United States, Rockville MD, June 09, 2022 (GLOBE NEWSWIRE) — The U.S. air conditioning system market expanded at 3.9% CAGR between 2017 and 2021. The market is projected to expand at the rate of 5.6% CAGR to surpass a valuation of US$ 35.2 billion by the end of 2032.
According to the recent analysis Fact.MR, a market research and competitive intelligence provider, sales of air conditioning systems across U.S. are poised to increase substantially owing to connectivity-improving data control and the incorporation of smart technologies designed for automation.
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Manufacturers are introducing advanced technologies in air conditioning systems that are software-enabled, which aid in data collection, system status, usage trends, and past performance, and can also alert for preventive maintenance for faster repairs in case of an malfunction in the unit. Along with this, eco-friendly systems are in great demand these days, which include the use of solar panels to narrow down energy costs.
Which Key Trends are Being Witnessed in the U.S. Market for Air Conditioning Systems?
“Emergence of Green Air Conditioning Systems for Green Building Technology”
Cooling appliances are known to emit large volumes of GHGs or greenhouse gases & CFCs, and are energy-intensive, which has led to the need for green air conditioning systems. Rising preference for sustainable green technologies has challenged manufacturers of air conditioning devices as well. They are now focusing on improving system designs, providing optimum cooling load management, along with the use of natural refrigerants to develop energy-efficient solutions in air conditioning.
Thus, technological developments in air conditioning provide for green air conditioning systems that do not emit GHGs and are highly energy-efficient. These are highly adopted in green building technologies to impact green technology outcomes.
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Key Segments Covered in the U.S. Air Conditioning System Industry Survey
- By System Type :
- Portable Air Conditioning Systems
- Window Air Conditioning Systems
- Split Air Conditioning Systems
- Cassette Air Conditioning Systems
- Single Packaged Air Conditioning Systems
- Chiller Air Conditioning Systems
- Airside Air Conditioning Systems
- By Technology :
- Automatic Air Conditioning Systems
- Manual Air Conditioning Systems
- By Mounting Type :
- Unitary Air Conditioning Systems
- Rooftop Air Conditioning Systems
- PTAC Air Conditioning Systems
- By End Use :
- Residential Air Conditioning Systems
- Commercial Air Conditioning Systems
- Industrial Air Conditioning Systems
Prominent air conditioning system manufacturers are incorporating software automation and are focusing on introducing eco-friendly systems to increase their market share.
- Carrier Corporation agreed to acquire VRF and light commercial HVAC business of Toshiba in 2022. This acquisition is likely to strengthen the position of the company in the HVAC segment, along with providing differentiated technology and adding a renowned brand to its product portfolio.
- Honeywell International Inc., in 2020, announced the development of a new air conditioning system for electric aircraft and Urban Air Mobility (UAM). It is equipped with an oil-free Micro Vapor Cycle System (Micro VCS), to save on weight and reduce maintenance costs.
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Key players in the U.S. Air Conditioning System Market
- Daikin U.S. Corporation
- United Technologies
- Honeywell International Inc.
- Ingersoll Rand
- Mitsubishi Corporation (Americas)
- Haier Electronics Group Co. Ltd.
- Samsung Electronics
- Carrier Corporation
- Sharp Corporation
Key Takeaways from U.S. Air Conditioning System Market Study
- The United States air conditioning system market is valued at US$ 20.3 billion in 2022 and is projected to expand at a CAGR of 5.6% through 2032.
- Chiller air conditioners rule the industry with 37.7% market share and are projected to see demand growth at 6% CAGR over the assessment period.
- Under application, the commercial segment controls 36.1% market share.
- South-West U.S. dominates the market with 27.8% share and is projected to rise at the rate of 6.2% over the decade.
- Together South-West U.S. and South-East U.S. hold 51.2% share in the United States market.
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