United States Air Conditioning Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United States Air Conditioning Equipment Market is segmented by type ( Single Splits/Multi-Splits, Variable Refrigerant Flow, Air Handling Units, Chillers, Fan Coils, Indoor Packaged and Roof Tops), by Distribution Channel (Multi brand Stores, Exclusive stores and Online), by End user ( Residential, Commercial, Industrial).

Market Snapshot

CAGR
Study Period: 2020-2027
Base Year: 2021
CAGR: 5.6 %

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Market Overview

The United States Air Conditioning Equipment market is expected to grow at 5.6 % CAGR during the forecast period of (2022-2027). To address the demand for energy reductions, manufacturers are focusing on product innovation. Window inverter air conditioners, which employ Dual Inverter technology and utilise considerably less energy than conventional air conditioners, have been produced by companies like LG. In addition, manufacturers are aiming to give features like seamless Wi-Fi connectivity and inverter-based air conditioners due to the highly competitive market environment, which is anticipated to propel growth in the United States air conditioners market in the upcoming years.

  • Rapid economic expansion assists in raising people's disposable incomes and driving up demand for housing for both residential and commercial uses. Industrial uses also fuel the air conditioner industry. According to International Monetory fund, In 2021, the gross domestic product per capita in the United States amounted to around USD 69,231.4 . Such huge per capital will drive the studied capital.
  • The market will also be fueled by the tourism sector's rapid expansion, as hotels and commercial vehicles around the region will soon consider a range of portable and other AC systems. The portable air conditioner market will be driven by consumers seeking on-the-go cooling devices and energy-efficient cooling systems. Additionally, the public sector will be a key driver in this market as governments throughout the region focus on energy-efficient air conditioning.
  • The Air Handling Units can remove hazardous air pollutants that can lead to various illnesses and respiratory conditions, such as lung cancer, ischemic heart disease, asthma, and chronic obstructive pulmonary disease. Additionally, several technological developments, like the creation of affordable 3D printed units and the integration of sensors in AHU units for movement-activated air conditioning, are favorably affecting the market's expansion. The development of vast infrastructure and the creation of smart cities, particularly in emerging economies, are further drivers that are anticipated to fuel market growth.
  • With the outbreak of COVID-19, industrial companies are expressing concerns about the environmental impact of the services and products they buy and are willing to pay more for more environmentally and health-friendly options than others. Smart Air Conditioner systems are expected to have significant demand. Technology gives end-users more control, from self-regulation to sensors to remote temperature adjustment to integrating energy controls. The Air Conditioner systems deal with varied load conditions depending on the occupancy rate in the buildings due to irregular attendance. Rationalizing square foot occupancy per employee and evolving office space usage patterns will be necessary.
  • Environmental concerns regarding global warming and ozone depletion have led to the development of evolving global and regional regulations, which have had significant implications for refrigerants across applications. Manufacturers and end-users who purchase, design, install, and service air conditioning equipment should consult their country's current regulations, codes, and standards to aid refrigerant selection for each intended use.

Scope of the Report

Air conditioning is changing a space's temperature and air quality to improve the comfort of its occupants. With this procedure, severe natural surroundings can be adjusted to fit a person's preferences in the privacy of their homes by removing too much moisture and heat from enclosed spaces. 

The scope of the study focuses on the market analysis of air conditioning equipment sold across the globe, and market sizing encompasses the revenue generated through air conditioning equipment products sold by various market players. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. the study further analyzes the overall impact of Covid-19 on the ecosystem. 

Equipment
Air Conditioning/Ventilation Equipment
Type
Single Splits/Multi-Splits
VRF
Air Handling Units
Chillers
Fans Coils
Indoor Packaged And Roof Tops
Other Types
Distribution Channel
Exclusive Stores
Online
Multi Brand Stores
End User
Residential
Commercial
Industrial

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Key Market Trends

Commercial Segment is one of the Factor Driving the Market

  • According to the United States Energy Information Administration, Nearly 20% of the country's energy consumption and 12% of its greenhouse gas emissions are attributed to commercial buildings. Smart buildings serve the entire world community by lowering waste and preserving energy.
  • Reducing energy use in buildings can save building owners to save more on their operational costs. By connecting mechanical and electrical systems in buildings to the cloud, they can automatically switch on and off, reducing waste.
  • The investments in commercial buildings are massive in the United States. According to Construct Connect and Oxford Economics, in 2022, the value of commercial construction by retail will account for USD 19.64 billion, USD 14.96 billion for hotels, USD 12.05 billion for government, and USD 9.66 billion for sports stadiums. The robust investments directed toward commercial projects create a need AC equipment.
  • The companies are expanidng thier presence by constructing new offices in the region which will enable the market to grow. For instance, May 2022, As part of its expansion strategy, Clark Construction Group has announced the inauguration of a new 128,000ft2 office in McLean, Virginia, US. The organization's infrastructure, construction, and asset solutions departments will have a modern, collaborative hub in this new office space. Additionally, Clark is maintaining almost 29,000ft2 of its office space in Bethesda and increasing its office space at Stadium Square in downtown Baltimore by a factor of two.
  • In February 2021, Daikin Applied collaborated with ElitAire, to utilize its existing parts distributor and sales representative globally. ElitAire, which is now part of the Daikin Group, is likely to be Daikin Applied's authorized service and technology provider, supporting customers throughout the lifecycle of their commercial heating and cooling equipment. Such partnerships are poised to increase the usage of custom air handlers of Daikin in the commercial sector of that respective region.
Value of Commercial Construction Put in Place

Variable Refrigerant Volume is one of the Factor Driving the Market

  • Most commercial structures, from little stores and cafes to big office complexes and public areas, use VRF systems. VRF zoning ensures that energy is only used to cool or heat occupied offices. Due to their quiet indoor units and ability to maintain precise temperature control, VRF systems guarantee the most comfortable and productive work environment.
  • VRF systems offer simultaneous heating and cooling services, accurate temperature control, and high energy efficiency. These benefits give these systems a competitive edge over conventional methods and are the main drivers of industry expansion. 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 VRF systems are all major factors propelling the market for VRF systems.
  • To meet the demands of the customers the firms in the region are providing different products to enhance their market share. For example, In addition to providing a large capacity range of up to 270 kW in a single central system, Bosch VRF Air Conditioning Systems also employs a modular design approach with space-saving outside units, fashionable indoor units, and sophisticated controls. This high-efficiency product line is appropriate for air-conditioning facilities, including hotels, businesses, hospitals, restaurants, villas, and schools. The advantages of a VRF system include connecting to building management systems and providing individual room control and centralized control.
  • The COVID-19 epidemic significantly negatively impacted the VRF systems business, just like in any other industry. On the one hand, procuring the raw materials and components needed to produce VRF Systems, delivering finished goods, and luring workers out of quarantines were all issues that VRF system makers had to deal with. However, the market growth has been positively impacted by increasing automation in various manufacturing organizations and integrating the Building Automation System (BAS) for schedules and alarms.
  • VRF is frequently used in combination with energy recovery ventilation. A variety of increased ventilation and VRF provides the best indoor environmental comfort (IEC) and indoor air quality (IAQ). Standard energy recovery ventilators or specialized outdoor air systems are used to achieve this (DOAS). Multiple filtration points are possible with numerous indoor VRF units placed in various locations. The air can circulate and filter more often thanks to these tiny conditioning points.
Gross Domestic Product (GDP) Per Capita

Competitive Landscape

The United States Air Conditioning Equipment market is moderately consolidated, with the presence of a few major companies. The companies are continuously investing in making strategic partnerships and product developments to gain more market share. Some of the recent developments in the market are:

  • May 2022 - Johnson Controls-Hitachi has introduced a new Wall Mount indoor mini-split unit as the latest addition to its PRIMAIRY 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 PRIMAIRY 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 that is precisely the right size for any application. To satisfy client needs and application
  • December 2021 - Reducing the environmental impact of the retail industry is becoming increasingly crucial, with one of the main objectives being the decarbonization of building infrastructure. The new wall-mounted indoor unit from Daikin delivers an enticing combination of advanced technology and elegant design. All retail establishments can now use energy-saving heat pump technology to replace conventional boiler systems since it is simple to install, operate, and affordable. When coupled with the Sky Air Alpha-series outdoor unit, which has lengthy piping lengths up to 85 meters and a wide operation range down to -20°C, the new model offers installers and designers the most flexibility in design and location.

Recent Development

June 2022 - Personalized Air Conditioning, a South Florida-based HVAC, generator, and home services business that has been active in the neighbourhood since 1970, has been acquired by Air Pros USA, a Fort Lauderdale-based company. As an Air Pros USA Company, Personalized Air will gain from complete operational and sales integration with the Air Pros USA platform to take advantage of increased resources and maintain the company's 50-year commitment to providing superior customer service.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power Of Suppliers

      2. 4.2.2 Bargaining Power Of Buyers

      3. 4.2.3 Threat Of New Entrants

      4. 4.2.4 Threat Of Substitute Products

      5. 4.2.5 Intensity Of Competitive Rivalry

    3. 4.3 Assessment Of The Impact Of Covid-19 On The Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Replacement Of Existing Equipment With Better Performing Ones

      2. 5.1.2 Supportive Government Regulations Including Incentives For Saving Energy Through Tax Credit Programs

    2. 5.2 Market Restraint (impact Of Ongoing War On Supply Chain And Raw Material)

      1. 5.2.1 Dependence On Macro-economic Conditions

  6. 6. MARKET SEGMENTATION

    1. 6.1 Equipment

      1. 6.1.1 Air Conditioning/Ventilation Equipment

        1. 6.1.1.1 Type

          1. 6.1.1.1.1 Single Splits/Multi-Splits

          2. 6.1.1.1.2 VRF

          3. 6.1.1.1.3 Air Handling Units

          4. 6.1.1.1.4 Chillers

          5. 6.1.1.1.5 Fans Coils

          6. 6.1.1.1.6 Indoor Packaged And Roof Tops

          7. 6.1.1.1.7 Other Types

    2. 6.2 Distribution Channel

      1. 6.2.1 Exclusive Stores

      2. 6.2.2 Online

      3. 6.2.3 Multi Brand Stores

    3. 6.3 End User

      1. 6.3.1 Residential

      2. 6.3.2 Commercial

      3. 6.3.3 Industrial

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Daikin Industries, Ltd.

      2. 7.1.2 Gree Electrical Appliances Inc.

      3. 7.1.3 Emerson Electric Company

      4. 7.1.4 Hitachi-Johnson Controls Air Conditioning Inc.

      5. 7.1.5 Carrier

      6. 7.1.6 LG Electronics Inc.

      7. 7.1.7 Panasonic Corporation

      8. 7.1.8 Toshiba Corporation

      9. 7.1.9 Haier Group Corporation

      10. 7.1.10 Electrolux

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability

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Frequently Asked Questions

The United States Air Conditioning Equipment Market market is studied from 2020 - 2027.

The United States Air Conditioning Equipment Market is growing at a CAGR of 5.6% over the next 5 years.

Daikin Industries, Ltd., Gree Electrical Appliances Inc., Emerson Electric Company, Hitachi-Johnson Controls Air Conditioning Inc., Carrier​ are the major companies operating in United States Air Conditioning Equipment Market.

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