Increase in Construction Activities Boost Commercial AC Market

The commercial AC market is expected to register a sale of 25.4 million units by 2030, due to the worldwide rise in the number of construction projects and the increase in disposable income of the people. In addition, the variable refrigerant flow systems (VRF), which were first patented by Daikin as Variant Refrigerant Volume, are expected to experience the highest sales in the near future, attributed to in-expensive and energy-efficient appliances that are rapidly replacing the chillers in commercial establishments.

The hospitality division is predicted to capture the largest commercial AC market share by 2030, ascribed to continuously rising tourism activities. It is also expected that international tournaments would lead to increase construction of hotels will result in the surging requirement for commercial cooling systems.

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In addition, under the installation type segment, new installations contribute higher sales volume due to the rise in construction projects led by the development of smart cities. There are numerous infrastructure projects to be initiated, in progress, or to be completed that lead to the surging requirement for the installation of the new AC systems.

Moreover, the expansion of the construction industry accounts for the propulsion of the commercial AC market. The growing infrastructure development activities such as office complexes, airports, and metro rail systems attributes to the increasing requirement for commercial AC after their completion. For instance, China is focusing on the completion of over 200 airports by 2035; similarly, 115 skyscrapers are expected to be built in London and 42 in Chicago.

Furthermore, the use of low-Global-Warming-Potential refrigerants is currently trending in the market. The widely used refrigerants are R22, R507, and R404A, which contain hydrochlorofluorocarbons. But, the rising awareness of its harmful effects on the environment leads increase requirement to replace the R32 and other low GWP refrigerants in the emerging economies.

The product launches by key players in the commercial AC market players are planned to lure customers and result in strong competition. The key players in the market are Ingersoll-Rand plc, Johnson Controls International PLC, United Technologies Corporation, Mitsubishi Electric Corporation, LG Electronics Inc., and Toshiba Corporation.

APAC has captured a massive commercial AC market share, owing to the expansion of the construction sector that already contributes 60% of global construction revenue. It will result in a surge in disposable income and migration of the population from rural to urban areas in the emerging economies of the region.

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The HVAC manufacturers are focusing on the implementation of the IoT for the embedding of sensors and other devices into both heating and cooling equipment that will further enable the monitoring and data collection related to the performance of the system and buildings' condition. It is further expected to improve efficiency with real-time monitoring and data analysis to facilitate the predictive maintenance of the systems. It also enables them to manage and control the temperature and humidity levels. Such innovations lead to the proliferation of the market.

Therefore, the surge in construction activities, with rising tourism and ongoing infrastructure development projects led by the development of smart cities propel the market.

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This release was published on openPR.