Commercial AC Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

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.

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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.

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Globally, the sales of commercial ACs are predicted to surge sharply in the Asia-Pacific (APAC) region in the forthcoming years. This will be because the region is home to the biggest construction sector in the world. In addition to this, the soaring population levels, especially in the regional countries such as India and China, are fueling the requirement for adequate commercial infrastructure, which is, in turn, propelling the demand for commercial ACs in the region.

Hence, it can be said with full certainty that the demand for commercial ACs will soar rapidly across the world in the upcoming years, primarily because of the extensive construction of offices and other commercial buildings in several countries.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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This release was published on openPR.