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Commercial AC Market Technological Advancements, Evolving Industry Trends and Insights

A number of factors such as the surging construction activities, owing to a massive rise in urban population and tourist activities, and soaring disposable income of the people in emerging economies are expected to drive the commercial air conditioner (AC) market at a CAGR of 3.5% during the forecast period (2020–2030). According P&S Intelligence, the market size is projected to increase from 17.6 million units in 2019 to 25.4 million units by 2030.

One of the prominent growth drivers for the market is the expanding construction industry, primarily on account of rapid urbanization and a surge in tourist activities across the world. Moreover, the increasing government investments being made in the infrastructure sector will also boost the demand for commercial ACs in the coming years. Infrastructure units such as metro rail systems, airports, and office complexes require commercial ACs in abundance.


For instance, the upcoming airports and metro stations in India and skyscrapers in the U.S. and the U.K. are generating a huge demand for these cooling systems. In recent years, the escalating use of low-global-warming-potential (GWP) refrigerants has become a major trend in the commercial AC market. At present, AC manufacturers use R22, R404A, and R507 refrigerants, which are based on chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs), due to their easy availability.

However, the soaring awareness about the adverse effects of such refrigerants has resulted in the large-scale adoption of R32 and other low-GWP variants across the world. Geographically, Asia-Pacific (APAC) accounted for the largest share in the commercial AC market during the historical period (2014–2019), and it is also expected to demonstrate the fastest growth during the forecast period. This can be attributed to the growth of the construction sector in the region.

Moreover, the booming population, especially in India and China, and mounting disposable income of people will also contribute to the market growth in the in the region in the foreseeable future. Thus, the flourishing construction industry, especially in developing countries, will steer the market growth in the forthcoming years.

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