Oct 23, 2017   SOURCE: BusinessWire

Packaged Air Conditioner Market - High Demand from Data Centers to Augment Growth | Technavio

The global packaged air conditioner market is expected to grow at a CAGR of more than 5% during the forecast period, according to Technavio’s latest market research.

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Technavio has published a new report on the global packaged air conditioner market from 2017-2021. ( ...

Technavio has published a new report on the global packaged air conditioner market from 2017-2021. (Graphic: Business Wire)

In this market research report, Technavio covers the market outlook and growth prospects of the global packaged air conditioner market for 2017-2021. The market is further categorized into two product segments, including packaged air conditioner with water-cooled condenser and packaged air conditioner with air-cooled condenser.

“Packaged air conditioners market is expected to witness considerable growth over the next five years as there is a global increase in residential and commercial construction because of rapid urban and economic growth. The rise in demand for luxury goods due to improving living standards are the key factors that will spur market growth over the forecast period,” says Gaurav Mohindru, a lead engineering tools research expert from Technavio.

Technavio’s research analysts segment the global packaged air conditioner market into the following regions:

  • Americas
  • APAC
  • EMEA

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Americas: largest market for packaged air conditioners

In the Americas, the US, Brazil, Canada, and Mexico account for the highest demand for packaged air conditioners, whereas the demand in other countries is extremely limited. The US alone accounts for more than 86% of the regional demand. The market for packaged air conditioners in the US has very high penetration due to the considerable number of individual homes and small businesses, where the cooling demand is perfectly met by packaged units.

Another factor driving the demand for packaged air conditioners in the region is the development of several new data centers in the US. The country currently holds the record for the largest number of data centers globally and is expected to add several more during the forecast period.

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APAC: high demand from industrial and commercial sector

The packaged air conditioner market in APAC is majorly consolidated in China, Japan, South Korea, and India. The demand for packaged air conditioners in most countries across APAC is very low due to an intense market challenge from window and split air conditioners, which are more economical.

Packaged air conditioners in this region mostly find use in industries and commercial buildings, whereas the demand in the residential segment is only marginal. The demand for packaged air conditioners in Australia and most developing countries in Asia has increased steadily between 2014-2016.

“The packaged air conditioner market in APAC is expected to maintain the highest growth rate globally, mostly due to rising demand in China and India. The industrial and commercial sector growth in these regions will be the biggest demand drivers for packaged air conditioners,” says Gaurav.

EMEA: high demand from the Middle East to boost growth

The biggest markets for packaged air conditioners in EMEA are Saudi Arabia, United Arab Emirates (UAE), and Spain. The countries in the Middle East experience hot and arid climate, and to no surprise, the demand for packaged air conditioners in the region is considerably high. The region is a major commercial hub and is ambitious to grow even further, which should further escalate the demand for packaged air conditioners over the forecast period.

The market for packaged air conditioners in Europe is relatively mature, due to which the growth in demand has been very slow between 2015-2016. However, with new EU regulations being rolled out, regarding the use of fluorine gas as refrigerants, and enhanced energy efficiency of newer packaged units, the replacement demand among existing users is certain to rise during the forecast period.

The top vendors in the global packaged air conditioner market as highlighted in this market research analysis are:

  • Carrier
  • DAIKIN INDUSTRIES
  • Johnson Controls
  • Lennox International
  • Ingersoll Rand

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