North America Air Conditioner Market Worth .5 Billion By 2020
Posted by Marsh William on March 20th, 2019
North America air conditioner market size is expected to be valued at USD 52,560.7 million by 2020, as per a new research report by HexaResearch. Increasing usage of energy efficient air conditioners owing to declining energy consumption rate is expected to drive demand. Stringent government regulations in practice for decreasing energy consumption may play a key role in industry development. The increasing gap between energy supply and demand is compelling the government to take rigorous initiatives for the adoption of rated electrical appliances.
Split air conditioners dominated the North America air conditioning systems market, with revenue of USD 19,684.6 million in 2014. Airside air conditioning system was the second largest product segment, valued at USD 4,739.8 million in 2014. It is expected to grow at a CAGR of over 7.5% from 2014 to 2020. Flexibility and enhanced comfort level are factors likely to promote its demand.
Energy star rated air conditioning systems are expected to exhibit less energy consumption and release less green house gases. Augmentation in construction sector owing to increasing construction permits for construction of malls, industrial facilities and corporate offices is expected to elevate the industry growth. However; domestic manufacturers are anticipated to face profitability issues due to competition from Chinese imported substitutes.
Key report insights suggest:
About the AuthorMarsh William
Joined: August 11th, 2017
Articles Posted: 478
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