North America Air Conditioning Systems Market Is Expected To Witness Vigorous Expansion Owing To Increasing Incidences of Climatic Variations Till 2020 | Million Insights

North America Air Conditioning Systems Market Is Expected To Witness Vigorous Expansion Owing To Increasing Incidences of Climatic Variations Till 2020 | Million Insights

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According to new report available with Million Insights, the North America air conditioning systems market is anticipated to expand in terms of units from 34.81 million in 2013 to 50.02 million in 2020 and is expected to witness a CAGR of 5.3% during the forecasted years, 2014-2020.

The North America Air Conditioning Systems Market size is anticipated to reach USD 52.56 billion by the end of 2020. This growth can be associated with rising incidences of climatic variations across various geographical regions in North America. Moreover, stringent rules and regulations being imposed by statutory governing bodies regarding the usage of power-saving appliances is expected to fuel up the market demand in the upcoming years.

The split air conditioning system held the largest share of around 60% and is expected to continue its dominance from 2014 to 2020 owing to its salient features like reduction in noise levels, less cost of installation, and ease of handling. The portable system is also anticipated to register significant growth in the upcoming years due to its ease of usage.

The residential segment of application held the largest share exceeding 40% across the North American market in 2013. On the other hand, the commercial application segment is expected to register significant growth. In addition, demand for portable air conditioning systems for activities like trekking, and other outdoor activities is expected to fuel up the demand over the forecast period.

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The market for air conditioning systems in North American countries like U.S., Canada, and Mexico is expected to expand on account of diverse climatic conditions. U.S. is expected to hold the highest share of 83.5% across the regional market of North America. Moreover, rising trend of using power-efficient appliances across developed countries like U.S. is expected to positively impact market growth. Mexico is expected to witness significant growth with 10.3% CAGR from 2014 to 2020.

The North America air conditioning systems market includes key players like Arcelik, BSH Group, Daikin Industries Ltd., Carrier Corporation, Hitachi, Mitsubishi, and Ingersoll Rand. They are continuously engaged in product development and innovation for gaining a competitive advantage. They are also focusing on implementing various marketing strategies like joint ventures, acquisitions, and mergers.

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Further key findings from the report suggest:

• The split air conditioning systems held the largest share of around 60% across the global market in 2013.

• The residential segment of application held the largest share exceeding 40% across the North American market in 2013.

• Mexico is anticipated to witness significant growth with 10.3% CAGR from 2014 to 2020.

• The key players in this market are Daikin Industries Ltd., Carrier Corporation, Hitachi, and Mitsubishi.

Million Insights has segmented the North America air conditioning systems market on the basis of product, application, and region:

Air Conditioning Systems Product Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 – 2020)
    • Portable Air Conditioning Systems
    • Window Air Conditioning Systems
    • Split Air Conditioning Systems
    • Single Packaged Air Conditioning Systems
    • Chillers
    • Airside Conditioning Systems

Air Conditioning Systems Application Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 – 2020)
    • Residential
    • Commercial
    • Industrial

Air Conditioning Systems Regional Outlook (Volume, Thousand Units and Revenue, USD Million; 2012 – 2020)
    • U.S.
    • Canada
    • Mexico

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