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The market for air conditioning systems in North America was valued at USD 23.59 billion in 2022, and from 2023 to 2030, it is anticipated to rise at a 6.5% CAGR. One of the key drivers projected to propel the industry's growth is the rising demand for products that save energy and electricity. The market is expected to experience a wide range of new product development and innovation with the introduction of technology. It is anticipated that demand will increase as a result of inverter-based systems and natural refrigerants. Demand is also anticipated to be fueled by the growing need for power-saving ratings, stricter laws and regulations governing energy-efficient practises in the U.S., as well as increased consumer awareness.
Refrigerants used in air conditioning units are harmful and hazardous, which significantly contributes to global warming. Over the projected period, the availability of replacement items in the market is anticipated to fuel market expansion.
The country's increasing use of various air conditioners is also a result of the steadily rising temperatures in American cities like San Antonio, Texas, Phoenix, Arizona, and Fort Worth, Texas, as well as cities spanning the sun belt of South Western and Southern America, which are caused by global warming and climate change. The majority of American homes (88%) have air conditioning, according to the Residential Energy Consumption Survey conducted by the U.S. Energy Information Administration. Two-thirds of American homes utilise a central air conditioner or heat pump as their main AC system. The Midwest and South Census Regions had the greatest rates in 2020, with 92% and 93% of households using AC, respectively. The lowest percentage of households using AC was found in the West Census Zone, which includes residences in a range of temperature zones, including the marine climate zone along the Pacific Coast, where residential AC use was 49%.
Because of rising construction, the market for air conditioning systems in North America is anticipated to rise in terms of shipments. However, rivalry between well-established businesses and Chinese suppliers who sell their goods at lower rates could impede growth in North American nations like the United States and Canada. It is anticipated that non-profit organisations (NPOs), public forums, the media, and the government will take preventive efforts to raise end-user knowledge of environmental issues and stimulate use of eco-friendly equipment. Additionally, local manufacturers are expected to have decreased profitability as a result of the fierce competition from Chinese suppliers like Haier, Gree, and Midea. Due to strict energy efficiency standards, research and development expenditures for new products are predicted to increase. However, it is projected that businesses' sustained and unwavering focus on customer service will offer a chance to hold onto market share and generate profits.
The market is split into inverter and non-inverter technologies based on technology. Over 67% of the market was taken up by the inverter sector in 2022, and it is anticipated that this segment would increase at a CAGR of over 6% throughout the course of the forecast period. Manufacturers of air conditioning systems choose inverter technology because of features like the ability to change the frequency of the compressors' power source. Due to the compressor speed modification for regulating the gas flow rate, the inverter-based ACs use significantly less energy and may therefore change their working capacity. As a result, the demand is being favoured by its benefit of low energy usage and inexpensive bills.
Report Coverage
Global Air Conditioning Systems research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Air Conditioning Systems report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Air Conditioning Systems competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Air Conditioning Systems market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Air Conditioning Systems market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Air Conditioning Systems market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelik; BSH Group; Carrier Corporation; Daiki Industries Ltd; Electrolux; Haier Group; Hitachi Air Conditioning; Ingersoll Rand; LG Electronics; Mitsubishi Electric; Whirlpool Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Air Conditioning Systems market based on the below-mentioned segments:
Global Air Conditioning Systems Market, By Type
Unitary
Rooftop
PTAC
Global Air Conditioning Systems market, By Technology
Inverter
Non-Inverter
Global Air Conditioning Systems Market, By End User
Residential
Commercial
Industrial
Global Air Conditioning Systems market, Regional Analysis
Refrigerants used in air conditioning units are harmful and hazardous, which significantly contributes to global warming. Over the projected period, the availability of replacement items in the market is anticipated to fuel market expansion.
The country's increasing use of various air conditioners is also a result of the steadily rising temperatures in American cities like San Antonio, Texas, Phoenix, Arizona, and Fort Worth, Texas, as well as cities spanning the sun belt of South Western and Southern America, which are caused by global warming and climate change. The majority of American homes (88%) have air conditioning, according to the Residential Energy Consumption Survey conducted by the U.S. Energy Information Administration. Two-thirds of American homes utilise a central air conditioner or heat pump as their main AC system. The Midwest and South Census Regions had the greatest rates in 2020, with 92% and 93% of households using AC, respectively. The lowest percentage of households using AC was found in the West Census Zone, which includes residences in a range of temperature zones, including the marine climate zone along the Pacific Coast, where residential AC use was 49%.
Because of rising construction, the market for air conditioning systems in North America is anticipated to rise in terms of shipments. However, rivalry between well-established businesses and Chinese suppliers who sell their goods at lower rates could impede growth in North American nations like the United States and Canada. It is anticipated that non-profit organisations (NPOs), public forums, the media, and the government will take preventive efforts to raise end-user knowledge of environmental issues and stimulate use of eco-friendly equipment. Additionally, local manufacturers are expected to have decreased profitability as a result of the fierce competition from Chinese suppliers like Haier, Gree, and Midea. Due to strict energy efficiency standards, research and development expenditures for new products are predicted to increase. However, it is projected that businesses' sustained and unwavering focus on customer service will offer a chance to hold onto market share and generate profits.
The market is split into inverter and non-inverter technologies based on technology. Over 67% of the market was taken up by the inverter sector in 2022, and it is anticipated that this segment would increase at a CAGR of over 6% throughout the course of the forecast period. Manufacturers of air conditioning systems choose inverter technology because of features like the ability to change the frequency of the compressors' power source. Due to the compressor speed modification for regulating the gas flow rate, the inverter-based ACs use significantly less energy and may therefore change their working capacity. As a result, the demand is being favoured by its benefit of low energy usage and inexpensive bills.
Report Coverage
Global Air Conditioning Systems research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Air Conditioning Systems report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Air Conditioning Systems competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Air Conditioning Systems market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Arcelik; BSH Group; Carrier Corporation; Daiki Industries Ltd; Electrolux; Haier Group; Hitachi Air Conditioning; Ingersoll Rand; LG Electronics; Mitsubishi Electric; Whirlpool Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Air Conditioning Systems Market from 2021 to 2030.
- Market Forecast for Air Conditioning Systems Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Air Conditioning Systems competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Air Conditioning Systems
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Air Conditioning Systems market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Air Conditioning Systems market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelik; BSH Group; Carrier Corporation; Daiki Industries Ltd; Electrolux; Haier Group; Hitachi Air Conditioning; Ingersoll Rand; LG Electronics; Mitsubishi Electric; Whirlpool Corporation
Primary Target Market
- Market Players of Air Conditioning Systems
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Air Conditioning Systems market based on the below-mentioned segments:
Global Air Conditioning Systems Market, By Type
Unitary
Rooftop
PTAC
Global Air Conditioning Systems market, By Technology
Inverter
Non-Inverter
Global Air Conditioning Systems Market, By End User
Residential
Commercial
Industrial
Global Air Conditioning Systems market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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