The
North America air conditioning systems market is expected to reach USD 52.56
billion by 2020, according to a new study by Grand View Research, Inc.
Increasing construction expenditure is expected to drive the market across
residential, commercial and industrial sectors. Additionally, favorable
regulatory initiatives for energy efficiency are also expected to fuel market
growth over the next six years.
Technological
advancement has bolstered product development and innovation. High degree of
competition from other regional markets, coupled with lower prices of products
offered by Chinese manufacturers may hinder the industry in North America over
the forecast period. Growing application areas, such as the use of portable air
conditioning systems in tents for outdoor activities is expected to be an
opportunity for industry participants over the next six years.
In depth research report on North America Air
Conditioning Systems Market
Further key findings from the study suggest:
·
Split air conditioning systems
accounted for over 60% of the overall market revenue in 2013. They offer a high
degree of flexibility and are relatively cost effective to install. In addition,
split air conditioners offer a large amount of control to the user, since each
conditioner functions as a separate unit. Portable air conditioners are
expected to witness the fastest growth over the forecast period, mainly due to
the high level of convenience they provide.
·
Residential application
accounted for over 40% of the market in 2013, and is further expected to remain
the largest segment through the forecast period. Commercial applications such
as the tourism and construction industries are expected to grow faster than the
global average over the next six years.
·
The U.S. contributed to over
83% of the revenue generation in North America in 2013, and is expected to
continue dominating the market over the forecast period. This can be attributed
to energy efficiency guidelines set by the US Environmental Protection Agency
(EPA). Mexico is expected to be the fastest growing regional market, at an
estimated CAGR of 10.3% from 2014 to 2020.
·
Key industry participants
employ strategies such as mergers, acquisitions and strategic collaborations to
gain market share. Daikin Industries Ltd., Ingersoll-Rand, Carrier Corporation,
Hitachi, Johnson Controls, Mitsubishi, etc. are among the companies operating
in the market.
Grand
View Research has segmented the North America air conditioning systems market
on the basis of product, application and region:
Air Conditioning Systems Product Outlook (Volume,
Thousand Units and Revenue, USD Million; 2012 - 2020)
·
Portable Air Conditioning
Systems
·
Window Air Conditioning Systems
·
Split Air Conditioning Systems
·
Single Packaged Air
Conditioning Systems
·
Chillers
·
Airside Conditioning Systems
Air Conditioning Systems Application Outlook
(Volume, Thousand Units and Revenue, USD Million; 2012 - 2020)
·
Residential
·
Commercial
·
Industrial
Air Conditioning Systems Regional Outlook (Volume,
Thousand Units and Revenue, USD Million; 2012 - 2020)
·
U.S.
·
Canada
·
Mexico
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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