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Global Commercial Air Condition (AC) Market to Reach a Volume of 23.12 Million Units by 2027, Aided by Adoption of Energy Efficient Smart Air Conditions

According to a new report by EMR titled, ‘Global Commercial Air Condition (AC) Market Report and Forecast 2021-2026’, the global commercial air conditioner (AC) market stood at around 17.94 million units in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 4.35% to reach nearly 23.12 million units by 2027.

The global commercial air conditions industry is mainly driven by the booming construction sector, increasing replacement market, energy efficiency regulations, and technological advancements. The development of commercial infrastructure, including office buildings, recreational zones, and hypermarkets/supermarkets, is being vigorously pursued to cater to the rising urban population, thereby driving the market's growth. The online sales channel has enabled businesses to expand their distribution reach and serve customers in even the most remote areas, supporting the growth of the global air conditioners market. One of the primary drivers of the global air conditioners market is rising GDP per capita income. Also, a growing number of multinational companies are searching for office space in the newly emerging cities, which is likely to impel the growth of the air conditioners market globally. The hospitality division is expected to grow in the commercial AC market during the forecast period, as the tourism sector is growing. The international tourism activities are rising as FIFA World Cup 2022 and 2026, and World Expo are expected to bring loads of people to the host countries to cater to whom hotels are being constructed, which will create a high demand for commercial cooling systems.

New cooling equipment is being introduced by players in the commercial air conditioning market to attract clients and gain a competitive advantage. For example, Mitsubishi Electric Corporation (OTCMKTS: MIELY) introduced a VRF system with the R32 refrigerant in the United Kingdom in September 2019 to meet the growing demand for environmentally friendly electrical equipment.

Market Analysis by Type, Installation Type, End-User, and Regions:

  • The type of the product into chillers, split units, packaged unit, and variable refrigerant flow (VRF), among others.
  • The installation types include new installation and retrofit.
  • Based on end-use, the industry can be divided into healthcare, educational/ institutional, public/ government, retail, hospitality, and manufacturing.
  • The regional markets for commercial air condition (AC) include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing population and urbanisation are the key driver for the commercial AC market.
  • The growing middle-class population and rising disposable income are further expected to drive the market growth.
  • The rapidly growing replacement and refurbishment activities in the residential sector are anticipated to elevate the adoption of air conditioning systems.
  • With the tough competition in the AC systems market for getting better sales, companies often offer equipment at lower prices, thus boosting the demand for commercial AC market globally.

Key Offerings of the report:

  • The EMR report gives an overview of the commercial air condition (AC) market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for type, installation type, end-user, and major regions of commercial air condition (AC).
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global commercial air condition (AC) market are Johnson Controls International plc, Electronics Inc., Mitsubishi Electric Corporation, and Daikin Industries Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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