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The commercial air conditioner market size is forecast to increase by USD 46.28 billion at a CAGR of 6.3% between 2023 and 2028.
The commercial air conditioner industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The split systems segment is estimated to witness significant growth during the forecast period.
Commercial air conditioning systems, including split systems, are essential for maintaining comfortable indoor environments in various industries such as offices, retail spaces, hotels, and healthcare facilities. Split systems are composed of an indoor unit and an outdoor unit, with the indoor unit typically installed inside the commercial space, featuring a cooling coil, fan, and air filters. The outdoor unit, located outside the building, houses the compressor, condenser coil, and expansion valve. The market's evolution is driven by the growing emphasis on energy efficiency and cost-effectiveness in commercial applications. Green building initiatives and increasing carbon footprint concerns have led to the adoption of advanced technologies like compressor technology, heat recovery, renewable energy, and energy management systems.
These innovations improve operational efficiency, reduce energy consumption, and lower maintenance costs. Industrial facilities, data centers, and large commercial buildings often utilize air handling units, cooling towers, and water-cooled or air-cooled chillers to manage large cooling capacities. IoT integration, remote monitoring, and building automation systems enable better temperature control, airflow management, and humidity control. Variable speed drives and SEER rating are crucial factors in optimizing energy efficiency and fan efficiency. LEED certification, smart sensors, and smart controls are becoming increasingly popular for enhancing indoor air quality and improving overall system performance. VRF systems, rooftop units, and packaged units cater to various commercial needs, while demand response programs and service contracts ensure reliable and cost-effective operation.
Overall, the commercial air conditioning market continues to evolve, integrating advanced technologies to meet the growing demands for energy efficiency, cost savings, and improved indoor air quality.
The Split systems segment was valued at USD 31.66 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 29% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America, comprising the United States, Canada, and Mexico, is experiencing steady growth. This region holds a significant market share in the global commercial air conditioner industry. In the US, the demand for commercial air conditioning systems is driven by a large number of commercial establishments, such as office buildings, retail spaces, hospitals, and educational institutions. Strict energy efficiency regulations in the country are propelling the market towards more sustainable and eco-friendly solutions. Compressor technology, renewable energy, and heat recovery systems are gaining traction as energy-efficient alternatives. Air filtration, indoor air quality, and temperature control are essential considerations for building owners and operators.
Air handling units, cooling towers, and water-cooled chillers are popular choices for large commercial buildings. Variable speed drives, energy management systems, and IoT integration are enhancing operational efficiency and reducing energy consumption. VRF systems, rooftop units, and packaged units cater to various commercial needs. Maintenance costs, cooling capacity, and humidity control are key factors influencing purchasing decisions. Building automation, smart sensors, and smart controls are improving system performance and reducing energy waste. LEED certification and demand response programs are incentivizing the adoption of energy-efficient technologies. Remote monitoring and service contracts are essential for ensuring system reliability and minimizing downtime.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The commercial air conditioner market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the commercial air conditioner market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, commercial air conditioner market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AAON Inc. - The company specializes in providing advanced commercial air conditioning solutions, including the AAON RN series packaged rooftop units.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The commercial air conditioning market continues to evolve, driven by advancements in technology and shifting market dynamics. Carbon footprint reduction and green building initiatives are increasingly influencing market trends, with compressor technology and renewable energy playing pivotal roles. Heat recovery systems and air filtration solutions are gaining traction in industrial facilities and data centers, enhancing operational efficiency and indoor air quality. Ventilation systems and air-cooled chillers are being integrated with energy management systems and IoT technologies for improved temperature control and building automation. Variable speed drives and energy efficiency ratings, such as SEER and fan efficiency, are key considerations for commercial buildings.
Maintenance costs, cooling capacity, and remote monitoring are also critical factors shaping market activities. Air handling units, cooling towers, and demand response systems are other essential components of the commercial air conditioning landscape. LEED certification, airflow management, and humidity control are also important aspects of the market, as commercial buildings strive for optimal energy efficiency and sustainability. Smart sensors, smart controls, VRF systems, and rooftop units are further transforming the market, offering enhanced capabilities and flexibility for businesses. Water-cooled chillers and split systems are also popular solutions, catering to diverse cooling needs across various sectors.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Commercial Air Conditioner Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.3% |
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Market growth 2024-2028 |
USD 46.28 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.5 |
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Key countries |
US, China, Germany, Japan, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this commercial air conditioner market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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