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Global Commercial Air Conditioning System Market to reach USD 56.91 billion by the end of 2030.

Global Commercial Air Conditioning System Market Size study & Forecast, by Type (VRF, Ducted Split, Split Units, Room ACs, Others), by Installation Type (New Installation, Retrofit), by End User (Office and Buildings, Supermarkets, Transportation, Government, Healthcare, Others) and Regional Analysis, 2023-2030

Product Code: OIRIA-47171803
Publish Date: 20-07-2023
Page: 200

Global Commercial Air Conditioning System Market is valued approximately USD 40.02 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. A commercial air conditioning system is a system designed to cool and dehumidify the air in commercial or large-scale buildings such as offices, shopping malls, hospitals, hotels, and industrial facilities. These systems are typically more complex and powerful than residential air conditioning systems to meet the higher cooling demands of commercial spaces. The rising concern about indoor air quality has a significant impact on the demand for commercial air conditioning systems. The market for commercial air conditioning systems has been steadily expanding and evolving as a result of consumer demand for innovative, energy-efficient, and environmentally friendly products. There will likely be a big demand for commercial air conditioners due to the increasing investment by governments and private companies on infrastructure across the world. The development of energy-efficient smart commercial air conditioners has increased demand for air conditioners while causing less ozone depletion or air pollution. Additionally, the demand for smart commercial air conditioners with innovative inverter technology and environmentally friendly solutions has been spurred by the increasing number of smart households and business spaces throughout the world.

Moreover, the cohesive government initiatives are anticipated to create the lucrative demand for the market during forecast period. According to the IEA in 2020, USD 66 billion in financing for energy efficiency-related initiatives announced as part of governments’ stimulus packages. Unsurprisingly, a major portion (USD 26 billion) has been dedicated to the construction industry, since investments in building efficiency are anticipated to produce roughly 15 jobs for every USD 1 million spent. Additionally, adoption of smart technologies in the commercial air conditioning industry along with improvement in housing standard is anticipated to create the lucrative opportunity for the market during forecast period. However, the high installation and maintenance costs of Commercial Air Conditioning System stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Commercial Air Conditioning System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to growing disposable income, increase in office buildings, retail malls, and other commercial locations. North America is expected to grow significantly during the forecast period, owing to increased use of energy-efficient air conditioners due to lowering energy consumption rates is expected to stimulate demand for new and improved air conditioners. The replacement of hazardous or ozone-depleting refrigerants, such as the ban on R-22 refrigerant and the transition to R-32 refrigerant from R-410A since R-32 is a far less dangerous gas for the environment, is predicted to fuel commercial AC growth in North America throughout the projection period.

Major market player included in this report are:
Carrier Global Corporation
Daikin Industries, Ltd.
Fujitsu general Ltd.
Haier Inc.
Hitachi, Ltd.
LG Electronics Inc.
Mitsubishi Electric Corporation
Panasonic Corporation
Voltas, Inc.
Blue Star Limited
Recent Developments in the Market:
Ø In January 2023, The UN Environment Programme (UNEP)-led Cool Coalition announced the formation of a Global Cooling Pledge and a “Cool COP Menu of Actions” that would be prominently highlighted during COP28 as the Earth continues to overheat at an alarming rate. Over the next months, the Menu will be developed in collaboration with partners including Sustainable Energy for All (SEforALL) and the International Renewable Energy Agency (IRENA).

Global Commercial Air Conditioning System Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered -Type, Installation Type, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
VRF
Ducted Split
Split Units
Room ACs
Others
By Installation Type:
New Installation
Retrofit
By End User:
Office and Buildings
Supermarkets
Transportation
Government
Healthcare
Others
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Commercial Air Conditioning System Market, by Region, 2020-2030 (USD Billion)
1.2.2. Commercial Air Conditioning System Market, by Type, 2020-2030 (USD Billion)
1.2.3. Commercial Air Conditioning System Market, by Installation Type, 2020-2030 (USD Billion)
1.2.4. Commercial Air Conditioning System Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Commercial Air Conditioning System Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Commercial Air Conditioning System Market Dynamics
3.1. Commercial Air Conditioning System Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Increasing spendings on infrastructure
3.1.1.2. Demand for energy saving and cutting-edge solutions
3.1.2. Market Challenges
3.1.2.1. High installation cost of Commercial Air Conditioning System
3.1.2.2. Changes in humidity and temperature
3.1.3. Market Opportunities
3.1.3.1. Advancement in Technology
Chapter 4. Global Commercial Air Conditioning System Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Commercial Air Conditioning System Market, by Type
5.1. Market Snapshot
5.2. Global Commercial Air Conditioning System Market by Type, Performance – Potential Analysis
5.3. Global Commercial Air Conditioning System Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Commercial Air Conditioning System Market, Sub Segment Analysis
5.4.1. VRF
5.4.2. Ducted Split
5.4.3. Split Units
5.4.4. Room ACs
5.4.5. Others
Chapter 6. Global Commercial Air Conditioning System Market, by Installation Type
6.1. Market Snapshot
6.2. Global Commercial Air Conditioning System Market by Installation Type, Performance – Potential Analysis
6.3. Global Commercial Air Conditioning System Market Estimates & Forecasts by Installation Type 2020-2030 (USD Billion)
6.4. Commercial Air Conditioning System Market, Sub Segment Analysis
6.4.1. New Installation
6.4.2. Retrofit
Chapter 7. Global Commercial Air Conditioning System Market, by End User
7.1. Market Snapshot
7.2. Global Commercial Air Conditioning System Market by End User, Performance – Potential Analysis
7.3. Global Commercial Air Conditioning System Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Commercial Air Conditioning System Market, Sub Segment Analysis
7.4.1. Office and Buildings
7.4.2. Supermarkets
7.4.3. Transportation
7.4.4. Government
7.4.5. Healthcare
7.4.6. Others
Chapter 8. Global Commercial Air Conditioning System Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Commercial Air Conditioning System Market, Regional Market Snapshot
8.4. North America Commercial Air Conditioning System Market
8.4.1. U.S. Commercial Air Conditioning System Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Installation Type breakdown estimates & forecasts, 2020-2030
8.4.1.3. End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Commercial Air Conditioning System Market
8.5. Europe Commercial Air Conditioning System Market Snapshot
8.5.1. U.K. Commercial Air Conditioning System Market
8.5.2. Germany Commercial Air Conditioning System Market
8.5.3. France Commercial Air Conditioning System Market
8.5.4. Spain Commercial Air Conditioning System Market
8.5.5. Italy Commercial Air Conditioning System Market
8.5.6. Rest of Europe Commercial Air Conditioning System Market
8.6. Asia-Pacific Commercial Air Conditioning System Market Snapshot
8.6.1. China Commercial Air Conditioning System Market
8.6.2. India Commercial Air Conditioning System Market
8.6.3. Japan Commercial Air Conditioning System Market
8.6.4. Australia Commercial Air Conditioning System Market
8.6.5. South Korea Commercial Air Conditioning System Market
8.6.6. Rest of Asia Pacific Commercial Air Conditioning System Market
8.7. Latin America Commercial Air Conditioning System Market Snapshot
8.7.1. Brazil Commercial Air Conditioning System Market
8.7.2. Mexico Commercial Air Conditioning System Market
8.8. Middle East & Africa Commercial Air Conditioning System Market
8.8.1. Saudi Arabia Commercial Air Conditioning System Market
8.8.2. South Africa Commercial Air Conditioning System Market
8.8.3. Rest of Middle East & Africa Commercial Air Conditioning System Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Carrier Global Corporation
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Daikin Industries, Ltd.
9.3.3. Fujitsu general Ltd.
9.3.4. Haier Inc.
9.3.5. Hitachi, Ltd.
9.3.6. LG Electronics Inc.
9.3.7. Mitsubishi Electric Corporation
9.3.8. Panasonic Corporation
9.3.9. Voltas, Inc.
9.3.10. Blue Star Limited
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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