Description
North
America Air Conditioner Market Size By Product (Portable, Window, Split, Single
packaged, Chillers, Airside), By Application (Residential, Commercial,
Industrial) Competitive Analysis & Forecast, 2012 – 2020
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Industry Overview
North
America air conditioner market size is expected to reach USD 52.56 billion by
2020, growing at a CAGR of 9.0% from 2014 to 2020. Increasing awareness among
customers regarding energy optimization is expected to drive the market growth
over next six years. In established market such as North America, energy
efficiency is the primary concern.
Thus,
stringent government regulations are practiced for decreasing energy
consumption. Usage of energy efficient air conditioners is expected to increase
owing to declining energy consumption rate. The increasing gap between energy
supply and demand compelling the government to take rigorous initiatives for
the adoption of rated electrical appliances. Air conditioning systems with
energy star ratings are anticipated to consume less electricity and lessen
carbon footprint, thus consumers are now shifting towards energy efficient
models.
Increasing
construction sanctions of infrastructure such as malls, industrial facilities
and corporate offices is likely to elevate the North America air conditioner
market. Construction of commercial infrastructures namely warehouse facilities
and hotels are expected to rise by 8% over the forecast period from 2014 to
2020.
Technological
advancements in air conditioning systems such as inverter based system and one
using natural refrigerants are expected to surge the demand. In addition, NPOs
(non-profit organizations), media, public forum and government are taking
several measures to create awareness among consumers regarding environmental
issues; thus, encouraging people to adopt eco-friendly equipment.
Competition
from Chinese manufacturers such as Midea, Haier, and Gree is expected to
concern the local manufacturers, resulting in reduction of profits. Moreover,
stringent norms over energy efficiency are expected to accentuate research and
development costs for development of energy efficient products. However, focus
of industry participants on customer service is expected to serve as potential
opportunity owing to customer satisfaction and thus help in earning profits and
maintain market share.
Product overview
Split
air conditioner was a foremost segment and it accounted for over USD 19,684.6
million in 2014. It expected to grow at a CAGR of over 10.6%. Airside air
conditioning systems were the second leading product in the segment and it
accounted for over USD 4,739.8 million in 2014. It is expected to grow at a
CAGR of over 7.5% from 2014 to 2020, owing to demand for high efficient models.
Application overview
Residential
application dominated the North America air conditioner market, with revenue of
over USD 11.8 billion in 2014 and is estimated to grow at a CAGR of over 9.2%.
Commercial segment accounted for second leading segment and was valued over USD
10,459.3 million and is estimated to grow at a CAGR of over 9.6% from 2014 to
2020 owing to increasing consumerism and comfortable shopping experience
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Regional overview
U.S.
dominated North America air conditioner market demand with valuation of over
USD 26,401.1 million in 2014 and is anticipated to grow at a CAGR of over 8.8%
from 2014 to 2020, owing to its large supplies to Mexico. Canada was the second
largest regional industry valued for USD 3,654.3 million and is anticipated to
grow at a CAGR of over 9.7% to 2020.
Competitive market share
The
North America air conditioner market share is literally consolidated, with the
top five companies accounting for majority of the total demand in 2013.
Carrier
accounted for 17% of the total North America air conditioning systems market.
It mainly focused on improving distribution channel. Followed by, Daikin
accounted for 15%; it followed a strategy of providing customizable designs and
numerous colours. Trane was ranked third in the market, followed by JCI and
Lennox
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