USA, Rockville MD, June 09, 2022 (GLOBE NEWSWIRE) — The US market for air conditioning systems grew at a CAGR of 3.9% between 2017 and 2021. The market is expected to grow at the rate of 5.6% CAGR to exceed a valuation of $35.2 billion by the end of 2032.
According to recent Fact.MR analysis, a market research and competitive intelligence provider, sales of air conditioning systems in the United States are poised to dramatically increase through connectivity-enhancing data control and the integration of smart technologies designed for automation.
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Manufacturers are introducing advanced technologies in air conditioning systems that are software-enabled, which facilitate data collection, system status, usage trends and past performance, and can also alert for preventative maintenance for faster repairs in the event of a unit malfunction. Along with this, eco-friendly systems are in high demand these days, including the use of solar panels to reduce energy costs.
What key trends are observed in the US air conditioning systems market?
“Emergence of Green Air Conditioning Systems for Green Building Technology”
Cooling appliances are known to emit large volumes of GHGs or greenhouse gases and CFCs, and are energy-intensive, which has led to the need for environmentally friendly air conditioning systems. The growing preference for sustainable green technologies has also challenged manufacturers of air conditioning units. They are now focusing on improving the design of the systems, offering optimal management of the cooling load, as well as the use of natural refrigerants to develop energy-efficient solutions in air conditioning.
Thus, technological developments in air conditioning provide for ecological air conditioning systems that do not emit GHGs and are very energy efficient. These are widely adopted in green building technologies to impact green technology outcomes.
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Key segments covered by the American air conditioning system Industry survey
- By type of system:
- Portable air conditioning systems
- Window air conditioning systems
- Split air conditioning systems
- Cassette air conditioning systems
- Packaged air conditioning systems
- Chiller air conditioning systems
- Airside air conditioning systems
- By Technology:
- Automatic air conditioning systems
- Manual air conditioning systems
- By type of assembly:
- Unit air conditioning systems
- Rooftop air conditioning systems
- PTAC air conditioning systems
- By end use:
- Residential air conditioning systems
- Commercial air conditioning systems
- Industrial air conditioning systems
Major manufacturers of air conditioning systems are integrating software automation and focusing on introducing environment-friendly systems to increase their market share.
- Carrier Corporation has agreed to acquire Toshiba’s light commercial HVAC and VRF business in 2022. The acquisition is expected to strengthen the company’s position in the HVAC segment, while providing differentiated technology and adding a well-known brand to its product portfolio .
- Honeywell International Inc., in 2020, announced the development of a new air conditioning system for electric aircraft and Urban Air Mobility (UAM). It is equipped with an oil-free Micro Vapor Cycle System (Micro VCS), to save weight and reduce maintenance costs.
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The key players in the American air conditioning system Market
- Daikin US Corporation
- United Technologies
- Honeywell International Inc.
- Mitsubishi Corporation (Americas)
- Haier Electronics Group Co.Ltd.
- Samsung Electronics
- Transport company
- Sharp Corporation
Main takeaways from American air conditioning system Market research
- The Air Conditioning Systems Market in the United States is valued at USD 20.3 Billion in 2022 and is projected to expand at a CAGR of 5.6% through 2032.
- Chiller air conditioners lead the industry with 37.7% market share and are expected to experience demand growth of 6% CAGR over the assessment period.
- Under application, the commercial segment controls 36.1% market share.
- The US Southwest dominates the market with a 27.8% share and is expected to grow at the rate of 6.2% over the decade.
- Together, the US Southwest and US Southeast have 51.2% of the US market share.
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