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.
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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.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
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
Global Packaged AC System Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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.
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