LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global commercial air conditioner market is expected to grow at a CAGR of close to 5% during the forecast period.
This research report titled ‘Global Commercial Air Conditioner Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global commercial air conditioner market into six major product segments, of which the top three are discussed in detail below. They are:
- Unducted standard split
- Chiller
- VRF
- AHU
- Rooftops
- Others
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Unducted standard split
Ductless standard split systems are the most commonly used air conditioners. These systems have an outdoor unit that contains the compressor and the condenser, as well as an indoor unit that is mounted to the wall. These systems do not have ducts in wall units for air distribution. These systems send refrigerant directly to multiple air handlers that are installed all through the building. These handlers remove heat from each room separately and look like small boxes installed on the ceiling of the room.
This segment holds the largest market share and is benefitting from the growth in commercial spaces and hospitality industry. These systems are preferred over others due to easier installation as compared to other commercial air conditioners. The Middle East is one key region that is showing increased investment in the non-residential sector owing to the growth in tourism. Such developments across the globe are expected to expedite the growth of the market during the forecast period.
Chillers
Chillers are widely used in data centers. The growing demand for cloud data centers is one of the key propelling factors of the global commercial air conditioner market by chillers. Data centers are hubs that process and store business information as well as serve as a major backbone for cloud operations. Many large enterprises operate cloud data centers for their daily business operations. These include CSPs such as Amazon Web Service (AWS), Microsoft Azure, and Google Cloud. The increase in cloud activities will lead to a high requirement for data centers, thereby driving the market for chiller systems.
According to Anju Ajaykumar, a lead analyst at Technavio for unit operations research, “Vendors are focusing on providing cost-effective equipment that suits the energy-efficiency needs of customers and complies with green technology requirements. Chiller manufacturers are developing and launching eco-friendly equipment and phasing out CFC and HCFC usage in HVAC equipment. These developments in chiller technology are expected to boost the growth of the market.”
VRF
Variable Refrigerant Flow (VRF) air conditioners are a type of HVAC that offer high flexibility in systems, with simultaneous heating and cooling. VRF systems are typically installed in commercial buildings such as office spaces, data centers, high-rise buildings, hospitals, hotels, and restaurants. This technology is quite popular in European and APAC countries.
“As most of the commercial buildings globally use ducted HVAC systems, VRF technology was not very popular. However, stringent regulations on carbon emissions will force consumers to use VRF systems that offer high energy efficiency. Upcoming mega-construction projects in the UK are expected to impact the market in Europe positively,” says Anju.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Carrier
- Daikin
- Johnson Controls
- LG
- Mitsubishi Electric
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