Commercial Air Conditioners Market Will Exhibit A CAGR of 4.3%; Collaborations Between Major Players Will Support Growth

The global commercial air conditioners market volume is expected to reach 19.4 Million units by 2026. Improving economic conditions of emerging nations will aid growth of the market, says Fortune Business Insights in a report, titled “Commercial Air Conditioners Market Size, Share & Industry Analysis, By Type (Packaged Air Conditioners, VRF/VRV), By Refrigerants (R-32, R-410A/R-407C, R600A/R-290, Others) By End User (Healthcare, Educational/Institutional, Public/ Government, Retail, Hospitality, Manufacturing) and Regional Forecast, 2019-2026.” The market was accounted for 14 Million units annually in 2018 and is expected to exhibit a CAGR of 4.3% between 2019 and 2026.

According to the report, the commercial air conditioners market on the basis of end user is segmented into healthcare, educational/institutional, public, retail, hospitality, and manufacturing. The hospitality segment is expected to account for a maximum share during the forecast period owing to the growing tourism sector. The rapid development of the hospitality sector has fuelled demand for commercial air conditioners.

The presence of air conditioners is a necessity in the hospitality sector as it is considered as a quality standard globally. Nonetheless, the healthcare sector is expected to grow at the highest rate during the forecast period owing to the requirement of air conditioners in the healthcare facilities globally. The growing expansion of healthcare facilities in developing countries such as India, China, Brazil, UAE, and others is expected to fuel demand for air conditioners, which, will enable the growth of the market.

Increasing Infrastructure Investment Will Aid Growth

The increasing spending on infrastructure by government and key players is predicted to stimulate the growth of the market. The increasing number of commercial buildings that require installation of air conditioners will facilitate commercial air conditioners prices. The rising investments in infrastructure and collaborations between major players will aid growth. For instance, Toshiba Carrier Corporation and United Technologies Corporation have entered into a joint venture to establish a new company, Toshiba Carrier Air-Conditioning India Pvt Ltd, for expanding its footprint in the commercial air-conditioning segment in India. Furthermore, the surge in population, rapid urbanization and high temperatures in countries such as Bangladesh, Brazil, Ghana, India, Indonesia, Kenya, and Vietnam will accelerate the growth of the market.

Presence of Key Players Will Enable Growth in Asia Pacific

In terms of volume, the market in North America was projected at around 7.0 Million units in 2018 and is expected to remain dominant during the forecast period owing to the increasing usage of energy-efficient air conditioners. The declining energy consumption rate is expected to further fuel the demand for new and advanced air conditioners. The replacement of toxic or ozone-depleting refrigerants such as banning of R-22 refrigerant and rising shifting towards R-32 refrigerant from R-410A considering R-32 a very less toxic gas for the environment is expected to drive the market in North America.

The Asia Pacific market is expected to grow at a high pace owing to the increasing infrastructure spending, as well as rising demand for educational buildings, retail stores and healthcare facilities in nations such as India and China. Furthermore, the presence of major players in China will enable growth. Commercial air conditioners market trends in Asia pacific also include air conditioners at lesser prices as compared to global well-established brands which is predicted to contribute to the growth in the region during the forecast period.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/commercial-air-conditioner-ac-market-101675

The Global Commercial Air Conditioners Market Is Segmented Into: