North America Air Conditioners Market to be Worth $55.5 Billion by 2030
Meticulous
Research®—a
leading global market research company, published a research report titled, ‘North America
Air Conditioners Market by Type (Split, Window,
Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others),
Technology (Inverter, Non-inverter), End User (Residential, Commercial,
Industrial), and Geography - Forecast to 2030.’
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sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5632
According
to this latest publication from Meticulous Research®,
the North America air conditioners market is projected to reach $55.5 billion
by 2030, at a CAGR of 4.5% during the forecast period of 2023–2030. The growth
of the North America air conditioners market is attributed to the increasing
temperatures and humidity levels, the growing consumer preference for
convenience and comfort, and the rising demand for energy-efficient air
conditioning systems. However, the high costs of air conditioners restrain the
market’s growth.
The
rising adoption of air conditioners with inverter and air purification
technologies and technological advances in HVAC systems are creating growth
opportunities for the players operating in this market. However, the high
energy consumption associated with air conditioners poses a challenge to the
market’s growth. Moreover, connected air conditioners and the emergence of
solar photovoltaic (PV) and solar thermal-assisted air conditioning systems are
notable trends in this market.
Based
on type, the North America air conditioners market is
segmented into window ACs, split ACs, VRF (Variable Refrigerant Flow) systems,
centralized/ducted ACs, and other air conditioner types. In 2023, the split ACs
segment is expected to account for the largest share of the North America air
conditioners market. The large market share of this segment is attributed to
the increasing demand for energy-saving and low-noise air conditioners and the
increasing focus on providing quality products and launching a wide range of
split ACs in the market. A split system is more energy efficient, uses less
energy, and helps keep indoor environments clean. However, the
centralized/ducted ACs segment is projected to record the highest CAGR during
the forecast period.
Based
on tonnage, the North America air
conditioners market is segmented into up to 2 tons, 2 tons to 5 tons, 5 tons to
10 tons, and more than 10 tons. In 2023, the up to 2 tons segment is expected
to account for the largest share of the North America air conditioners market.
The large market share of this segment is attributed to the increasing demand
for ACs with custom features for small homes or office spaces and the
increasing demand for air conditioners with a tonnage of up to 2 tons across
the U.S. and Canada.
In
the past few years, prominent AC manufacturers have launched up-to-2-ton ACs
with features such as:
· Swing
feature for the even distribution of air throughout the space covered
· Washable
filters that can easily be removed and put back into the AC
· Voice-controlled
features and Google Assistant for hands-free operation
Therefore,
such advances in this category of ACs contribute to their increased adoption.
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However,
the 2 tons to 5 tons segment is projected to register the highest CAGR during
the forecast period.
Based
on technology, the North America air
conditioners market is segmented into inverter ACs and non-inverter ACs. In
2023, the inverter ACs segment is expected to account for the larger share of
the North America air conditioners market. The large market share of this
segment is attributed to advancements in inverter technology and AC
manufacturers’ strong focus on product development and enhancement of
inverter-powered ACs. Moreover, the inverter ACs segment is also projected to
register the higher CAGR during the forecast period.
Based
on rating, the North America air
conditioners market is segmented into 1 Star ACs, 2 Star ACs, 3 Star ACs, 4
Star ACs, and 5 Star ACs. In 2023, the 3 Star ACs segment is expected to
account for the largest share of the North America air conditioners market. The
segment’s large market share is attributed to the benefits of 3 Star ACs, such
as high efficiency and durable copper condenser coils that work on
variable-speed compressors and AC manufacturers’ rising focus on developing and
enhancing energy-efficient ACs. However, the 5 Star ACs segment is projected to
register the highest CAGR during the forecast period.
Based
on end user, the North America air
conditioners market is segmented into residential end users, commercial end
users, and industrial end users. In 2023, the residential end users segment is
expected to account for the largest share of the North America air conditioners
market. The large market share of this segment is mainly attributed to the
growing acceptance of smart home technologies, construction companies’
increased focus on offering air-conditioned apartments, and the rising need to
improve indoor air quality. Moreover, the residential end users segment is also
projected to register the highest CAGR during the forecast period.
Based
on geography, the North America air
conditioners market is segmented into the U.S. and Canada. In 2023, the U.S. is
expected to account for the larger share of the North America air conditioners
market. The growing demand for air conditioners among middle-income groups,
independent households, and public and hospitality sectors and the increasing
production of air conditioners in the U.S. and Canada contribute to the
country’s large market share. Further, the growing demand for air conditioners
by an increasing number of residential and commercial users, better consumer
awareness about air conditioners in the U.S., and growing emphasis by leading
U.S.-based players to launch air conditioning products are improving the
significance of the air conditioners market in the U.S. Moreover, the market in
the U.S. is projected to register the highest CAGR during the forecast period.
Key
Players:
Some
of the key players operating in the North America air conditioners market are
Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan),
Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation
(U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG
Electronics (South Korea), Panasonic Corporation (Japan), Robert Bosch GmbH
(Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited
(Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric
Appliances Inc. (China), and Midea Group Co. Ltd (China).
Key
Questions Answered in the Report:
· Which
are the high-growth market segments based on type, tonnage, technology, rating,
and end user?
· What
was the historical market size for air conditioners in North America?
· What
are the market forecasts and estimates for the period 2023–2030?
· What
are the major drivers, restraints, and opportunities in the North America air
conditioners market?
· Who
are the major players in the North America air conditioners market, and what
are their market shares?
· What
is the competitive landscape like in the North America air conditioners market?
· What
are the recent developments in the North America air conditioners market?
· What
are the strategies adopted by major players in the North America air
conditioners market?
· What
are the key geographic trends, and which are the high-growth countries?
· Who
are the local emerging players in the North America air conditioners market,
and how do they compete with the other players?
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