Packaged Air Conditioners Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0097621
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 9.01 |
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The Packaged Air Conditioners Market size is estimated to grow at a CAGR of 5.62% between 2022 and 2032. The market size is forecast to increase by USD 4,567.21 million. The growth of the market depends on several factors, including the increasing demand for efficient cooling solutions, rising construction activities, and the growing need for temperature control in commercial and residential buildings. Packaged air conditioners refer to self-contained units that provide both cooling and heating functions in a single system. They are commonly used in commercial spaces, such as offices, retail stores, and hotels, as well as in residential buildings where centralized HVAC systems are not feasible.
Packaged Air Conditioners Market Overview:
Drivers:
One of the key factors driving the packaged air conditioners market growth is the increasing demand for efficient cooling solutions. With the rising global temperatures and the need for comfortable indoor environments, there is a growing demand for air conditioning systems that can provide effective cooling while consuming less energy. Packaged air conditioners, particularly those equipped with energy-efficient technologies such as variable refrigerant flow (VRF) or inverter compressors, offer significant energy savings compared to traditional air conditioning systems. These systems can adjust their cooling capacity based on the actual cooling load, resulting in reduced energy consumption and lower operating costs.
Moreover, the growing construction activities, especially in emerging economies, are driving the market growth. The rapid urbanization, infrastructure development, and increasing disposable incomes have led to a surge in construction projects, including commercial buildings, residential complexes, and industrial facilities. Packaged air conditioners are preferred in these projects due to their ease of installation, compact design, and cost-effectiveness. The demand for packaged air conditioners is expected to be high in the commercial sector, where there is a need for efficient cooling solutions to create comfortable working or shopping environments.
Trends:
A key trend shaping the packaged air conditioners market is the integration of smart technologies and connectivity features. Manufacturers are incorporating smart controls, Wi-Fi connectivity, and compatibility with home automation systems into packaged air conditioning units. This integration allows users to remotely control and monitor the cooling settings, adjust temperature and fan speed, and receive real-time energy consumption data through mobile apps or voice commands. These smart features provide convenience, energy savings, and customization options to users, thereby driving the demand for smart packaged air conditioners in both residential and commercial applications.
Furthermore, there is a growing focus on environmental sustainability, which is driving the demand for eco-friendly refrigerants in packaged air conditioners. With the phase-out of ozone-depleting refrigerants such as R-22, there is a shift towards environmentally friendly alternatives such as R-410A or R-32. These refrigerants have lower global warming potential (GWP) and comply with international regulations and standards. Manufacturers are investing in research and development to develop energy-efficient systems that use eco-friendly refrigerants, thereby catering to the increasing demand for sustainable cooling solutions.
Restraints:
One of the key challenges hindering the packaged air conditioners market growth is the high initial cost of advanced systems. Although packaged air conditioners offer long-term cost savings through energy efficiency and reduced operating costs, their upfront cost is relatively higher compared to conventional air conditioning systems. This cost factor may deter price-sensitive consumers or small-scale businesses from adopting advanced packaged air conditioning solutions, especially in price-sensitive markets.
Packaged Air Conditioners Market Segmentation By Application:
The commercial segment is estimated to witness significant growth during the forecast period. Packaged air conditioners are widely used in commercial spaces such as offices, retail stores, hotels, and restaurants. These units provide efficient cooling and heating solutions for large areas, ensuring comfortable indoor environments for employees, customers, and guests. The demand for packaged air conditioners in the commercial sector is driven by factors such as increasing construction activities, the need for energy-efficient cooling solutions, and the growing focus on creating comfortable and inviting spaces for businesses.
The residential segment is also expected to contribute to the market growth. Packaged air conditioners are commonly used in residential buildings where centralized HVAC systems are not feasible or cost-effective. These units are compact, easy to install, and provide efficient cooling and heating for individual apartments or houses. The increasing demand for comfortable indoor environments, rising disposable incomes, and the need for energy-efficient cooling solutions are driving the adoption of packaged air conditioners in the residential sector.
Packaged Air Conditioners Market Segmentation By Type:
The split system segment is expected to dominate the market during the forecast period. Split system packaged air conditioners consist of two main components: an indoor unit and an outdoor unit. The indoor unit contains the evaporator coil and the fan, while the outdoor unit houses the compressor and the condenser coil. Split system packaged air conditioners offer flexibility in installation, as the indoor unit can be mounted on a wall or ceiling, while the outdoor unit can be placed on the ground or mounted on a rooftop. These systems provide efficient cooling and heating for both residential and commercial applications.
The rooftop segment is also expected to witness substantial growth. Rooftop packaged air conditioners are self-contained units that are installed on the rooftop of buildings. They are commonly used in commercial spaces, such as offices, retail stores, and restaurants, where space constraints or aesthetic considerations make rooftop installation preferable. These units are designed to withstand outdoor conditions and provide efficient cooling and heating for large areas. The demand for rooftop packaged air conditioners is driven by factors such as ease of installation, space savings, and the need for centralized cooling solutions in commercial buildings.
Regional Overview:
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North America is estimated to contribute significantly to the growth of the global packaged air conditioners market during the forecast period. The region has a high demand for efficient cooling solutions due to its hot climate, large commercial sector, and high disposable incomes. The presence of key market players, technological advancements, and stringent energy efficiency regulations further support market growth in North America.
Asia Pacific is also expected to witness substantial growth in the packaged air conditioners market. The region has a rapidly growing construction sector, increasing urbanization, and a rising middle-class population with increasing purchasing power. The demand for packaged air conditioners in Asia Pacific is driven by factors such as the need for comfortable indoor environments, the adoption of energy-efficient cooling solutions, and the growing commercial sector.
Packaged Air Conditioners Market Customer Landscape:
The packaged air conditioners market industry report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Packaged Air Conditioners Market Companies?
Companies are implementing various strategies, such as product launches, partnerships, mergers and acquisitions, and geographical expansion, to enhance their presence in the market.
Some of the major companies operating in the packaged air conditioners market include:
- Johnson Controls International PLC
- Daikin Industries Ltd.
- Carrier Global Corporation
- LG Electronics Inc.
- Mitsubishi Electric Corporation
- Gree Electric Appliances Inc. of Zhuhai
- Lennox International Inc.
- Trane Technologies plc
- York International Corporation
- Hitachi Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about key market players. Data is qualitatively analyzed to categorize companies based on their market presence and strength.
Segment Overview:
The packaged air conditioners market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
o Commercial
o Residential
- Type Outlook (USD Million, 2019 - 2032)
o Split System
o Rooftop
o Others
- Geography Outlook (USD Million, 2019 - 2032)
o North America
- The U.S.
- Canada
o Europe
- K.
- Germany
- France
- Rest of Europe
o Asia Pacific
- China
- India
o South America
- Brazil
- Argentina
- Rest of South America
o Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENTS: GLOBAL Packaged Air Conditioners MARKET
Chapter 1. MARKET SYNOPSIS
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. EXECUTIVE SUMMARY
2.1. Summary Snapshot, 2016 – 2027
Chapter 3. INDICATIVE METRICS
3.1. Macro Indicators
Chapter 4. Packaged Air Conditioners MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. Packaged Air Conditioners Segmentation Analysis
4.2. Industrial Outlook
4.3. Price Trend Analysis
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.5.1. Power Of Suppliers
4.5.2. Power Of Buyers
4.5.3. Threat Of Substitutes
4.5.4. Threat Of New Entrants
4.5.5. Competitive Rivalry
Chapter 5. Change Packaged Air Conditioners MARKET BY product type INSIGHTS & TRENDS
5.1. Segment 1 Dynamics & Market Share, 2019 & 2027
5.2. Packaged AC with Water Cooled Condenser
5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
5.3. Packaged AC with Air Cooled Condenser
5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 6. Packaged Air Conditioners MARKET BY Application INSIGHTS & TRENDS
6.1. Segment 2 Dynamics & Market Share, 2019 & 2027
6.2. Residential
6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.3. Light Commercial Use (Hotels,Restaurants,Shops)
6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
6.4. Small to Medium Offices
6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)
6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)
Chapter 7. Packaged Air Conditioners MARKET REGIONAL OUTLOOK
7.1. Packaged Air Conditioners Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America Packaged Air Conditioners Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.2. North America Packaged Air Conditioners Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.3. North America Packaged Air Conditioners Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.4. North America Packaged Air Conditioners Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S Packaged Air Conditioners Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.5.2. U.S. Packaged Air Conditioners Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.5.3. U.S. Packaged Air Conditioners Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.5.4. U.S. Packaged Air Conditioners Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada Packaged Air Conditioners Market Estimates And Forecast, 2016 – 2027, (USD Million)
7.2.6.2. Canada Packaged Air Conditioners Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.2.6.3. Canada Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.2.6.4. Canada Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3. EUROPE
7.3.1. Europe Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.2. Europe Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million
7.3.3. Europe Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.4. Europe Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.5.2. Germany Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.5.3. Germany Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.5.4. Germany Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.6.2. France Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.6.3. France Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.6.4. France Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.3.7.2. U.K. Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.3.7.3. U.K. Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.3.7.4. U.K Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.2. Asia Pacific Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.3. Asia Pacific Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.4. Asia Pacific Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.5.2. China Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.5.3. China Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.5.4. China Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.6.2. India Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.6.3. India Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.6.4. India Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.7.2. Japan Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.7.3. Japan Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.7.4. Japan Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.4.8.2. Australia Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.4.8.3. Australia Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.4.8.4. Australia Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.5.2. Mea Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.5.3. Mea Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.5.4. Mea Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America Packaged Air Conditioners Estimates And Forecast, 2016 – 2027, (USD Million)
7.6.2. Latin America Packaged Air Conditioners Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)
7.6.3. Latin America Packaged Air Conditioners Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)
7.6.4. Latin America Packaged Air Conditioners Estimates And Forecast By Production Process, 2016 –2027, (USD Million)
7.6.5. Latin America Packaged Air Conditioners Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)
Chapter 8. COMPETITIVE LANDSCAPE
8.1. Market Share By Manufacturers
8.2. Strategic Benchmarking
8.2.1. New Product Launches
8.2.2. Investment & Expansion
8.2.3. Acquisitions
8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures
8.3. Vendor Landscape
8.3.1. North American Suppliers
8.3.2. European Suppliers
8.3.3. Asia-Pacific Suppliers
8.3.4. Rest Of The World Suppliers
Chapter 9. COMPANY PROFILES
9.1 Carrier
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Insights
9.1.4. Strategic Initiatives
9.2 Daikin
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Insights
9.2.4. Strategic Initiatives
9.3 Ingersoll Rand
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Insights
9.3.4. Strategic Initiatives
9.4 Johnson Controls
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Insights
9.4.4. Strategic Initiatives
9.5 Gree
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Insights
9.5.4. Strategic Initiatives
9.6. Mitsubishi Electric
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Insights
9.6.4. Strategic Initiatives
9.7. Bosch
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Insights
9.7.4. Strategic Initiatives
9.8. Panasonic
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Insights
9.8.4. Strategic Initiatives
9.9 Midea
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Insights
9.9.4. Strategic Initiatives
9.10. Samsung
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Insights
9.10.4. Strategic Initiatives
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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