Global Commercial AC Market Sales to Cross 25.4 Million Units By 2030

P&S Intelligence

NEW YORK, Sept. 21, 2020 /PRNewswire/ -- According to P&S Intelligence, global commercial AC market is predicted to reach 25.4 million units by 2030, increasing from 17.6 million units in 2019, progressing at a 3.5% CAGR during the forecast period (2020–2030). The increasing disposable income of people is allowing to buy products which were considered a luxury before, including ACs. Moreover, the expanding construction sector, owing to surging urban population and growing tourist activities, is also projected to contribute to the growth of the market.

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On the basis of end user, the offices & buildings category accounted for the largest share of the commercial air conditioner (AC) market during 2014–2019, since investments for constructing office buildings and stadia are increasing. Moreover, the World Green Building Council and various other European banks are offering energy efficiency mortgage schemes, which is further expected to result in the growth of the market in the years to come.

The mortgage schemes will drive the construction of green buildings, thereby leading to the increasing requirement for energy-efficient variable refrigerant flow systems. In addition to all this, the integration of heating, ventilation, and air conditioning systems has been made mandatory for offices and buildings in a number of emerging economies for temperature control and proper airflow.

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In terms of type, the split unit category accounted for the major share of the commercial AC market in 2019, owing to the fact that these ACs can be utilized independently with one outdoor compressor for appropriate and effective cooling. Moreover, these ACs are more cost-effective and provide more efficient cooling for commercial spaces as compared to other variants. While it is slightly hard to install split ACs, they are much easier to operate and maintain, thereby making them the popular choice.