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report thumbnailAsia Pacific Commercial Air Conditioner Market

Asia Pacific Commercial Air Conditioner Market Is Set To Reach USD billion  By 2032, Growing At A CAGR Of 20.3

Asia Pacific Commercial Air Conditioner Market, Forecast 2024-2032

Nov 16 2024
Base Year: 2023
120 Pages
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Asia Pacific Commercial Air Conditioner Market Is Set To Reach USD billion  By 2032, Growing At A CAGR Of 20.3

Key Insights

The Asia Pacific Commercial Air Conditioner Market size was valued at USD 12.18 USD billion in 2023 and is projected to reach USD 44.41 USD billion by 2032, exhibiting a CAGR of 20.3 % during the forecast period. The Asia Pacific commercial air conditioner is a fairly established market that deals in the provision of cooling to commercial establishments across the region. As a market that provides cooling solutions on a vast scale, this segment comprises different forms of air conditioning solutions that may be deployed based on the need of the specific application. In addition to split systems, there are options such as roof-top units and VRF (Variable Refrigerant Flow) systems that can be installed in different types of commercial environments. It consists of features like energy rating, smart controls, and enhanced cooling, making these air conditioning units provide uniform comfort and control over the climate and energy usage. They are widely used in offices, shopping centres, hotels, hospitals, and all other commercial places thus benefiting the occupants and reducing productivity rates. The advantages associated with Asia Pacific commercial air conditioners, therefore, cannot be relegated to simply cooling only, but also include a better indoor environment, reduced costs for operation, and longer lifespan of equipment.

Asia Pacific Commercial Air Conditioner Market Research Report - Market Size, Growth & Forecast

Asia Pacific Commercial Air Conditioner Trends

  • Increasing adoption of energy-efficient technologies
  • Growing demand for VRF/VRV systems
  • Shift towards natural refrigerants
  • Rising focus on indoor air quality

Driving Forces: What's Propelling the Asia Pacific Commercial Air Conditioner Market

  • Rapid urbanization and burgeoning infrastructure development
  • Flourishing commercial real estate industry
  • Government incentives and regulations promoting energy efficiency
  • Increased disposable income and rising living standards
  • Growing focus on sustainability and environmental consciousness

Challenges and Restraints in Asia Pacific Commercial Air Conditioner Market

  • Fluctuating raw material prices
  • Intense competition from global players
  • Lack of skilled labour in installation and maintenance

Emerging Trends in Asia Pacific Commercial Air Conditioner

  • Integration of smart technologies and IoT
  • Development of AI-based air management systems
  • Growing adoption of cloud-based services

Growth Catalysts in Asia Pacific Commercial Air Conditioner Industry

Asia Pacific Commercial Air Conditioner Market Growth
  • Government incentives and regulations
  • Technological advancements in energy efficiency
  • Increasing awareness of indoor air quality

Market Segmentation: Asia Pacific Commercial Air Conditioner Analysis

Type:

  • Packaged AC
  • VRF/VRV

Refrigerant:

  • R-32
  • R-410A/R-407C
  • R-600A/R-290
  • Others

End-User:

  • Healthcare
  • Educational/Institutional
  • Public/Government
  • Retail
  • Hospitality
  • Manufacturing

Leading Players in the Asia Pacific Commercial Air Conditioner Market

  • Carrier (U.S.)
  • DAIKIN INDUSTRIES, Ltd. (Japan) 
  • Johnson Controls (Ireland)
  • Mitsubishi Electric Corporation (Japan) 
  • LG Electronics (South Korea) 
  • SAMSUNG (South Korea) 
  • Trane (Ingersoll Rand) (Ireland)
  • Blue Star Limited (India) 
  • FUJITSU (Japan) 
  • AIREDALE INTERNATIONAL AIR CONDITIONING LTD. (U.K.)

Significant Developments in the Asia Pacific Commercial Air Conditioner Sector

  • Carrier's launch of the AquaEdge® 19DV centrifugal chiller with HFO-1234ze refrigerant
  • DAIKIN's development of VRV IV+ with advanced control and energy-saving features
  • Johnson Controls' acquisition of Sensormatic, a provider of smart technologies for commercial buildings
  • Mitsubishi Electric's partnership with IBM to develop AI-based air conditioning systems

Comprehensive Coverage Asia Pacific Commercial Air Conditioner Market Report

The report provides a comprehensive analysis of the Asia Pacific commercial air conditioner market, including market size, growth trends, drivers, challenges, emerging technologies, and competitive landscape.

Regional Insight

The report provides granular insights into the market dynamics within each sub-region of the Asia Pacific, including China, India, Japan, South Korea, Southeast Asia, and Australia.

Asia Pacific Commercial Air Conditioner Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2018-2032
Base Year 2023
Estimated Year 2024
Forecast Period2024-2032
Historical Period2018-2023
Growth RateCAGR of 20.3% from 2018-2032
Segmentation
  • By Type
    • Packaged AC and VRF/VRV
  • By Refrigerant
    • R-32
    • R-410A/R-407C
    • R-600A/R-290
    • and Others
  • By End-User
    • Healthcare
    • Educational/Institutional
    • Public/Government
    • Retail
    • Hospitality
    • and Manufacturing
  • By Geography
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Australia
    • Rest of Asia-Pacific

Frequently Asked Questions

Table Of Content
  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Rising Demand from the Automotive and Construction Sectors to Aid Market Growth
      • 3.3. Market Restrains
        • 3.3.1. Threat of Refrigerants Causing Global Warming May Obstruct Growth
      • 3.4. Market Trends
        • 3.4.1. Technological Advancement in Equipment to Propel Market Growth
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 5.1. Market Analysis, Insights and Forecast - By Type
        • 5.1.1. Packaged AC and VRF/VRV
      • 5.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 5.2.1 R-32
        • 5.2.2 R-410A/R-407C
        • 5.2.3 R-600A/R-290
        • 5.2.4 and Others
      • 5.3. Market Analysis, Insights and Forecast - By End-User
        • 5.3.1 Healthcare
        • 5.3.2 Educational/Institutional
        • 5.3.3 Public/Government
        • 5.3.4 Retail
        • 5.3.5 Hospitality
        • 5.3.6 and Manufacturing
      • 5.4. Market Analysis, Insights and Forecast - By Region
        • 5.4.1 China
        • 5.4.2 Japan
        • 5.4.3 India
        • 5.4.4 South Korea
        • 5.4.5 Taiwan
        • 5.4.6 Australia
        • 5.4.7 Rest of Asia-Pacific
  6. 6. China Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 6.1. Market Analysis, Insights and Forecast - By Type
        • 6.1.1. Packaged AC and VRF/VRV
      • 6.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 6.2.1 R-32
        • 6.2.2 R-410A/R-407C
        • 6.2.3 R-600A/R-290
        • 6.2.4 and Others
      • 6.3. Market Analysis, Insights and Forecast - By End-User
        • 6.3.1 Healthcare
        • 6.3.2 Educational/Institutional
        • 6.3.3 Public/Government
        • 6.3.4 Retail
        • 6.3.5 Hospitality
        • 6.3.6 and Manufacturing
  7. 7. Japan Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 7.1. Market Analysis, Insights and Forecast - By Type
        • 7.1.1. Packaged AC and VRF/VRV
      • 7.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 7.2.1 R-32
        • 7.2.2 R-410A/R-407C
        • 7.2.3 R-600A/R-290
        • 7.2.4 and Others
      • 7.3. Market Analysis, Insights and Forecast - By End-User
        • 7.3.1 Healthcare
        • 7.3.2 Educational/Institutional
        • 7.3.3 Public/Government
        • 7.3.4 Retail
        • 7.3.5 Hospitality
        • 7.3.6 and Manufacturing
  8. 8. India Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 8.1. Market Analysis, Insights and Forecast - By Type
        • 8.1.1. Packaged AC and VRF/VRV
      • 8.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 8.2.1 R-32
        • 8.2.2 R-410A/R-407C
        • 8.2.3 R-600A/R-290
        • 8.2.4 and Others
      • 8.3. Market Analysis, Insights and Forecast - By End-User
        • 8.3.1 Healthcare
        • 8.3.2 Educational/Institutional
        • 8.3.3 Public/Government
        • 8.3.4 Retail
        • 8.3.5 Hospitality
        • 8.3.6 and Manufacturing
  9. 9. South Korea Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 9.1. Market Analysis, Insights and Forecast - By Type
        • 9.1.1. Packaged AC and VRF/VRV
      • 9.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 9.2.1 R-32
        • 9.2.2 R-410A/R-407C
        • 9.2.3 R-600A/R-290
        • 9.2.4 and Others
      • 9.3. Market Analysis, Insights and Forecast - By End-User
        • 9.3.1 Healthcare
        • 9.3.2 Educational/Institutional
        • 9.3.3 Public/Government
        • 9.3.4 Retail
        • 9.3.5 Hospitality
        • 9.3.6 and Manufacturing
  10. 10. Taiwan Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 10.1. Market Analysis, Insights and Forecast - By Type
        • 10.1.1. Packaged AC and VRF/VRV
      • 10.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 10.2.1 R-32
        • 10.2.2 R-410A/R-407C
        • 10.2.3 R-600A/R-290
        • 10.2.4 and Others
      • 10.3. Market Analysis, Insights and Forecast - By End-User
        • 10.3.1 Healthcare
        • 10.3.2 Educational/Institutional
        • 10.3.3 Public/Government
        • 10.3.4 Retail
        • 10.3.5 Hospitality
        • 10.3.6 and Manufacturing
  11. 11. Australia Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 11.1. Market Analysis, Insights and Forecast - By Type
        • 11.1.1. Packaged AC and VRF/VRV
      • 11.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 11.2.1 R-32
        • 11.2.2 R-410A/R-407C
        • 11.2.3 R-600A/R-290
        • 11.2.4 and Others
      • 11.3. Market Analysis, Insights and Forecast - By End-User
        • 11.3.1 Healthcare
        • 11.3.2 Educational/Institutional
        • 11.3.3 Public/Government
        • 11.3.4 Retail
        • 11.3.5 Hospitality
        • 11.3.6 and Manufacturing
  12. 12. Rest of Asia-Pacific Asia Pacific Commercial Air Conditioner Market Analysis, Insights and Forecast, 2018-2030
      • 12.1. Market Analysis, Insights and Forecast - By Type
        • 12.1.1. Packaged AC and VRF/VRV
      • 12.2. Market Analysis, Insights and Forecast - By Refrigerant
        • 12.2.1 R-32
        • 12.2.2 R-410A/R-407C
        • 12.2.3 R-600A/R-290
        • 12.2.4 and Others
      • 12.3. Market Analysis, Insights and Forecast - By End-User
        • 12.3.1 Healthcare
        • 12.3.2 Educational/Institutional
        • 12.3.3 Public/Government
        • 12.3.4 Retail
        • 12.3.5 Hospitality
        • 12.3.6 and Manufacturing
  13. 13. Competitive Analysis
    • 13.1. Market Share Analysis 2023
      • 13.2. Company Profiles
        • 13.2.1 Carrier (U.S.)
          • 13.2.1.1. Overview
          • 13.2.1.2. Products
          • 13.2.1.3. SWOT Analysis
          • 13.2.1.4. Recent Developments
          • 13.2.1.5. Financials (Based on Availability)
        • 13.2.2 DAIKIN INDUSTRIES Ltd. (Japan)
          • 13.2.2.1. Overview
          • 13.2.2.2. Products
          • 13.2.2.3. SWOT Analysis
          • 13.2.2.4. Recent Developments
          • 13.2.2.5. Financials (Based on Availability)
        • 13.2.3 Johnson Controls (Ireland)
          • 13.2.3.1. Overview
          • 13.2.3.2. Products
          • 13.2.3.3. SWOT Analysis
          • 13.2.3.4. Recent Developments
          • 13.2.3.5. Financials (Based on Availability)
        • 13.2.4 Mitsubishi Electric Corporation (Japan)
          • 13.2.4.1. Overview
          • 13.2.4.2. Products
          • 13.2.4.3. SWOT Analysis
          • 13.2.4.4. Recent Developments
          • 13.2.4.5. Financials (Based on Availability)
        • 13.2.5 LG Electronics (South Korea)
          • 13.2.5.1. Overview
          • 13.2.5.2. Products
          • 13.2.5.3. SWOT Analysis
          • 13.2.5.4. Recent Developments
          • 13.2.5.5. Financials (Based on Availability)
        • 13.2.6 SAMSUNG (South Korea)
          • 13.2.6.1. Overview
          • 13.2.6.2. Products
          • 13.2.6.3. SWOT Analysis
          • 13.2.6.4. Recent Developments
          • 13.2.6.5. Financials (Based on Availability)
        • 13.2.7 Trane (Ingersoll Rand) (Ireland)
          • 13.2.7.1. Overview
          • 13.2.7.2. Products
          • 13.2.7.3. SWOT Analysis
          • 13.2.7.4. Recent Developments
          • 13.2.7.5. Financials (Based on Availability)
        • 13.2.8 Blue Star Limited (India)
          • 13.2.8.1. Overview
          • 13.2.8.2. Products
          • 13.2.8.3. SWOT Analysis
          • 13.2.8.4. Recent Developments
          • 13.2.8.5. Financials (Based on Availability)
        • 13.2.9 FUJITSU (Japan)
          • 13.2.9.1. Overview
          • 13.2.9.2. Products
          • 13.2.9.3. SWOT Analysis
          • 13.2.9.4. Recent Developments
          • 13.2.9.5. Financials (Based on Availability)
        • 13.2.10 AIREDALE INTERNATIONAL AIR CONDITIONING LTD. (U.K.)
          • 13.2.10.1. Overview
          • 13.2.10.2. Products
          • 13.2.10.3. SWOT Analysis
          • 13.2.10.4. Recent Developments
          • 13.2.10.5. Financials (Based on Availability)
List of Figures
  1. Figure 1: Asia Pacific Commercial Air Conditioner Market Revenue Breakdown (USD billion, %) by Product 2023 & 2031
  2. Figure 2: Asia Pacific Commercial Air Conditioner Market Value Share (%), by Type 2023 & 2031
  3. Figure 3: Asia Pacific Commercial Air Conditioner Market Value Share (%), by Refrigerant 2023 & 2031
  4. Figure 4: Asia Pacific Commercial Air Conditioner Market Value Share (%), by End-User 2023 & 2031
  5. Figure 5: Asia Pacific Commercial Air Conditioner Market Share (%) by Company 2023
List of Tables
  1. Table 1: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Type 2018 & 2031
  2. Table 2: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Type 2018 & 2031
  3. Table 3: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Refrigerant 2018 & 2031
  4. Table 4: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Refrigerant 2018 & 2031
  5. Table 5: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by End-User 2018 & 2031
  6. Table 6: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by End-User 2018 & 2031
  7. Table 7: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Region 2018 & 2031
  8. Table 8: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Region 2018 & 2031
  9. Table 9: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Region 2018 & 2031
  10. Table 10: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Region 2018 & 2031
  11. Table 11: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Type 2018 & 2031
  12. Table 12: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Type 2018 & 2031
  13. Table 13: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Refrigerant 2018 & 2031
  14. Table 14: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Refrigerant 2018 & 2031
  15. Table 15: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by End-User 2018 & 2031
  16. Table 16: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by End-User 2018 & 2031
  17. Table 17: Asia Pacific Commercial Air Conditioner Market Revenue USD billion Forecast, by Country 2018 & 2031
  18. Table 18: Asia Pacific Commercial Air Conditioner Market Volume K Units Forecast, by Country 2018 & 2031
  19. Table 19: China Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  20. Table 20: China Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  21. Table 21: Japan Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  22. Table 22: Japan Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  23. Table 23: India Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  24. Table 24: India Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  25. Table 25: South Korea Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  26. Table 26: South Korea Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  27. Table 27: Taiwan Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  28. Table 28: Taiwan Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  29. Table 29: Australia Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  30. Table 30: Australia Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
  31. Table 31: Rest of Asia-Pacific Asia Pacific Commercial Air Conditioner Market Revenue (USD billion) Forecast, by Application 2018 & 2031
  32. Table 32: Rest of Asia-Pacific Asia Pacific Commercial Air Conditioner Market Volume (K Units) Forecast, by Application 2018 & 2031
AspectsDetails
Study Period 2018-2032
Base Year 2023
Estimated Year 2024
Forecast Period2024-2032
Historical Period2018-2023
Growth RateCAGR of 20.3% from 2018-2032
Segmentation
  • By Type
    • Packaged AC and VRF/VRV
  • By Refrigerant
    • R-32
    • R-410A/R-407C
    • R-600A/R-290
    • and Others
  • By End-User
    • Healthcare
    • Educational/Institutional
    • Public/Government
    • Retail
    • Hospitality
    • and Manufacturing
  • By Geography
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Australia
    • Rest of Asia-Pacific

STEP 1 - Identification of Relevant Samples Size from Population Database

Step Chart
bar chart
method chart

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

approach chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
approach chart

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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