The global packaged AC system market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2024-2031). The increasing urbanization and rising per capita income are driving the packaged AC system market during the forecast period. Additionally, as the earth’s temperature is rising gradually due to global warming, the need for a cooling system is required. According to Daikin Industries, Ltd. 2.8 billion people are living in a tropical region that is exposed to hazardous heat waves. Only 8% of these people have excess to the cooling systems. This had created the extreme requirement of AC systems.
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COVID-19 had changed the thinking as World Health Organization had studied that AC can enable the spread of this deadliest virus. Additionally, lots of studies had proved that chemicals used in ACs as coolant if get leaked to the atmosphere then it will be very hazardous for surrounding due to which governments across the globe had made strict regulations for the manufacturing and usage of ACs. Lots of companies in this market are working hard to overcome these challenges by continuous research and innovation to serve human society. Packaged AC system is one of those innovations in which all the components of traditional AC are assembled in a single unit. This had eased the installation and maintenance requirements of ACs. Still, the market players are innovating more for sustainability.
To cater to the emerging and varied needs of the customers, Blue Star, Ltd. had launched a new affordable range of inverter spilt ACs whose cooling capacity ranges from 0.80TR to 2TR. Additionally, these ACs are featured with Eco-Mode, Comfort Sleep, power-saving, and Self-Diagnosis modes which can ease customer’s experience. These ACs are also equipped with wi-fi and voice command technology. The company had also recently launched a range of innovative ACs with in-built air purifiers especially prepared for the COVID-19 situation.
Similarly, Mitsubishi Electric Corp. in June 2020 had launched the MSY-JR series of inverter ACs with a capacity of up to 3 TR. The additional features equipped in this AC are power saving, long airflow, fast cooling, sleep mode, grooved piping, anti-rust, 24 hours timer, auto restart, and many more. The company is also updating its products to improve air quality.
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Market Coverage
- Segment Covered-
o By Condenser Type
o By Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- 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.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Packaged AC system Market Report Segment
By Condenser Type
- Water Cooled Type
- Air Cooled Type
By Type
- Inverter Type
- Non Inverter Type
By End-User
- Residential
- Commercial
- Others
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