Press release
North America Air Conditioners Market Forecasted to Reach $55.5 Billion by 2030
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Air conditioners, designed to extract indoor heat and expel it outdoors, offer enhanced indoor air quality and reduced humidity. The escalating installation of air conditioning units, coupled with manufacturers' focus on developing advanced portable air conditioners, alongside the growing industrial adoption of these systems, propels the North America air conditioners market forward.
Factors such as rising temperatures and humidity levels, consumers' inclination towards convenience and comfort, and the demand for energy-efficient cooling systems contribute significantly to market growth. However, the high initial costs associated with air conditioners impede widespread adoption, posing a challenge to market expansion.
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Despite challenges, opportunities abound, particularly with the increasing adoption of inverter and air purification technologies in air conditioners. Technological advancements in HVAC systems further enhance growth prospects. Nonetheless, addressing concerns regarding high energy consumption remains imperative for sustained market expansion.
The report segments the North America air conditioners market based on type, tonnage, technology, rating, end user, and geography. Notably, the split ACs segment is anticipated to dominate the market, with centralized/ducted ACs poised for the highest CAGR during the forecast period. The up to 2 tons segment is expected to lead by tonnage, with 2 tons to 5 tons segment displaying the highest CAGR. In terms of technology, inverter ACs are projected to witness significant growth, attributed to their energy-saving benefits and consumer awareness. Similarly, the 5 Star ACs segment is forecasted to exhibit the highest CAGR among ratings, driven by manufacturers' emphasis on energy efficiency.
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Residential end users are expected to hold the largest market share, with the segment also forecasted to register the highest CAGR. The U.S. is anticipated to dominate the North America air conditioners market, propelled by technological advancements and increasing demand for energy-efficient cooling solutions.
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Key players in the North America air conditioners market 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.
Mr. Khushal Bombe
Meticulous Market Research Inc.
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