Market Trends of Air Conditioning Equipment Industry
This section covers the major market trends shaping the Air Conditioning Equipment Market according to our research experts:
Split System is Expected to Have a Significant Growth
- A split air conditioner consists of an outdoor unit and an indoor unit. In single-split systems, an interior and outdoor unit are connected by copper pipe. In multi-split systems, up to five indoor units of customer choice can be connected to one outside unit. The multi-split is appropriate for many rooms or large rooms and various climatic zones. The outdoor unit's small footprint and easy installation are major benefits.
- The firms are collaborating to provide Energy efficient and climatic-friendly split air conditioners. For instance, in August 2021, The only room air conditioner models to receive Germany's stringent "Blue Angel" ecolabel are small propane (R290) split air conditioners made by Chinese appliance player Midea. . The Blue Angel certification, which was founded in 1978, is the oldest ecolabel in the world. It is owned by the German Federal Ministry for the Environment and administered by the Federal Environmental Agency (UBA). About 12,000 products carry the label, which applies to 120 different product classes.
- Furthermore, Introducing Midea's All Easy Series R290 units is a tipping point. Portable R290 air conditioners made by Midea have been available in Europe for some time. The most often used appliances for cooling spaces globally are split air conditioners mounted on an exterior wall. The R290 split air conditioners from Midea are expected to disrupt the European market and spark a change that will lower the continent's energy use and greenhouse gas emissions.
- In December 2021, Mitsubishi introduced a ductless mini-split system that offers air conditioning using boilers. Mitsubishi produces ductless heat pumps, essentially air conditioners that can operate in reverse, providing both heating and cooling. These can be used in homes with boilers as they do not require a ducting system. Rather, they have a separate indoor unit that blows out the cold air.
- Furthermore, in May 2022, Johnson Controls-Hitachi introduced a new Wall Mount indoor mini-split unit as the latest addition to its PRIMARY P300 line of high-efficiency, single-zone commercial mini-split systems. This ductless heating and cooling system are developed to address the particular requirements of small to medium-sized spaces, such as retail establishments, dining establishments, and educational facilities. The new Wall Mount unit is small and light, and the entire series of Hitachi PRIMARY mini-split systems have several mounting possibilities, making installation for contractors easier. Long pipe adds to the layout freedom, and a large capacity range ensures a system is precisely the right size for any application. To satisfy client needs and applications.
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Europe is Expected to Hold Significant Market Share
- European Union is taking various initiatives and introducing projects to reduce energy consumption and lower direct emissions. The new solutions are being introduced which are technically feasible and comply with the most stringent European safety standards. For instance, in August 2021, The European Union-funded Life-Zero GWP project developed the first high-efficiency double-ducted propane (R290) air conditioner with no outdoor unit. The new mono-block INNOVA 2.0NR has a compact design along with a reduced energy consumption and lower direct emissions. Each refrigeration circuit uses less than 150g of R290, keeping the units in compliance with European safety standards.
- In June 2021, Mitsubishi Electric announced that it would invest USD 18 million to expand air conditioning production in Turkey to meet European demand for its air conditioning and heat pump systems. The planned investment will be made at the company's 40,000 m2 production site in Manisa. Production rates at the factory are expected to increase to one million units annually from October 2021 to meet European demand for its products.
- The expanding construction industry, loosening regulations in the real estate and construction sectors, significant potential for energy savings, and low and simple maintenance needs of air conditioning systems are all major factors propelling the market for air conditioning systems. For instance, According to Eurostat, Construction output in European Union increased by 3% in April of 2022 over the same month in the previous year. Furthermore, The production value of the construction industry in European countries in 2020 varied drastically per country. That year, Germany recorded the largest production value at roughly EUR 379 billion, followed by France at EUR 303 billion. In 2020, the annual turnover of the EU-27 countries amounted to almost EUR 1.7 trillion.
- To expand their presence and capture a wide market share, the companies are launching and making available in Europe. For instance, in February 2021, Carrier introduced its XCT7 VRF air conditioning system in Europe. The range includes sizes from 4 to 26hp in single- and dual-fan, side discharge, top discharge, and full discharge heat recovery heat pump units. To achieve 104 horsepower with up to 64 indoor units per outside system, up to four outdoor units can be coupled. Twelve indoor units are offered, including round-way, 1-, 2-, and 4-way cassettes. Innovative features include a centrifugal oil separator that improves refrigerant distribution balance, a black-coated fin technology that increases corrosion resistance, anti-liquid shock compressor technology that lowers the failure rate from liquid shock, and a 10-stage oil return technology that ensures a smooth supply of lubricant.
- Furthermore, in May 2021, the rhoss spa introduced WinPACK ECO, a new range comprising air-cooled water chillers and reversible heat pump products with scroll compressors and R32 ecological refrigerant gas. The new product range offers a cooling capacity from 150 to 350 kW and is available in the T and Q versions in nine sizes of chillers and reversible heat pumps.
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