Commercial Air Conditioner (AC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Commercial Air Conditioner (AC) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Commercial Air Conditioner Market

The commercial air conditioner market size was valued at USD 40.38 billion in 2018, and the market is now projected to grow USD 76.69 billion in 2032, exhibiting a CAGR of 4.7% during the forecast period of 2019-2032.

This industry emerged with some challenges led by the COVID-19 crisis affecting the supply chain and postponement of the installation of commercial air conditioning systems because of lock. However, as the emphasis on improving the quality of indoor air and HVAC systems with improved filters and air purification mechanisms rose in the commercial market. As more companies aimed for creating safer and comfortable workplaces, there was increased market for energy-saving and intelligent air conditioning systems. Also, post-pandemic, there is versatility required in the control of climate in any built form including offices in relation to the commercial HVAC systems. As business activities commenced; the market was rebooted within the context of sustainability as well as indoor air quality.

Thus, global growing tendency in the governmental and private expenditures on infrastructures stimulated the high demand for the commercial air conditioners during 2019-2026. Many commercial buildings that have installed air conditioners will also drive the market in this period. Such companies as Daikin Industries are already increasing their international capacity by opening new production facilities in Brazil and Argentina. This expansion is for satisfying growing demand in developing states. It is estimated that this trend will persist in the future, thereby providing corresponding impetus for the development of the commercial air conditioner market.

There is a growing interest in the commercial air conditioner niche market due to growing market demand for energy efficient and green HVAC products. Growth in smart building technology is making it possible to incorporate IoT based air conditioners to monitor and control energy consumption in an intelligent manner. Also, developments in air cleaning and ventilation products are emerging as an important trend, due to increasing awareness of indoor air quality. There is also the adoption of natural refrigerants operating to meet the market environment standards in this market. Due to government and private investments in infrastructure there is likely to be strong demand for commercial air conditioners, making the market global bigger.

Comprehensive Analysis of Commercial Air Conditioner Market

The commercial air conditioner market growth is rising at an exponential rate due to its market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by type analysis, by refrigerant type analysis, and by end-user analysis. By type analysis include packaged air conditioners and VRF/VRV air conditioners. By refrigerant type analysis include R32, R-410A/R-407C, R-600A/ R-290, Others (R-22, etc.). By end-user analysis include healthcare, educational/Institutional, public, retail, Hospitality, and manufacturing.

The North America region lead the commercial air conditioner market share by benefitting a market size of USD 7.0 billion in 2018 due to its high demand for energy-efficient HVAC systems.

The top players have a significant responsibility in the machinery and equipment industry for confirming industrial prospectus growth and determining the market trends. These players include, Carrier Corporation, Daikin Industries Ltd., Johnson Controls Pvt. Ltd., Mitsubishi Electric, LG Corporation, Samsung, Ingersoll Rand Inc., Blue Star Ltd., Hitachi Ltd., and Airedale International Air Conditioning these market players provide a level-playing competitive landscape.

In February 2021, Carrier Corporation introduced the new high-efficiency Commercial Air Conditioning systems based on sustainability energy operations. Daikin Industries Ltd. in the market of commercial spaces brought new improved VRV systems in June 2022, VRV for energy-saving and high performance.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD Billion)

Volume (Million Units)

Segmentation By Type

Packaged Air Conditioners

VRF/VRV

By Refrigerant

R-32

R-410A/R-407C

R-600A/R-290

Others (R-22, etc.)

By End-User

Healthcare

Educational/Institutional

Public/ Government

Retail

Hospitality

Manufacturing

By Region

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

Latin America (Brazil, Mexico, and Rest of Latin America)Please Note: It will take 5-6 business days to complete the report upon order confirmation.