Commercial Air Conditioner Market size to grow by USD 45,610.86 million from 2022 to 2027, AAON Inc., Blue Star Ltd. and more to emerge as key contributors to growth – Technavio

NEW YORK, July 7, 2023 /PRNewswire/ — The commercial air conditioner market size is set to grow by USD 45,610.86 million between 2022 and 2027 and register a CAGR of 6.46%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

• Commercial Air Conditioner Market size
• Commercial Air Conditioner Market trends
• Commercial Air Conditioner Market industry analysis

Factors such as the increasing demand for energy-efficient commercial air conditioners, rapid urbanization and infrastructure development leading to demand for commercial air conditioners, and product innovation leading to portfolio extension of commercial air conditioners will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The commercial air conditioner market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Commercial Air Conditioner Market 2023-2027: Segmentation

The commercial air conditioner market is segmented as follows:

• Product 
• Split Systems
• VRF Systems
• Chillers
• Rooftops
• Others
• Technology 
• Non-inverter
• Inverter
• Geography 
• North America
• APAC
• Middle East And Africa
• Europe
• South America

The split systems segment will be significant during the forecast period. This type of air conditioner is widely used in commercial settings, including offices, retail spaces, hotels, and healthcare facilities. The split systems segment is mainly characterized by the division of the system into two main units: the indoor unit and the outdoor unit. They are more energy-efficient than other types of air conditioners and offer a wider range of features and options as well as relatively easy to install and maintain. These factors make them a popular choice for commercial applications. For instance, market players such as Samsung in this segment continuously focus on product innovation, technological advancements, and customization to cater to the diverse requirements of commercial customers. Hence, such factors boost the split systems segment growth.

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Commercial Air Conditioner Market 2023-2027: Vendor Analysis and Scope

To help businesses improve their market position, the commercial air conditioner market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include AAON Inc., Blue Star Ltd., Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Emerson Electric Co., Fujitsu Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., Honeywell International Inc., Johnson Controls International Plc, Lennox International Inc., LG Electronics Inc., Mitsubishi Electric Corp., Modine Manufacturing Co., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Toshiba Corp., Trane Technologies Plc, and Voltas Ltd.
Vendor Offerings

• AAON Inc. – The company offers commercial air conditioners such as AAON RN series packaged rooftop units.
• Blue Star Ltd. – The company offers commercial air conditioners such as Inverter MBTU series commercial split air conditioner.
• Carrier Global Corp. – The company offers commercial air conditioners such as Slimpack floor standing air conditioners.

Commercial Air Conditioner Market 2023-2027: Market Dynamics

Key Drivers

Increasing demand for energy-efficient commercial air conditioners drives the commercial air conditioner market. The operational expenses for commercial buildings majorly comprise energy costs. So, an increasing emphasis is placed on reducing energy consumption and lowering operating costs for businesses. Thus, commercial air conditioners, which are more energy efficient than conventional equipment, save a substantial amount of energy.

Businesses can achieve substantial cost savings in the long run by investing in energy-efficient solutions. For example, Carrier’s Greenspeed Intelligence technology, which is incorporated into the company’s commercial air conditioners, optimizes performance and energy efficiency by modulating the system’s operation based on the building’s cooling requirements. Hence, such factors are expected to drive the growth of the global commercial air conditioner market during the forecast period.

Significant Trends

Growing demand for integrated systems in buildings is an emerging market trend. HVAC controls and building systems witness more integration, which drives demand among end-users who seek the benefits of streamlining systems. The systems include lighting and access controls, which allow higher energy efficiency in managing building systems as it allows control from one interface.

For instance, integrated systems can use occupancy and air quality sensors for adjusting ventilation rates and air conditioning settings depending on the number of users as well as to measure ambient air quality. Hence, such trends boost the market growth during the forecast period.

Major Challenges

High initial costs associated with commercial air conditioners hinder the growth of the market. Commercial air conditioners often require significant upfront investments when compared to residential air conditioning units. These systems are typically larger and more complex than residential AC units. Thus, they require higher-capacity compressors, larger condenser units, and more extensive ductwork.

Higher energy consumption translates into increased operational costs over time. This should be considered in the overall cost analysis of commercial air conditioners. Hence, such factors are expected to pose a challenge to the growth of the global commercial air conditioners market during the forecast period.

What’s New?

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Commercial Air Conditioner Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist commercial air conditioner market growth during the next five years
• Estimation of the commercial air conditioners market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the commercial air conditioners market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial air conditioners market vendors

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Related Reports:
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The hybrid air conditioner (AC) market is estimated to grow at a CAGR of 9.13% between 2022 and 2027. The size of the market is forecast to increase by USD 4,288.06 million. This report extensively covers market segmentation by product (hybrid solar air conditioner and solar air conditioner), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The product innovation leading to portfolio extension and product premiumization is notably driving the market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global commercial air conditioners market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on global commercial air conditioners market 2017 – 2021 ($ million)

• 4.2 Product Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Technology Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product – Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Split systems – Market size and forecast 2022-2027
• Exhibit 34: Chart on Split systems – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Split systems – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Split systems – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Split systems – Year-over-year growth 2022-2027 (%)

• 6.4 VRF systems – Market size and forecast 2022-2027
• Exhibit 38: Chart on VRF systems – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on VRF systems – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on VRF systems – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on VRF systems – Year-over-year growth 2022-2027 (%)

• 6.5 Chillers – Market size and forecast 2022-2027
• Exhibit 42: Chart on Chillers – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Chillers – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Chillers – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Chillers – Year-over-year growth 2022-2027 (%)

• 6.6 Rooftops – Market size and forecast 2022-2027
• Exhibit 46: Chart on Rooftops – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Rooftops – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Rooftops – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Rooftops – Year-over-year growth 2022-2027 (%)

• 6.7 Others – Market size and forecast 2022-2027
• Exhibit 50: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Product 
• Exhibit 54: Market opportunity by Product ($ million)
• Exhibit 55: Data Table on Market opportunity by Product ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments 
• Exhibit 56: Chart on Technology – Market share 2022-2027 (%)
• Exhibit 57: Data Table on Technology – Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 58: Chart on Comparison by Technology
• Exhibit 59: Data Table on Comparison by Technology

• 7.3 Non-inverter – Market size and forecast 2022-2027
• Exhibit 60: Chart on Non-inverter – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Non-inverter – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Non-inverter – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Non-inverter – Year-over-year growth 2022-2027 (%)

• 7.4 Inverter – Market size and forecast 2022-2027
• Exhibit 64: Chart on Inverter – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Inverter – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Inverter – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Inverter – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Technology 
• Exhibit 68: Market opportunity by Technology ($ million)
• Exhibit 69: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 APAC – Market size and forecast 2022-2027
• Exhibit 79: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.5 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.6 Europe – Market size and forecast 2022-2027
• Exhibit 87: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 Japan – Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 India – Market size and forecast 2022-2027
• Exhibit 111: Chart on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 AAON Inc. 
• Exhibit 123: AAON Inc. – Overview
• Exhibit 124: AAON Inc. – Business segments
• Exhibit 125: AAON Inc. – Key offerings
• Exhibit 126: AAON Inc. – Segment focus

• 12.4 Blue Star Ltd. 
• Exhibit 127: Blue Star Ltd. – Overview
• Exhibit 128: Blue Star Ltd. – Business segments
• Exhibit 129: Blue Star Ltd. – Key offerings
• Exhibit 130: Blue Star Ltd. – Segment focus

• 12.5 Carrier Global Corp. 
• Exhibit 131: Carrier Global Corp. – Overview
• Exhibit 132: Carrier Global Corp. – Business segments
• Exhibit 133: Carrier Global Corp. – Key news
• Exhibit 134: Carrier Global Corp. – Key offerings
• Exhibit 135: Carrier Global Corp. – Segment focus

• 12.6 Daikin Industries Ltd. 
• Exhibit 136: Daikin Industries Ltd. – Overview
• Exhibit 137: Daikin Industries Ltd. – Business segments
• Exhibit 138: Daikin Industries Ltd. – Key news
• Exhibit 139: Daikin Industries Ltd. – Key offerings
• Exhibit 140: Daikin Industries Ltd. – Segment focus

• 12.7 Fujitsu Ltd. 
• Exhibit 141: Fujitsu Ltd. – Overview
• Exhibit 142: Fujitsu Ltd. – Business segments
• Exhibit 143: Fujitsu Ltd. – Key news
• Exhibit 144: Fujitsu Ltd. – Key offerings
• Exhibit 145: Fujitsu Ltd. – Segment focus

• 12.8 Haier Smart Home Co. Ltd. 
• Exhibit 146: Haier Smart Home Co. Ltd. – Overview
• Exhibit 147: Haier Smart Home Co. Ltd. – Business segments
• Exhibit 148: Haier Smart Home Co. Ltd. – Key offerings
• Exhibit 149: Haier Smart Home Co. Ltd. – Segment focus

• 12.9 Hitachi Ltd. 
• Exhibit 150: Hitachi Ltd. – Overview
• Exhibit 151: Hitachi Ltd. – Business segments
• Exhibit 152: Hitachi Ltd. – Key news
• Exhibit 153: Hitachi Ltd. – Key offerings
• Exhibit 154: Hitachi Ltd. – Segment focus

• 12.10 Johnson Controls International Plc
• Exhibit 155: Johnson Controls International Plc – Overview
• Exhibit 156: Johnson Controls International Plc – Business segments
• Exhibit 157: Johnson Controls International Plc – Key news
• Exhibit 158: Johnson Controls International Plc – Key offerings
• Exhibit 159: Johnson Controls International Plc – Segment focus

• 12.11 Lennox International Inc. 
• Exhibit 160: Lennox International Inc. – Overview
• Exhibit 161: Lennox International Inc. – Business segments
• Exhibit 162: Lennox International Inc. – Key offerings
• Exhibit 163: Lennox International Inc. – Segment focus

• 12.12 LG Electronics Inc. 
• Exhibit 164: LG Electronics Inc. – Overview
• Exhibit 165: LG Electronics Inc. – Product / Service
• Exhibit 166: LG Electronics Inc. – Key offerings

• 12.13 Mitsubishi Electric Corp. 
• Exhibit 167: Mitsubishi Electric Corp. – Overview
• Exhibit 168: Mitsubishi Electric Corp. – Business segments
• Exhibit 169: Mitsubishi Electric Corp. – Key news
• Exhibit 170: Mitsubishi Electric Corp. – Key offerings
• Exhibit 171: Mitsubishi Electric Corp. – Segment focus

• 12.14 Modine Manufacturing Co. 
• Exhibit 172: Modine Manufacturing Co. – Overview
• Exhibit 173: Modine Manufacturing Co. – Product / Service
• Exhibit 174: Modine Manufacturing Co. – Key offerings

• 12.15 Panasonic Holdings Corp. 
• Exhibit 175: Panasonic Holdings Corp. – Overview
• Exhibit 176: Panasonic Holdings Corp. – Product / Service
• Exhibit 177: Panasonic Holdings Corp. – Key news
• Exhibit 178: Panasonic Holdings Corp. – Key offerings

• 12.16 Samsung Electronics Co. Ltd. 
• Exhibit 179: Samsung Electronics Co. Ltd. – Overview
• Exhibit 180: Samsung Electronics Co. Ltd. – Business segments
• Exhibit 181: Samsung Electronics Co. Ltd. – Key news
• Exhibit 182: Samsung Electronics Co. Ltd. – Key offerings
• Exhibit 183: Samsung Electronics Co. Ltd. – Segment focus

• 12.17 Trane Technologies Plc 
• Exhibit 184: Trane Technologies Plc – Overview
• Exhibit 185: Trane Technologies Plc – Business segments
• Exhibit 186: Trane Technologies Plc – Key news
• Exhibit 187: Trane Technologies Plc – Key offerings
• Exhibit 188: Trane Technologies Plc – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 189: Inclusions checklist
• Exhibit 190: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 191: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 192: Research methodology
• Exhibit 193: Validation techniques employed for market sizing
• Exhibit 194: Information sources

• 13.5 List of abbreviations 
• Exhibit 195: List of abbreviations

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