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Global Commercial Air Condition (AC) Market to Reach a Volume of 28.66 million units by 2032, Aided by Adoption of Energy Efficient Smart Air Conditions

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Global Commercial Air Conditioner (AC) Market Size, Forecast: By Type: Chillers, Split Units, Packaged Unit, Variable Refrigerant Flow (VRF), Others; By Installation Type: New Installation, Retrofit; By End User: Healthcare, Educational/ Institutional, Public/ Government, Retail, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Commercial Air Conditioner (AC) Market Outlook

The global commercial air conditioner (AC) market stood at around 19.53 million units in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.4% to reach nearly 28.66 million units by 2032.

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.

Global Commercial Air Conditioner (AC) Market

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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.

Global Commercial Air Conditioner (AC) Market

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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.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
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 United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
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.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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   Opportunities and Challenges in the Market
8   Global Commercial Air Conditioner (AC) Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Commercial Air Conditioner (AC) Historical Market (2018-2023)
   8.3   Global Commercial Air Conditioner (AC) Market Forecast (2024-2032)
   8.4   Global Commercial Air Conditioner (AC) Market by Type
       8.4.1   Chillers
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Split Units
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   Packaged Unit
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
       8.4.4   Variable Refrigerant Flow (VRF)
           8.4.4.1 Historical Trend (2018-2023)
           8.4.4.2 Forecast Trend (2024-2032)
       8.4.5   Others
   8.5   Global Commercial Air Conditioner (AC) Market by Installation Type
       8.5.1   New Installation
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Retrofit
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global Commercial Air Conditioner (AC) Market by End User
       8.6.1   Healthcare
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Educational/ Institutional
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Public/ Government
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Retail
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Hospitality
           8.6.5.1 Historical Trend (2018-2023)
           8.6.5.2 Forecast Trend (2024-2032)
       8.6.6   Manufacturing
           8.6.6.1 Historical Trend (2018-2023)
           8.6.6.2 Forecast Trend (2024-2032)
   8.7   Global Commercial Air Conditioner (AC) Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Commercial Air Conditioner (AC) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Commercial Air Conditioner (AC) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Commercial Air Conditioner (AC) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Commercial Air Conditioner (AC) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Commercial Air Conditioner (AC) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Johnson Controls International plc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 LG Electronics Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Mitsubishi Electric Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Daikin Industries Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Commercial Air Conditioner (AC) Market: Key Industry Highlights, 2018 and 2032
2.   Global Commercial Air Conditioner (AC) Historical Market: Breakup by Type (Million Units), 2018-2023
3.   Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Type (Million Units), 2024-2032
4.   Global Commercial Air Conditioner (AC) Historical Market: Breakup by Installation Type (Million Units), 2018-2023
5.   Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Installation Type (Million Units), 2024-2032
6.   Global Commercial Air Conditioner (AC) Historical Market: Breakup by End User (Million Units), 2018-2023
7.   Global Commercial Air Conditioner (AC) Market Forecast: Breakup by End User (Million Units), 2024-2032
8.   Global Commercial Air Conditioner (AC) Historical Market: Breakup by Region (Million Units), 2018-2023
9.   Global Commercial Air Conditioner (AC) Market Forecast: Breakup by Region (Million Units), 2024-2032
10.   North America Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2018-2023
11.   North America Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2024-2032
12.   Europe Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2018-2023
13.   Europe Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2024-2032
14.   Asia Pacific Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2018-2023
15.   Asia Pacific Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2024-2032
16.   Latin America Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2018-2023
17.   Latin America Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2024-2032
18.   Middle East and Africa Commercial Air Conditioner (AC) Historical Market: Breakup by Country (Million Units), 2018-2023
19.   Middle East and Africa Commercial Air Conditioner (AC) Market Forecast: Breakup by Country (Million Units), 2024-2032
20.   Global Commercial Air Conditioner (AC) Market Structure

Key Questions Answered in the Report

What was the global commercial air conditioner (AC) market size in 2023?

In 2023, the global commercial air conditioner (AC) market attained a volume of nearly 19.53 million units.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 4.4% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 28.66 million units by 2032.

What are the major industry drivers?

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.

What are the key industry trends of the global commercial air conditioner (AC) 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.

What are the major regional markets of commercial air conditioner (AC), according to the EMR report?

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

What are the different types of commercial air conditioner (AC)?

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

What are the major segments based on installation type, considered within the market report?

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

What are the significant end users of commercial air conditioner (AC) in the industry?

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

Who are the key industry players, according to the report?

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 19.53 million units in 2023, 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 2024-2032, growing at a CAGR of 4.4%. The market is projected to reach 28.66 million units by 2032.

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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