North America Air Conditioning Systems Market Forecast, Share, Size And Growth Report To 2020: Hexa Research
HexaResearch.com has announced the addition of “Global North America Air Conditioning Systems Market Analysis And Segment Forecasts, 2012 - 2020″ Market Research report to their Database.
Improvement in air conditioning technology and rising acceptance of energy efficient models such as variable refrigerant flow (VRF) air conditioning systems in North America is expected to positively impact market growth. Increasing infrastructure spending and rising disposable income are expected to drive the air conditioning systems market over the forecast period. North America air conditioning systems market was estimated at USD 28.8 billion in 2013. Stringent U.S. government regulations regarding replacement of traditional air conditioners along with increasing consumer awareness is expected to drive North America air conditioning systems market growth. Air conditioners utilize harmful refrigerants that contribute drastically to global warming.
Full research report on Global North America Air Conditioning Systems Market with detailed figures and charts available at:
Replacement demand is expected to fuel the market. Increased adoption of inverter-based portable air-conditioners is also expected to drive market demand over the next six years. These products utilize renewable energy sources and green technology for eco-friendly portable air conditioners. However, strong competition from Chinese manufacturers may hamper market growth.
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Product segments include airside, chillers, single packaged, split air, window air and portable air conditioning systems. Portable air conditioner is expected to be a high growth segment on account of the favorable features offered by these conditioners, such as compact size, high efficiency levels and portable nature. Split air conditioning systems is expected to be the dominant market segment; it accounted for over 60% of the market share in 2013. Increased applications of non-ducted split systems owing to their high energy efficiency, easy installation and flexibility is the key factor contributing to the segment growth. Airsides, which consist of fan coils and Air Handling Units (AHU), are expected to witness high growth over the six years.
Air conditioning systems are used in industrial, commercial and residential applications. The commercial sector is expected to exhibit high growth as it is primarily driven by end-use industries such as tourism, construction, hospitals, clinics, and health clubs. Residential sector accounted for over 40% of the overall air conditioning systems market share in 2013. Increased private spending on construction and building effective energy systems has positively influenced this segment.
The U.S. is expected to be the most dominant segment, accounting for over 80% of the overall air conditioning systems market revenue in 2013. Demand for low energy consuming conditioners is expected to continue in this region. Growing demand from the end-use industries due to diverse weather conditions is expected to drive the regional market. Mexico is expected to exhibit high growth with a CAGR of 10.3% from 2014 to 2020.
Key companies analyzed for the research:
Daikin Industries Ltd.
Hitachi Air Conditioning
About Hexa Research
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