Press release
North America Air Conditioners Market Set to Reach $55.5 Billion by 2030
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According to the findings presented in this comprehensive report, the North America air conditioners market is anticipated to reach a valuation of $55.5 billion by the year 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period spanning from 2023 to 2030. The surge in market growth can be attributed to escalating temperatures and humidity levels, a burgeoning consumer inclination towards convenience and comfort, and an increasing demand for energy-efficient air conditioning systems. However, the market faces challenges due to the elevated costs associated with air conditioners.
The report highlights the following key insights:
1. Growth Drivers and Challenges:
• The adoption of air conditioners with inverter and air purification technologies.
• Advancements in HVAC systems.
• Technological breakthroughs in the industry.
• High energy consumption as a challenge to market growth.
2. Emerging Trends:
• Connected air conditioners.
• Emergence of solar photovoltaic (PV) and solar thermal-assisted air conditioning systems.
3. Market Segmentation:
• Type: Window ACs, Split ACs, VRF Systems, Centralized/Ducted ACs, and others.
• Tonnage: Up to 2 tons, 2 tons to 5 tons, 5 tons to 10 tons, and more than 10 tons.
• Technology: Inverter ACs and Non-inverter ACs.
• Rating: 1 Star ACs, 2 Star ACs, 3 Star ACs, 4 Star ACs, and 5 Star ACs.
• End User: Residential, Commercial, and Industrial.
• Geography: U.S. and Canada.
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4. Segment Projections:
• Split ACs to dominate the market in 2023.
• Up to 2 tons segment to lead in tonnage category.
• Inverter ACs to hold a larger market share in technology.
• 3 Star ACs to dominate the rating segment.
• Residential end users to account for the largest market share.
5. Geographic Analysis:
• U.S. expected to hold a major share in the North America market.
• Highest CAGR projected for the U.S. during the forecast period.
6. Key Players:
• Leading players include Daikin Industries, Ltd., Mitsubishi Electric Corporation, Hitachi-Johnson Controls Air Conditioning, Carrier Global Corporation, Whirlpool Corporation, Haier Smart Home Co. Ltd., LG Electronics, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Fujitsu Limited, Blue Star Ltd, Toshiba Corporation, Gree Electric Appliances Inc., and Midea Group Co. Ltd.
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Meticulous Research® anticipates that ongoing technological innovations, coupled with increasing awareness and demand for energy-efficient solutions, will pave the way for sustained growth in the North America air conditioners market.
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
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