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Commercial Air Conditioning System Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Installation Type, by End- User : Global Opportunity Analysis and Industry Forecast, 2024-2032

Commercial Air Conditioning System Market Size, Share, Competitive Landscape and...

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Commercial Air Conditioning System Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Installation Type, by End- User : Global Opportunity Analysis and Industry Forecast, 2024-2032
Commercial Air Conditioning System Market...
Report Code
RO6/128/1082

Publish Date
24/Jun/2024

Pages
200
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The global commercial air conditioning system market revenue was around US$ 41.8 billion in 2023 and is estimated to reach US$ 62.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2024 to 2032.
Commercial air conditioning systems are large-scale refrigeration and dehumidification systems used to regulate and cool commercial or industrial buildings' temperature and humidity levels, such as offices, hospitals, hotels, schools, factories, and other large spaces. These systems use state-of-the-art technology to cool, filter, and circulate air throughout the building, providing occupants with a comfortable and healthy indoor environment.
Factors Influencing Market Growth
- With the increasing awareness of indoor air quality and its health and comfort impacts on a person, the demand for commercial air conditioning systems is increasing. This is propelling market growth.
- As companies search for methods to lower their energy expenses and carbon footprint, a variety of energy-efficient air conditioning systems are gaining popularity. This is increasing the demand for energy-efficient air conditioning systems, thus expanding the market.
- AI and IoT integration into commercial air conditioning systems can enable proactive maintenance, automated system performance optimization, and remote monitoring and control, resulting in energy consumption, improved indoor air quality, and increased productivity and comfort for building occupants. This is increasing the demand for commercial air conditioning systems, driving market growth.
- High installation and maintenance costs may hinder market growth.
Impact of COVID-19
COVID-19 impacted the market negatively. This is because there was a drop in the demand for commercial air conditioning equipment as a result of the pandemic, which caused many businesses, offices, and public spaces to either temporarily close or only partially occupied. However, since stores and public areas have begun to reopen, there has been a greater demand for air conditioning systems that can successfully regulate and stop the virus's spread. Additionally, labor shortages and material acquisition issues have caused a delay in the production of HVAC equipment. Due to travel and movement restrictions, delays in the procurement of components and raw materials, and other disruptions in the supply chain, COVID-19 has also resulted in a labor shortage. As a result, the production and delivery of commercial air conditioning systems were hindered. Since the healthcare industry received the lion's share of government funding, the global economic downturn also had an impact on the establishment of new commercial air conditioning system projects.
Regional Insights
Asia-Pacific dominated the market in 2023. This is a result of the region becoming more urbanized, which fuels an increase in building activity. This has led to a rise in demand for commercial air conditioning systems in the region. The expansion of office buildings, shopping centers, and other commercial areas is contributing to the rapid expansion of the commercial sector in the Asia-Pacific region. Due to rising disposable income in this region, more people are opting to install air conditioning systems in their homes and workplaces, which is driving up demand for commercial air conditioning systems. Demand for energy-efficient air conditioning systems is a result of the Asia-Pacific region's governments taking steps to reduce greenhouse gas emissions.
Leading Competitors
- Panasonic Corporation
- Carrier
- Mitsubishi Electric Corporation
- Voltas, Inc.
- Hitachi, Ltd.
- Haier Inc.
- Daikin Industries, Ltd.
- Fujitsu general
- LG Electronics
- Blue Star Limited
- Other Prominent Players

Segmentation Analysis
The global commercial air conditioning system market segmentation focuses on installation type, end user, type, and region.
Segmentation based on Installation Type
- New Installation
- Retrofit

Segmentation based on End User
- Office and Buildings
- Hospitality
- Supermarkets/Hypermarkets
- Transportation
- Government
- Healthcare
- Others

Segmentation based on Type
- VRF
- Ducted Split/Packaged Unit
- Split Units
- Room ACs
- Others (Chillers)

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa

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