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Global Commercial Air Conditioner (AC) Market: By Type: Chillers, Split Units, Packaged Unit, Variable Refrigerant Flow (VRF), Others; By Installation Type: New Installation, Retrofit; By End User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Commercial Air Conditioner (AC) Market Outlook

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.

 

Hospitality Segment to Exhibit a Significant Growth in the Forecast Period

Based on end user, the hospitality segment is predicted to experience a significant growth in the forecast period. The growth of the travel and tourism industry, high disposable income levels, increasing installation of advanced systems to enhance hotel guest satisfaction and increase retention, and rapidly increasing population are projected to boost the growth of the market. Moreover, the rising demand for energy-efficient cooling systems is predicted to drive the growth of the market.

 

Global Commercial Air Conditioner (AC) Market

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The Asia Pacific Region is Expected to Observe a Significant Growth in the Forecast Period

Geographically, the commercial air conditioner (AC) industry in the Asia Pacific is expected to witness a significant growth in the forecast period owing to the rapid urbanisation and industrialisation in developing economies such as India and China. Additionally, rising temperatures due to climate change and high demand for cooling equipment in the region are driving the growth of the market. Moreover, increasing population, improvements in living standards, and growing residential and commercial construction activities are expected to propel the growth of the commercial air conditioner (AC) industry in the Asia Pacific region in the forecast period.

 

Commercial Air Conditioner (AC): Market Segmentation

A commercial air conditioner (AC) is a system or a machine that uses a refrigeration cycle to treat air in a specific, generally enclosed space by removing warm air and replacing it with colder air. Commercial air conditioner usually combines the heating and cooling units into a single rooftop package, preventing the noise from interfering with the work of the inhabitants and help the business conserve physical space.

Based on type, the industry can be categorised into:

  • Chillers
  • Split Units 
  • Packaged Unit
  • Variable Refrigerant Flow (VRF)
  • Others

On the basis of installation type, the industry can be segmented into:

  • New installation 
  • Retrofit

Based on end user, the industry can be divided into:

  • Healthcare
  • Educational/ Institutional 
  • Public/ Government
  • Retail
  • Hospitality
  • Manufacturing

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Energy-Efficient AC Units to Bolster the Growth of the Global Commercial Air Conditioner (AC) Industry

The market for commercial air conditioner (AC) has been growing considerably for the last few years owing to the changing lifestyle and the increasing product demand from high temperature regions. The combined effects of ozone depletion and the El Nino effect have resulted in a gradual rise in world average temperature, making the spring and summer seasons warmer. Along with this, the increasing population and the rapid industrialisation and urbanisation have been contributing to the growth of the market. Over the forecast period, the increasing per capita income and constantly worsening atmospheric conditions are predicted to be the major factors propelling the demand for energy-efficient air conditioners. Additionally, rapidly growing commercialisation, booming construction sector, increasing replacement market, energy efficiency regulations, and increasing technological advancements are expected to significantly drive the growth of the market.

 

Key Industry Players in the Global Commercial Air Conditioner (AC) Market

The report gives a detailed analysis of the following key players in the global commercial air conditioner (AC) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Johnson Controls International plc
  • LG Electronics Inc.
  • Mitsubishi Electric Corporation
  • Daikin Industries Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Installation Type, End User, Region
Breakup by Type Chillers, Split Units, Packaged Unit, Variable Refrigerant Flow (VRF), Others
Breakup by Installation Type New Installation, Retrofit
Breakup by End User  Healthcare, Educational/ Institutional, Public/ Government, Retail, Hospitality, Manufacturing
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Johnson Controls International plc, LG Electronics Inc., Mitsubishi Electric Corporation, Daikin Industries Limited, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

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

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Commercial Air Conditioner (AC) Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Commercial Air Conditioner (AC) Historical Market (2017-2021) 
    8.3    Global Commercial Air Conditioner (AC) Market Forecast (2022-2027)
    8.4    Global Commercial Air Conditioner (AC) Market by Type
        8.4.1    Chillers
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Split Units 
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Packaged Unit
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Variable Refrigerant Flow (VRF)
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Others
    8.5    Global Commercial Air Conditioner (AC) Market by Installation Type
        8.5.1    New Installation
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Retrofit
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Commercial Air Conditioner (AC) Market by End User 
        8.6.1    Healthcare
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Educational/ Institutional 
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Public/ Government
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Retail
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Hospitality
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2017-2021)
            8.6.5.3    Forecast Trend (2022-2027)
        8.6.6    Manufacturing 
            8.6.6.1    Market Share
            8.6.6.2    Historical Trend (2017-2021)
            8.6.6.3    Forecast Trend (2022-2027)
    8.7    Global Commercial Air Conditioner (AC) Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Johnson Controls International plc
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    LG Electronics Inc.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Mitsubishi Electric Corporation
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Daikin Industries Limited
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Commercial Air Conditioner (AC) Market: Key Industry Highlights, 2017 and 2027
2.    Global Commercial Air Conditioner (AC) Historical Market: Breakup by Type (Million Units), 2017-2021
3.    Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Type (Million Units), 2022-2027
4.    Global Commercial Air Conditioner (AC) Historical Market: Breakup by Installation Type (Million Units), 2017-2021
5.    Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Installation Type (Million Units), 2022-2027
6.    Global Commercial Air Conditioner (AC) Historical Market: Breakup by End User (Million Units), 2017-2021
7.    Global Commercial Air Conditioner (AC) Market Forecast: Breakup by End User (Million Units), 2022-2027
8.    Global Commercial Air Conditioner (AC) Historical Market: Breakup by Region (Million Units), 2017-2021
9.    Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Region (Million Units), 2022-2027
10.    North America Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2017-2021
11.    North America Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2022-2027
12.    Europe Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2017-2021
13.    Europe Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2022-2027
14.    Asia Pacific Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2017-2021
15.    Asia Pacific Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2022-2027
16.    Latin America Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2017-2021
17.    Latin America Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2022-2027
18.    Middle East and Africa Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2017-2021
19.    Middle East and Africa Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2022-2027
20.    Global Commercial Air Conditioner (AC) Market Structure

Key Questions Answered in the Report

In 2021, the global commercial air conditioner (AC) market attained a volume of nearly 17.94 million units.

The market is projected to grow at a CAGR of 4.35% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach 23.12 million units by 2027.

The major drivers of the industry, such as the increasing population, rapid industrialisation and urbanisation, rising disposable income, and growing technological advancements, are expected to aid the growth of the market.

The key market trends guiding the growth of the industry include the constantly worsening atmospheric conditions and the growing demand for energy-efficient AC units.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Chillers, split units, packaged unit, and variable refrigerant flow (VRF), among others are the different types of the product.

The major installation types considered within the market report are new installation and retrofit.

The end user includes healthcare, educational/ institutional, public/ government, retail, hospitality, and manufacturing.

The major players in the industry are Johnson Controls International plc, LG Electronics Inc., Mitsubishi Electric Corporation, and Daikin Industries Limited, among others.

Analyst Review

The global commercial air conditioner (AC) market attained a volume of 17.94 million units in 2021, driven by the rapidly increasing population and urbanisation. Aided by the growing consumer preference for energy-efficient AC units, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 4.35%. The market is projected to reach 23.12 million units by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of type, the market can be categorised into chillers, split units, packaged unit, and variable refrigerant flow (VRF), among others. Based on installation type, the industry can be divided into new installation and retrofit. Based on end user, the market can be divided into healthcare, educational/ institutional, public/ government, retail, hospitality, and manufacturing. The major regional markets for commercial air conditioner (AC) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Johnson Controls International plc, LG Electronics Inc., Mitsubishi Electric Corporation, and Daikin Industries Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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