Published Date: 22-Dec-2021
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According to a new report Global Air Conditioning Systems Market, published by KBV research, The Global Air Conditioning Systems Market size is expected to reach $154 billion by 2027, rising at a market growth of 6.2% CAGR during the forecast period.
The growing demand for these ACs from the thriving residential sector is anticipated to maintain the demand for unitary air conditioning systems. In addition, a unitary AC could be simply coupled with the warm furnaces within the one ductwork in commercial as well as residential buildings that would fuel the growth of the segment.
Some other advantages of these ACs are longer durability, no temperature fluctuations, less noise, faster cooling as compared to non-inverter ACs, which would accelerate the demand for inverter technology during the forecast period.
Commercial AC units need a considerable amount of space and are usually situated on the rooftops of the buildings like hotels, shopping malls, theaters, big restaurants, and commercial offices that accounted for the optimum consumption of energy. Therefore, replacement and retrofitting of these units to reduce the consumption of energy are estimated to surge the adoption of AC within the commercial segment.
The COVID-19 pandemic has negatively impacted the demand for AC systems across the world but North America and Europe did not display a similar trend due to the higher demand for the AC systems in the last quarter of 2020.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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