Global Room & Commercial Air Conditioners Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Room & Commercial Air Conditioners Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Air conditioning conditions the air in a building space, including heating, dehumidifying, and cooling the air. By installing air conditioning systems in homes and businesses, you can keep people warm in winter and cool in summer. Due to the size of the space, the power required, and the frequency of use of the system, the requirements of commercial air conditioners and residential air conditioners are very different. Commercial air conditioners are often considered more significant, more complex versions of home air conditioners.

Market Overview:

The latest research study on the global Room & Commercial Air Conditioners market finds that the global Room & Commercial Air Conditioners market reached a value of USD 125833.54 million in 2023. It’s expected that the market will achieve USD 172640.48 million by 2029, exhibiting a CAGR of 5.41% during the forecast period.

Promote technological innovation

The new coronavirus can be transmitted directly or indirectly, and some studies have found that sharing the same space with a coronavirus patient may lead to the spread of infection. Therefore, to solve the problem of air-borne viruses, some air-conditioning companies have upgraded the air-conditioning system, ventilation, and heating systems, and added sterilization technology and virus filtration technology to the ventilation ducts to improve air quality and ensure the health and safety of consumers.

Change in the sales method

After the outbreak, consumers went out shopping less, offline stores closed, and passenger traffic dropped sharply. Live streaming online is becoming more and more popular. The pandemic has accelerated years of impacts on consumer shopping habits. Live streaming has become a new way of selling goods. Online platforms represented by Amazon rely on technology, logistics, and high efficiency to quickly enter the market. Brand owners are also gradually increasing their investment in the online market. Therefore, from the perspective of channel share and growth rate, the online market has developed rapidly during the COVID-19 period.

Advantages of room & commercial air conditioners

Room and commercial air conditioners offer many benefits, including improved indoor air quality, humidity control, sleep promotion, heating in winter, noise reduction, and more. As a tool to adjust the temperature, the air conditioner can artificially control the temperature through the remote control, which plays a role in warming in winter and cooling in summer. Most air conditioners are beautiful and stylish in appearance, comfortable and durable in performance. Household air conditioners provide a comfortable living environment for family members and are very popular among consumers. Running your air conditioner will not only reduce the humidity in your home, but it will also reduce the amount of pollen, mold, and other airborne outdoor allergens that can contribute to asthma symptoms. Commercial air conditioners can keep workplaces and commercial indoor environments at the right temperature to provide a comfortable environment for customers or employees, improving employee health, productivity, and customer experience. For example, in the transportation industry, air conditioners use refrigeration technology to keep items fresh when transporting items that are not easy to store and provide transport personnel with a comfortable working environment and air circulation in the cabin. The introduction of energy-saving smart air conditioners reduces energy loss and achieves the effect of energy saving and emission reduction. The pursuit of comfortable life has increased the demand for room and commercial air conditioners in the downstream market.

Global warming

Climate change continued in 2022, from mountain peaks to ocean depths, according to the World Meteorological Organization's 2022 annual report. Droughts, floods, and heat waves have affected every continent, causing billions of dollars in damage. Antarctic sea ice has fallen to its lowest level on record, and some European glaciers are melting to unprecedented levels. The global temperature is constantly rising. In many areas around the world, due to inadequate infrastructure, many residents suffer from heat stroke or even die in hot weather. Air conditioning is the number one protective factor against heat-related illness and death, according to the U.S. Centers for Disease Control and Prevention. Therefore, local government departments have strengthened the construction of air conditioners in areas where extreme weather occurs, which not only protects the safety of residents but also promoted the development of the air conditioner market.

Region Overview:

In 2022, the share of the Room & Commercial Air Conditioners market in China stood at 42.62%.

Company Overview:

The major players operating in the Room & Commercial Air Conditioners market include Midea Group Co. Ltd, Gree Electrical Appliances Inc., Daikin Industries Ltd, Haier Group Corporation, Panasonic Corporation, etc. Among which, Midea Group Co. Ltd ranked top in terms of sales and revenue in 2023.

Midea is a global technology group covering five business segments including smart home, building technology, industrial technology, robotics and automation, and digital innovation. So far, Midea has about 200 subsidiaries, 35 R&D centers and 35 major production bases around the world, with businesses covering more than 200 countries and regions.

Segmentation Overview:

By type, Inverter Air Conditioner segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Room segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Room & Commercial Air Conditioners market covered in Chapter 3:

Electrolux
Carrier
Mistubushi Electric
Gree Electrical Appliances Inc.
Haier Group Corporation
Whirlpool
Bluestar
Panasonic Corporation
LG Electronics Inc.
Hitachi-Johnson Controls Air Conditioning Inc.
Voltas Limited
Daikin Industries Ltd
Midea Group Co. Ltd

In Chapter 4 and Chapter 14.2, on the basis of types, the Room & Commercial Air Conditioners market from 2019 to 2030 is primarily split into:

Inverter Air Conditioner
Fixed Frequency Air Conditioner

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Room & Commercial Air Conditioners market from 2019 to 2030 covers:

Room
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)