ShareNorth American air conditioning market
North American air-conditioning market expects growth to USD 52.56 billion by 2020, said Grand View Research in its latest report.
North American air-conditioning market is expected to grow to USD 52.56 billion by 2020, said Grand View Research in its latest report.
The growing construction industry is pushing air conditioners sales in residential, commercial, and industrial markets. Monitoring measures on energy efficiency will also accelerate market growth in the next six years.
The report outlined the following:
- Sales of split air-conditioning systems exceeded 60% of the total in 2013 thanks to their installation flexibility and relatively low costs as well as multiple control modes available with its modularized and independent functions.
- Sales of portal air conditioning devices will rise the fastest due to greater convenience.
- The residential sector grabbed 40% of the total market in 2013 and will continue to dominate this industry. The commercial sector, including tourism and construction industries, will outgrow the global average.
The Unites States still dominates the North American market with a share over 83% in 2013 and will maintain a dominant role in the future following results of energy efficiency guideline released by the US Environmental protection Agency.
Mexico is set to be the fastest growing regional market with compound annual growth rate (CAGR) of 10.3% from 2014 to 2020.
Leaders in the industry, such as Daikin, Trane, Carrier, Hitachi, Johnson Controls and Mitsubishi Electric, are expanding market share using diverse strategies including mergers, acquisitions and strategic partnerships.
Source: Jarn July 2014
The growing construction industry is pushing air conditioners sales in residential, commercial, and industrial markets. Monitoring measures on energy efficiency will also accelerate market growth in the next six years.
The report outlined the following:
- Sales of split air-conditioning systems exceeded 60% of the total in 2013 thanks to their installation flexibility and relatively low costs as well as multiple control modes available with its modularized and independent functions.
- Sales of portal air conditioning devices will rise the fastest due to greater convenience.
- The residential sector grabbed 40% of the total market in 2013 and will continue to dominate this industry. The commercial sector, including tourism and construction industries, will outgrow the global average.
The Unites States still dominates the North American market with a share over 83% in 2013 and will maintain a dominant role in the future following results of energy efficiency guideline released by the US Environmental protection Agency.
Mexico is set to be the fastest growing regional market with compound annual growth rate (CAGR) of 10.3% from 2014 to 2020.
Leaders in the industry, such as Daikin, Trane, Carrier, Hitachi, Johnson Controls and Mitsubishi Electric, are expanding market share using diverse strategies including mergers, acquisitions and strategic partnerships.
Source: Jarn July 2014