Air conditioners help us to cool the surrounding temperatures and have become essential commodities rather than luxurious ones. The rise in disposable income and the introduction of low-cost air conditioning systems have increased the affordability of such products. The need for ACs has grown pervasively, ranging from homes, hospitals, airports to hospitality industries and other commercial sectors. The global air conditioner market in the 21st century is expected to be driven by higher adoption of AC units in developing countries, particularly in hot and humid conditions, such as South Africa, India, Mexico, China, Brazil, Southeast Asian countries and Middle Eastern countries.

Increased R&D investments from major vendors in the market are growing as regulations are tightened with respect to the usage of particular refrigerants, thereby increasing the efficiency of air conditioning systems.

The structure of the building and the cooling areas determine the choice of air conditioning systems in application areas. The commercial sector is categorized into the following:

Office Space: The growth in office spaces has maximized and is still maximizing across the globe on account of economic growth. In India, the office space leasing has increased by about 40% in 2019 compared to the last year.

Flexible co-working spaces have provided vast opportunities for AC manufacturers. Strong macro-economic ecosystems and healthy business support systems have driven the adoption of air conditioning systems and are likely to stimulate growth in the future.

Airports and Public Utilities: Several airports are being built and undergo renovation across the globe. Modern-day airports demand a large number of air conditioning systems, especially in the APAC region, where several airports are being renovated. China has a large number of airports, hence driving the demand for ACs in the aircon market.

With the infrastructural development of airports surging, the demand for ACs is likely to increase by incorporating controlled environments and providing clean and pure air using high energy-efficient units.

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Hospitality: Air conditioning in hotels and other hospitality industry has to maintain a high quality of air, which necessitates the installation of grade 1 or grade 2 ACs. Also, air conditioning systems in the hotel industry generally account for around half the total energy spent in hotels.

Air conditioning systems in the hospitality industry account for around half of the total energy spend. The hospitality industry is one of the most energy-intensive industry sectors in the tourism sector, therefore maintaining optimal climatic conditions is a must.

Hospitals: Several Southeast Asian countries, BRICS, and other developing countries have turned out to be favorable places for medical tourism, which is expected to boost the air conditioning systems market as there is an increasing need for ACs in hospitals world over.

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Prominent Vendors

  • Bluestar
  • Carrier
  • Daikin
  • Johnson Controls
  • LG
  • Midea
  • Mitsubishi Electric
  • Panasonic
  • Samsung
  • Voltas

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