The North America Air Conditioning Systems Market would witness market growth of 6.0% CAGR during the forecast period (2021-2027).
There is high adoption of commercial air conditioning systems across the hospitality & tourism sector including theaters, malls, cruise liners, hospitals, and other healthcare facilities, which is anticipated to augment the growth of the market over the forecast period. Along with that, the growing international tourism, the introduction of energy-efficient systems, increasing consumer spending on improving the home, and the growing popularity of green cooling approaches, are among the key aspects bolstering the growth of the market in the forecast years.
The Packaged Terminal Air Conditioner (PTAC) segment is projected to display a significant growth rate over the forecast period. The growing adoption of these package terminal air conditioners in the hospitality and residential sectors is estimated to propel the growth of the segment during the forecast period.
There are many people across this region are replacing their prevailing air conditioning systems with advanced and improved models, which are energy-efficient and can help them in reducing their electricity bills. In addition, numerous regional market players are incorporating advanced technologies for better performance with energy efficiency, which would accelerate the growth of the regional air conditioning systems market during the forecast period. Additionally, central air conditioning products are facing strict rules and regulations in the U.S. with Energy Star being a mandate.
The US market dominated the North America Air Conditioning Systems Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $29,129.4 million by 2027. The Canada market would experience a CAGR of 8.4% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 7.4% during (2021 - 2027).
Based on Type, the market is segmented into Unitary, Rooftop and PTAC. Based on Technology, the market is segmented into Non-Inverter and Inverter. Based on End User, the market is segmented into Residential, Commercial and Industrial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Air Conditioning Systems Market is Estimated to reach $154 Billion by 2027, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Hitachi, Ltd., Haier Smart Home Co., Ltd. (Haier Group Corporation), Whirlpool Corporation, Mitsubishi Electric Corporation, Trane Technologies PLC, Daikin Industries, Ltd., BSH Hausgeräte GmbH (Robert Bosch Group), Alfa Laval AB, and Electrolux AB.
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