Asia Pacific Commercial Air Conditioner Market to Reach USD 17.21 Billion by 2029; Extensive Adoption of Energy-efficient Inverter Air Conditioners (ACs) to Boost Market Progress

The Asia Pacific commercial air conditioner market size is expected to exhibit strong growth by reaching USD 17.21 billion by 2029. Fortune Business Insights™ in its report titled “Asia Pacific Commercial Air Conditioner Market Size, Share & COVID-19 Impact Analysis, By Type (Packaged AC and VRF/VRV), By Refrigerant (R-32, R-410A/R-407C, R-600A/R-290, and Others), By End-User (Healthcare, Educational/Institutional, Public/Government, Retail, Hospitality, and Manufacturing), and Country Forecast, 2022-2029”, observes that the market size in 2021 stood at USD 12.18 billion and reached USD 12.67 billion in 2022. The market is expected to grow at a CAGR of 4.5% during 2022-2029. Increasing adoption of energy-efficient inverter air conditioners (ACs) and Foreign Direct Investments (FDI) may bolster the industry progress.

Carrier Launched its Novel Product Line-up with Variable Speeds to Enhance Brand Image

Carrier launched its Weather Expert commercial rooftop units equipped with EcoBlue technology in September 2020. The models are 48JC gas/electric and 50JC and offer variable speeds. This launch may enable the company to enhance its brand image.

Manufacturing Restrictions to Hinder Market Progress

This market is likely to be negatively affected during the COVID-19 pandemic due to manufacturing restrictions. Rising COVID-19 infections led to a halt on manufacturing, leading to the lack of raw materials. Further, travel restrictions are likely to hinder the supply chain. However, the resumption of manufacturing activities and robust demand for air conditioners from commercial spaces may enable companies to recover costs and enhance their sales. These factors may elevate the market’s progress during the pandemic.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/asia-pacific-commercial-air-conditioner-market-105467

Rising Construction Projects to Enhance AC Adoption

The increasing focus on developing infrastructural facilities may enhance the demand for air conditioners. Increasing development projects in China, the Philippines, Malaysia, Indonesia, Thailand, and Vietnam are expected to surge commercial air conditioner demand from offices. Moreover, the presence of various startups and offices may boost commercial air conditioner adoption. Also, the strong adoption of packaged ACs at lower prices in China may drive the Asia Pacific commercial air conditioner market growth.

However, the threat of refrigerants causing global warming is expected to hinder the market progress.

Major Players Launch Novel Products to Improve Brand Image

Prominent players operating in the market announce new product line-ups to increase sales and enhance their brand image. For example, SAMSUNG launched its new VRF Air Conditioning Systems product range developed for home establishments and commercial spaces in January 2021. This development may allow Samsung to spike its sales and improve its brand image worldwide. In addition, major players adopt research and development, partnerships, acquisitions, mergers, and expansions to achieve organizational goals and boost their market position.

Notable Industry Development

• October 2020- Bluestar Limited announced its slew of commercial air conditioners that offer Virus Detection Technology. The product is designed specifically for malls, airports, cinemas, ATMs, and other commercial spaces.

List of Key Players Profiled in the Report

• Carrier (U.S.)
• DAIKIN INDUSTRIES, Ltd. (Japan)
• Johnson Controls (Ireland)
• Mitsubishi Electric Corporation (Japan)
• LG Electronics (South Korea)
• SAMSUNG (South Korea)
• Trane (Ingersoll Rand) (Ireland)
• Blue Star Limited (India)
• FUJITSU (Japan)
• AIREDALE INTERNATIONAL AIR CONDITIONING LTD. (U.K.)

Further Report Findings

• The market in India stood at USD 0.96 billion in 2021 and is expected to gain a huge portion of the Asia Pacific commercial air conditioner market share during the forecast period.
• The robust demand for commercial ACs from the retail and healthcare sectors is expected to propel the industry’s progress.
• Furthermore, increasing emphasis on decreasing energy consumption may fuel the market progress.

Report Scope & Segmentation