Skip to main content

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.

Comments

Post a Comment

Popular posts from this blog

Business Impacts of COVID-19 on AR and VR Market Strategies of Major Industry Competitors

The global augmented reality (AR) and virtual reality (VR) market generated a revenue of $37.0 billion in 2019 and it is predicted to progress at a CAGR of 42.9% between 2020 and 2030. Furthermore, the market will reach a value of $1,274.4 billion by 2030. The increasing adoption of the AR and VR technologies in the healthcare, entertainment, education, gaming, and tourism sectors is one of the major factors fueling the advancement of the market across the globe. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/augmented-reality-and-virtual-reality-market/report-sample   Besides the aforementioned factor, the growing usage of smartphones and tablet computers is also propelling the expansion of the AR and VR industry across the world. According to various reports, the total number of smartphone users all over the world is predicted to rise to 3.5 billion by 2020, registering a growth rate of 9.3% from 2019. As smartphones are suitable hardware i...
Post a Comment
Read more

How Is 5G Infrastructure Enhancing Reliability of IoT-Enabled Devices?

To cater to the needs of end users, Ciena Corporation, Samsung Electronics Co. Ltd., China Mobile Ltd., KT Corporation, American Tower Corp., Hewlett Packard Enterprise Development LP, Airspan Networks Inc., Cisco Systems Inc., NEC Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Affirmed Networks Inc., Telefonaktiebolaget LM Ericsson, and others are introducing new and advanced solutions and collaborating with other organizations to offer a strong 5G infrastructure. For instance, in June 2019, AT&T Inc. entered into a collaboration with International Business Machines (IBM) Corporation to provide edge computing and wireless 5G networking for business entities. The end user segment of the 5G infrastructure market is categorized into government, commercial, residential, and industrial. Among these, the industrial category is projected to witness the fastest growth during the forecast period, owing to the increasing advancements in IoT technology and expanding opportunities ...
Post a Comment
Read more

How Are Electronic Transactions Propelling Fraud Detection and Prevention System Usage?

To combat the various types of threats effectively, market players like TransUnion LLC and SAS Institute Inc. are offering a hybrid analytical approach. This approach integrates various aspects of fraud detection into one technological solution. Such integrated applications swiftly connect each and every aspect of the fraudulent activity and analyze each strand individually as a potentially greater threat. Thus, These solutions provide a holistic view of fraudulent behavior and support prepayment detection and prevention. Geographically, the North American fraud detection and prevention market generated the highest revenue in 2018. This was due to the wide-scale adoption of cloud-based technologies in small and large businesses, which has resulted in a significant number of fraudulent activities. Moreover, the extensive research and development (R&D) being undertaken for integrating the internet of things (IoT) technology in fraud detection and prevention systems will steer the ma...
Post a Comment
Read more