Global Central Air Conditioning Market Forecast, Trend Analysis And Competition Tracking - Global Market insights 2015 to 2031

Central Air Conditioning Market: Introduction

A central air conditioning system involves outdoor and indoor units and piping to carry out the airflow. The central air-conditioning system uses ducts to distribute cooled air throughout the house. In the centralized ac systems, the cooled air is stored at a centralized location on the site. These systems are commonly used in public places, hotels, shopping malls, cinema theatres, and residential places.

Global Central Air Conditioning Market Revenue Outlook:

The Global Central Air Conditioning Market was valued at US$ 54.32 Bn in 2020 and is projected to register а САGR of 7.9% by 2031.

Nonetheless, various industry players in the global central air conditioning market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

What factors are Increasing the Demand for Central Air Conditioning?
Increasing demand for air conditioning systems from several residential, commercial, and industrial sectors, owing to its benefits over traditional solutions, is expected to fuel the revenue growth for this target market.  In addition, technological developments in electronic products coupled with innovative technologies are expected to promote revenue growth for these sectors over the forecast period.

Import-Export Data of Window or wall air conditioning machines, self-contained or "split-system" under HS code 84XXXX, 2016-2020

Year	Import (US $ Thousand)	Export (US $ Thousand)
2020	14776059	16196072
2019	15247370	16858306
2018	15115938	16922734
2017	XX	XX
2016	XX	XX

Source:trademap.org

Opportunities for manufacturers of the Central Air Conditioning

In the United States and other parts of the world, the widespread use of central air-conditioning has the most significant potential impact on energy conservation. In addition, government support for energy conservation may adopt a higher proportion of central air-conditioning systems, driving market revenue growth in the next few years. Meeting the increasing power demand for air conditioners is a challenge for policymakers. However, it also provides a significant opportunity to save energy and reduce greenhouse gases through well-designed regulations. Manufacturers worldwide are exploring ways to change the market to find cost-effective energy-saving measures to respond to consumer needs. This is also another factor expected to create profitable opportunities for manufacturers to gain a competitive advantage in this target market.

Total Number Of Air Conditioners Shipments In The US From 2017 To 2020 (In Millions)

COVID–19 Impact

The COVID-19 pandemic has adversely impacted national revenue growth, including the slowdown of critical trade activities across several countries. The primary factor behind this slowdown is various countermeasures adopted by respective governments to curb the trajectory of this virus. As significant economies enforce precautionary lockdowns, a considerable gap between market supply and demand is being created, resulting in increased difficulties for both manufacturers and distributors to manage their respective operations effectively. This is also a factor that is anticipated to influence prospects for revenue growth. However, as these lockdowns are gradually lifted and economies begin to recover, this market is expected to regress to its post-COVID state. This factor is expected to limit the demand and revenue growth for this target market.

Air Conditioner Demand Worldwide, By Region (in Millions)

Market Dynamics

The global central air conditioner market is segmented based on product type, end-user, and regions. Under product type segmentation, the central plant/chilled water segment is expected to account for the majority revenue share of this target market. In 2019, the central plant/chilled water segment is valued at US$ XX Mn, and the market share was 63.0%, and it is expected to be US$ XX Mn in 2030, with a CAGR of 7.9% from 2020 to 2030. The commercial segment is expected to account for this sector's most significant revenue shares among the end-user segment.

The Global Central Air Conditioning Market is categorized into North America, Europe, APAC, Latin America, and MEA. The North American market is estimated to contribute XX% revenue share in 2019 and is also expected to grow at a CAGR of approximately 7.6% during the forecast period. Among regions, the Asia-Pacific region is estimated to account for the maximum number of revenue shares and are also expected to retain their respective market position in the years to come.

Competitive Landscape

The leading manufacturers operating in the central air conditioning sector is mentioned below

• Hitachi
• United Technologies Corp.
• Mitsubishi Electric Corporation
• Johnson Controls (York)
• Gree Electric Appliances Inc.
• DAIKIN INDUSTRIES Ltd.
• Ingersoll-Rand (Trane)
• GEA Group AG
• Lennox International Inc.
• Aermec SpA
• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Segments Covered

Global Central Air Conditioning Market Segmented, By Product Type

• Direct Expansion (DX)
• Central Plant/Chilled Water

Global Central Air Conditioning Market Segmented, By End-User

• Residential
• Commercial
• Automotive