Commercial AC Market Share, Size, Future Demand, Top Leading Player, and Emerging Trends

P&S Intelligence expects the commercial AC market sales volume to increase from 17.6 million units in 2019 to 25.4 million units by 2030, at a 3.5% CAGR between 2020 and 2030. This is because of many reasons: first, commercial spaces are often large, so just one AC is never enough. As a result, an office complex, metro station, or shopping mall requires multiple individual units and integrated heating, ventilation, and air conditioning (HVAC) systems.

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In the coming years, the demand for VRF systems will likely increase at the highest rate. This will be because of the ability of one such system to maintain different temperatures in different settings, which could be the requirement in really large commercial areas. These systems have one large outdoor unit and multiple indoor units with individual controls, which increases their utility for commercial spaces, such as shopping malls and supermarkets/hypermarkets (where the frozen foods section requires way lower temperatures than general-purpose aisles).

In this regard, the burgeoning number of commercial real estate projects is propelling the AC demand. To cater to the booming population, which is increasingly moving to cities, office complexes, transit hubs such as metro and railway stations and airports, hypermarkets, shopping malls, schools, hospitals, and hotels and resorts are rapidly being constructed. For instance, most of the railway stations in developed countries are air-conditioned, as are almost all the underground metro stations around the world.

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Presently, Asia-Pacific (APAC) is the largest commercial AC market because of its huge number of commercial spaces. China and India are home to the most urban residents in the world, which creates a high demand for commercial settings. For instance, Sir M Visvesvaraya Railway Terminal in Bengaluru became India’s first centrally air-conditioned railway station in 2021. Similarly, metro rail projects are being constructed around the country, while the existing ones are being expanded, which is boosting AC sales for stations and underground tunnels.

Hence, with the rapid urbanization around the world, commercial AC installations will increase.

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This release was published on openPR.