With the expansion of the construction industry, the demand for commercial air conditioners (ACs) is growing rapidly across the globe. As per various reports, the valuation of the global construction industry is predicted to rise from $10.5 trillion in 2017 to $12.8 trillion by 2022. The governments of several countries are launching massive infrastructural development projects such as the building of office complexes, airports, and rail systems, which is massively pushing up the demand for commercial ACs.
For example, India aims to build 100 airports over the next 15 years, while, China plans to complete the construction of 216 airports by 2035. Similarly, the building of skyscrapers (115 in London, U.K. and 42 in Chicago, Illinois, U.S.) is also positively impacting the sales of commercial ACs as they are heavily required in these buildings. Apart from this, the surging disposable income of people, especially in the developing countries, is also fueling the sales of commercial ACs.
Browse detailed report - Commercial AC Market Analysis and Demand Forecast Report
Due to the aforementioned factors, the demand for commercial ACs is soaring, which is, in turn, driving the progress of the global commercial air conditioner (AC) market. According to the forecast of P&S Intelligence, a market research company based in India, the capacity of the market will grow from 17.6 million units in 2019 to 25.4 million units by 2030. Furthermore, the market is predicted to progress at a CAGR of 3.5% between 2020 and 2030.
Variable refrigerant flow (VRF), ducted split/packaged units, split units, chillers, and room ACs are the most widely used types of commercial air conditioners across the world. Amongst these, the demand for split units was found to be the highest in the past, on account of the fact that these systems can be used independently with only one outdoor compressor for appropriate and effective cooling. Moreover, split units are highly cost-effective and cool commercial spaces more efficiently than the other variants.
The major end users of commercial ACs are offices and buildings and supermarkets/hypermarkets and the transportation, healthcare, and government sectors. Out of these, the requirement for commercial ACs was observed to be the maximum in offices and buildings in the past years. This was mainly because of the huge investments made in the construction of office buildings and stadia and the provision of energy efficiency mortgage schemes by the World Green Building Council’s banks.
