Below are some of the key findings from our analysis of the packaged air conditioner market
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Global packaged air conditioner market overview
Research analysis of the global packaged air conditioner market identifies growth in global construction activities will be one of the major factors that will have a positive impact on the growth of the market. The increase in residential and commercial building construction will drive the global packaged air conditioner market, as air conditioning systems are integral to modern construction. The growing infrastructure and construction industry will drive the market growth, for instance, in 2010, the Malaysian government had initiated the Economic Transformation Plan, to push the domestic construction sector. Technavio's market research analysts predict that this market will grow at a CAGR of more than 5% by 2021.
The growing adoption of R32 refrigerant in air conditioners will be one of the latest trends that will gain traction in the packaged air conditioner market during the next four years. The emergence of R32 refrigerant is a new hydrofluorocarbon (HFC) whose adoption will growth during the forecast period. They are used as a replacement for R410A, R22, and other refrigerants is growing as its use does not harm the environment when compared to the currently available commercial refrigerants. R32 also has heat transfer efficiency, which reduces the energy consumption of the air conditioner per unit of cooling capacity.
Competitive landscape and key vendors
Owing to the presence of large and small-scale vendors, this market appears to be highly competitive. The vendors in the packaged air conditioner market are competing based on the wide range of product types and applications. The vendors are increasingly focusing on increasing R&D investments for developing energy efficient and smart home technologies.
The leading vendors in the market are -
- Carrier
- DAIKIN INDUSTRIES
- Johnson Controls
- Lennox International
- Ingersoll Rand
The other prominent vendors in the market are Blue Star, GREE ELECTRIC APPLIANCES, Haier, LG Electronics, Midea Group, Mitsubishi Electric, Nortek Global HVAC, Panasonic, Rheem Manufacturing Company, SAMSUNG, Voltas, and Whirlpool.
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Segmentation by product and analysis of the packaged air conditioner market
- Packaged air conditioning with water-cooled condenser
- Packaged air conditioner with air-cooled condenser
During 2016, the air conditioner market by water-cooled condensers segment accounted for the major shares of this market. The heat from the refrigerant is transferred to the water which needs to be continuously supplied to the condenser for proper functioning. The segment will witness demand from commercial establishments, large homes, workshops and industries, which have large areas and high cooling requirement.
Geographical segmentation and analysis of the packaged air conditioner market
This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The region has witnessed a considerable number of individual homes and small businesses, where the cooling demand is perfectly met by packaged units. The region holds a record for the largest number of data centers globally and is expected to add several more during the forecast period.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global packaged air conditioner market?
- What are the key market trends impacting the growth of the global packaged air conditioner market?
- What are the challenges to market growth?
- Who are the key vendors in the global packaged air conditioner market?
- What are the market opportunities and threats faced by the vendors in the global packaged air conditioner market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global packaged air conditioner market?
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