Demand for the North America air conditioner market owes to rising requirement for power-effective products. Demand for power rating, and stern policies in the U.S. about energy effectiveness promote this region. Rising consumer consciousness with regard to air conditioners is also anticipated to add sales to the U.S. market. Scientific progression has led to new products. This has also caused North America to expand.
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Air conditioners include the utilization of poisonous refrigerants that add to global warming. Hence, the market would expand due to substitution of other systems with air conditioners. China is a threat to the market as it sells products at lesser prices compared to branded ones. The North America air conditioner market may be affected by Chinese non-branded products.
The market is segmented into products, applications, and regions. In terms of products, split air conditioners offer many benefits. These are less initial costs, easy installation, and less noise. Split air conditioners function by efficiently separating the cold and hot sides of air conditioners. They were the biggest market product in 2014. This segment occupied more than 60 percent of the overall shares that year and will remain the same in the coming six years.
The second biggest product in 2014 was airside air conditioners. These air conditioners would grow on account of requirement for highly-effective models. In terms of applications, residential will lead the North America air conditioner market in the years to come. The commercial application mainly comprises travel, and construction industries, and clinics, hospitals, and health clubs. It is estimated to expand faster compared to the overall average.
Air conditioners in commercial applications will be propelled by individuals utilizing these products for outdoor and camping purposes. U.S. is reported to be the largest market in the forecast period. Canada will be the second largest market. Mexico’s varied climatic conditions and rising demand from consumer sectors are projected to steer this region. Participants in the North America air conditioner market have implemented strategies like mergers & acquisitions, and joint ventures to ensure profitability.
Some of the major companies in the market include Mitsubishi, Daikin Industries Ltd., Hitachi, Ingersoll Rand, and Carrier Corporation.
Information Source: Radiants Insights