New Non-Residential Air Conditioners Market Research 2020-2024 | COVID-19 Industry Impact Analysis | Technavio

LONDON--(BUSINESS WIRE)--The new non-residential air conditioners market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the growing commercial construction in Europe,” says a senior analyst for Industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As markets recover, Technavio expects the non-residential air conditioners market size to grow by USD 1.84 billion during the period 2020-2024.

Non-Residential Air Conditioners Market Segment Highlights for 2020

• The non-residential air conditioners market is expected to post a year-over-year growth rate of -10.78%.
• Based on the product, the split systems segment saw maximum growth in 2019. Factors such as growing commercial construction will increase the growth of the segment.
• The growth of the segment will be significant during the forecast period.

Regional Analysis

• 37% of the growth will originate from the Russian Federation.
• The Russian Federation will offer several growth opportunities to market vendors during the forecast period. However, the segment growth in the Russian Federation will be slower than the growth in Italy, Spain, France, and Turkey.

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Notes:

• The non-residential air conditioners market size is expected to accelerate at a CAGR of over 2% during the forecast period.
• The non-residential air conditioners market is segmented by the product (Split systems, VRF systems, Chillers, Rooftops, and Others) and geography (Russian Federation, Italy, Spain, France, and Rest of Europe).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including ait-deutschland GmbH, Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, Haier Smart Home Co. Ltd., Johnson Controls International Plc, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.

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