making the best use of their available space by adopting smaller units, ductless systems, rooftop units, and smart controls.
The demand for commercial air conditioning systems rises in connection with the expansion of industries and the worldwide economy. Air conditioning is a necessary component of contemporary commercial building infrastructure, especially in metropolitan regions. As more companies and industries embrace these systems, the market for commercial air conditioning systems is expected to grow. The benefits of air conditioning systems, such as improved indoor air quality, enhanced productivity, and energy efficiency, are becoming more widely known, which contributes to this expansion. In addition, advancements in technology are making commercial air conditioning systems more energy-efficient and cost-effective, which is driving their adoption in new and existing buildings.
The COVID-19 pandemic brought several uncertainties leading to severe economic losses as various businesses across the world were on a standstill. There were import-export restrictions laid down on major commercial air conditioning system producing countries such as the U.S. and China, which imposed significant challenges on the market. Due to a slowdown in development and remodeling projects as well as the pandemic-related closure of several commercial buildings and offices, the demand for commercial air conditioning systems has decreased. As an outcome, fewer new systems were installed. Additionally, the availability of parts and supplies for air conditioning systems has been impacted by supply chain interruptions brought on by lockdowns and limitations on international trade faced during the pandemic.
The key players profiled in this report include Carrier.; DAIKIN INDUSTRIES, Ltd; FUJITSU GENERAL; Haier Inc; Hitachi, Ltd.; LG Electronics.; Mitsubishi Electric Corporation; Panasonic Corporation; SAMSUNG; and AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the commercial air conditioning system market analysis from 2021 to 2031 to identify the prevailing commercial air conditioning system market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the commercial air conditioning system market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global commercial air conditioning system market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Installation TypeNew Installation
Retrofit
By End- UserOffice and Buildings
Hospitality
Supermarkets/Hypermarkets
Transportation
Government
Healthcare
Others
By TypeVRF
Ducted Split/Packaged Unit
Split Units
Room ACs
Others (Chillers)
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest of LAMEA
Key Market Players
Carrier
Daikin Industries, Ltd.
fujitsu general
Haier Inc.
Hitachi, Ltd.
LG Electronics
Mitsubishi Electric Corporation
Panasonic Corporation
Voltas, Inc.
Blue Star Limited
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