The Air Conditioning Systems units are expected to reach approximately 50.02 million by 2020 and the market is estimated to be growing at a CAGR of 7.1% during the forecast period of 2021 – 2026.
Air conditioning systems vary in units from small to large. Small units are widely used in single rooms whereas large units can be operated to provide cooling for the entire building. These systems offer a comfortable environment in the interior by improving the quality of the air.
Drivers, Challenges & Opportunities in the North America Air Conditioning Systems Market
Rise in the disposable income in urbanized areas is the primary factor influencing the growth of the market. In addition, growing conditions of global warming are accelerating the demand of the market.
However, lack of standardization is quietly degrading the growth of the regional market. Stringent rules and regulations by the government in concern towards the environment safety measures remained a challenging factor for the market.
Increasing competition between the market players and the launch of various features for the existing systems innovatively are setting up growth opportunities for the market. Furthermore, a growing number of smart home buildings are leveraging the demand of the market.
This research report has been segmented and sub-segmented into the following categories
By Product Type: Portable, Window, and Split
By End-user: Residential and Commercial
By Country: US, Canada & Rest of North America
On the basis of product type, Split air conditioning systems are ruling with the highest shares of the market by owing to the adoption of the latest technological developments.
On the basis of end-user, the Commercial segment is accounted for leading the highest shares of the market with the rise in the scale of the industries and their demand for installation of air conditioners.
Geographically, North America is accounting for the largest shares of the market and it is estimated to continue the same growth in foreseen years. Manufacturing of the products with new techniques in order to consume less energy is fueling the demand of the market. Also, growing revenue in developed and developing countries is lavishing the growth of the market in this region. In addition, the growing prevalence of the large unit air conditioners due to a rise in the construction of malls and other commercial buildings.
Few of the leading companies operating in the North American Air Conditioning Systems Market profiled in this report are Ingersoll Rand, Daikin Industries Ltd., Carrier Corporation, Mitsubishi and Hitachi among others.
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