Packaged AC System Market
Global Packaged AC System Market Size, Share & Trends Analysis Report by Condenser Type (Water Cooled Type and Air Cooled Type), By Type (Inverter Type and Non Inverter Type), By End-User (Residential, Commercial, and Others) Forecast Period 2021-2027 Update Available - Forecast 2024-2030
The global packaged AC system market is anticipated to grow at a significant CAGR of 4.8% during the forecast period. Packaged AC system is the extended version of window air conditioners. These ACs have high cooling and heating capacity and also capable of cooling the entire commercial building. Packaged AC system is increasingly adopted by various industry such as business enterprise, healthcare industry, education institutions, and so on, due to its cost-effectiveness and compact sizing. The ACs are manufactured by using a component such as evaporators, compressors, condenser and other desired component for cooling and heating. The packaged ACs are of two types water-cooled and air-cooled. The need for energy-efficient and portable air conditioners is responsible for the growth of this market.
Additionally, the rising temperature in several geographical regions is also dominating the market of packaged air conditioners. Around 40% of the global population lives in tropical regions where they are exposed to life-threatening temperatures for at least 20 days every year. According to Daikin Industries, Ltd., 12 thousand people annually die due to these heatwaves. The World Health Organization (WHO) had estimated that more than 255 thousand people will be killed annually from this heatwave in 2050. Thus it makes AC systems to be considered necessary for life and not in the luxurious category.
Impact of COVID-19 Pandemic on Global Packaged AC System Market
The outbreak of COVID-19 had severely impacted the packaged AC system market. AC systems intake the warm air of the room to be cooled and cools it with the help of condensers, after cooling AC revert that cooled air to the room. This was studied by WHO that such working of AC can enable the propagation of COVID-19 virus if there is an infected person present in the room. Due to this WHO had recommended not to use packaged AC systems, especially centralized AC systems at commercial or institutional buildings. This had reduced the sales of packaged AC systems globally. According to the survey commissioned by Lennox, 61% of homeowners are willing to spend money to improve the quality of air in their room in the current COVID-19 situation. Lots of companies are taking this as an opportunity to upgrade their products by installing air purifiers additionally with the earlier AC system. For instance, Blue Star, Ltd. in March 2021 had launched a new range of inverter split ACs which have air purifiers inbuilt in them.
Segmental Outlook
The global packaged AC system market is segmented based on condenser type, compressor type, and end-user. Based on the condenser type, the market is segmented into water-cooled type and air-cooled type. Based on the compressor, the market is segmented into inverter type and non-inverter type. Apart from this, by end-users, the market is segmented into residential, commercial, and others.
Global Packaged AC System Market Share by Type, 2020 (%)
Inverter Type Packaged AC Systems are getting more Popularized in the Market
The inverter type packaged AC systems are getting more popularized as compared to the non-inverter packaged AC systems due to the ease of fluctuating the compressor pressure which can enable to change AC temperature. This type is most commonly used in residential and institutional buildings, however commercial and industrial buildings generally prefer to use non-inverter packaged AC systems due to their low maintenance and their specific requirements of maintaining a certain temperature.
Air-cooled packaged AC systems are preferred by residential users due to their easy installation and low maintenance. However, water-cooled packaged AC systems are 10-100 times more consistent than air-cooled types. This water-cooled type systems require huge installation systems and maintenance that's why only it is mostly used in commercial complexes.
Regional Outlooks
The global packaged AC system market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others0, and the Rest of the World (the Middle East and Africa, and Latin America). North America holds the major share in the global packaged AC system market due to its well-developed infrastructure, technology, and economy. According to Daikin Industries, Ltd. 90% population of the US and Japan have AC systems.
Global Packaged AC System Market Growth, by Region 2021-2027
Europe is Projected to have Considerable Growth in the Global Packaged AC System Market
The European region is expected to have high growth opportunities for the packaged AC system market. The increasing number of AC manufacturers in Western Europe will significantly boost the market growth of packaged AC systems. The Asia-Pacific region is expected to have lucrative growth for this market driven by increasing population and urbanization in this region. Moderate growth is expected from the Latin America region.
Market Players Outlook
The key players of the packaged AC system market include Blue Star, Ltd., Daikin Industries, Ltd., ETA General Pvt. Ltd., Hitachi Appliances, Inc., Johnson Controls, Inc., Lennox International, Inc., LG Electronics, Inc., Panasonic Corp., , Voltas, Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches with innovation in current models, to stay competitive in the market. For instance, Blue Star, Ltd. has used wi-fi connectivity and voice command technology to innovated their packaged AC systems.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global packaged AC system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Packaged AC System Market
• Recovery Scenario of Global Packaged AC System Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Packaged AC System Market by Condenser Type
5.1.1. Water Cooled Type
5.1.2. Air Cooled Type
5.2. Global Packaged AC System Market by Type
5.2.1. Inverter Type
5.2.2. Non Inverter Type
5.3. Global Packaged AC System Market by End-User
5.3.1. Residential
5.3.2. Commercial
5.3.3. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Blue Star, Ltd.
7.2. Carrier Corp.
7.3. Daikin Industries, Ltd.
7.4. ETA General Pvt. Ltd.
7.5. Fujitsu General, Ltd.
7.6. Goodman Manufacturing Company, L.P.
7.7. Gree Electric Appliances, Inc.
7.8. Hitachi Appliances, Inc.
7.9. Johnson Controls, Inc.
7.10. Lennox International, Inc.
7.11. LG Electronics, Inc.
7.12. Mitsubishi Electric Corp.
7.13. Panasonic Corp.
7.14. Rheem Manufacturing Co.
7.15. Samsung Electronics Co., Ltd.
7.16. Shanghai Shenglin M&E Technology Co., Ltd.
7.17. Sidwal Refrigeration Industries Pvt. Ltd.
7.18. TraneTechnologies Company, LLC
7.19. Voltas, Ltd.
7.20. Weatherite Air Conditioning, Ltd.
7.21. Whirlpool Corp.
1. GLOBAL PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY CONDENSER TYPE, 2020-2027 ($ MILLION)
2. GLOBAL WATER COOLED TYPE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL AIR COOLED TYPE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
5. GLOBAL INVERTER TYPE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL NON INVERTER TYPE MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
8. GLOBAL PACKAGED AC FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
9. GLOBAL PACKAGED AC FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
10. GLOBAL PACKAGED AC FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2020-2027 ($ MILLION)
11. GLOBAL PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
12. NORTH AMERICAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
13. NORTH AMERICAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY CONDENSER TYPE, 2020-2027 ($ MILLION)
14. NORTH AMERICAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
15. NORTH AMERICAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
16. EUROPEAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
17. EUROPEAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY CONDENSER TYPE, 2020-2027 ($ MILLION)
18. EUROPEAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
19. EUROPEAN PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
20. ASIA-PACIFIC PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
21. ASIA-PACIFIC PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY CONDENSER TYPE, 2020-2027 ($ MILLION)
22. ASIA-PACIFIC PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
23. ASIA-PACIFIC PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY END-USER, 2020-2027 ($ MILLION)
24. REST OF THE WORLD PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
25. REST OF THE WORLD PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY CONDENSER TYPE, 2020-2027 ($ MILLION)
26. REST OF THE WORLD PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY TYPE, 2020-2027 ($ MILLION)
27. REST OF THE WORLD PACKAGED AC SYSTEM MARKET RESEARCH AND ANALYSIS BY END USER, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL PACKAGED AC SYSTEM MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL PACKAGED AC SYSTEM MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL PACKAGED AC SYSTEM MARKET, 2021-2027 (%)
4. GLOBAL PACKAGED AC SYSTEM MARKET SHARE BY CONDENSER TYPE, 2020 VS 2027 (%)
5. GLOBAL WATER COOLED TYPE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
6. GLOBAL AIR COOLED TYPE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
7. GLOBAL PACKAGED AC SYSTEM MARKET SHARE BY COMPRESER TYPE, 2020 VS 2027 (%)
8. GLOBAL INVERTER TYPE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
9. GLOBAL NON INVERTER TYPE MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
10. GLOBAL PACKAGED AC SYSTEM MARKET SHARE BY END-USER, 2020 VS 2027 (%)
11. GLOBAL PACKAGED AC SYSTEM FOR RESIDENTIAL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
12. GLOBAL PACKAGED AC SYSTEM FOR COMMERCIAL MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
13. GLOBAL PACKAGED AC SYSTEM FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
14. GLOBAL PACKAGED AC SYSTEM MARKET SHARE BY GEOGRAPHY, 2020 VS 2027 (%)
15. NORTH AMERICAN PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
16. UNITED STATES PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
17. CANADA PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
18. EUROPEAN PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
19. UK PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
20. GERMANY PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
21. SPAIN PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
22. FRANCE PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
23. ITALY PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
24. ROE PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
25. ASIA-PACIFIC PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
26. INDIA PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
27. CHINA PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
28. JAPAN PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
29. SOUTH KOREA PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
30. REST OF ASIA-PACIFIC PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
31. REST OF THE WORLD PACKAGED AC SYSTEM MARKET SIZE, 2017-2023 ($ MILLION)
