A packaged air-conditioner is a larger version of window ACs. Research suggests that the future of the construction industry worldwide looks good with opportunities in residential, non-residential, and infrastructure activities. Rise in construction activities across the globe is one of the major factors propelling the growth of the global packaged air conditioner market.
Rising disposable income of people and growing issue of global warming are expected to drive the global packaged air-conditioner market during the forecast period. Rising disposable income leads to people spending more on consumer durables and electronic appliances
Additionally, increase in consumer awareness about brands is expected to boost the packaged air conditioner market during the forecast period. As consumers become aware of the choices available to them, they would make informed purchasing decisions and this would impact manufacturers by affecting the production strategies of the packaged air conditioner makers, which would be tailored to effectively target the end user. This implies that manufacturers need to adopt better marketing strategies to effectively communicate product features to consumers
Moreover, consumers purchase ACs that have better power rating i.e. systems that can offer the maximum power savings and lower monthly electricity bills. Rise in the demand from the commercial sector with rise in business activity would increase the growth of the packaged air conditioners market from the commercial segment owing to increasing air-conditioning needs from offices and establishments
Intense competition in the market and rising concerns regarding negative effects of using air-conditioners on the environment are expected to restrain the global packaged air conditioner market during the forecast period
Increasing competition in the packaged air conditioner market led by the large number of manufacturers would restrain the business of the AC manufacturers in the short to medium period as a result of high competition
Additionally, refrigerant used in ACs are subject to regulations and this is estimated to affect the production of packaged air conditioners as well as business decisions of manufacturers during the forecast period
Rising disposable income and growing brand awareness are projected to present an opportunity to manufacturers operating in the global packaged air conditioner market during the forecast period. With rising income, consumers are spending higher amounts on durable goods and, at the same time, they are spending more time in researching on AC models most suitable for their needs
The increased spending and consumer awareness presents a growth opportunity in the new product space and also in the area of better marketing and advertising initiatives of the final products. The opportunity can be monetized effectively by the manufacturers to achieve better sales growth
The global packaged air conditioner market can be segmented based on capacity, star rating, distribution channel, end-user, and region. Based on capacity, the market can be classified into 3 tons, 5 tons, 7 tons, 10 tons, and 15 tons
In terms of star rating, the global packaged air conditioner market can be categorized into 1-star, 2-star, 3-star, 4–star, and 5-star. The higher the star rating, the better is the power saving offered by packaged air conditioners
Based on distribution channel, the market can be segregated into online and offline. In terms of end-user, the market can be segregated into residential and commercial.
In terms of geography, the global packaged air conditioner market can be segmented into North America, South America, Asia Pacific, Middle East and Africa, and Europe. Furthermore, the regions are divided into prevailing countries such as U.S., Canada, Germany, France, Italy, U.K., GCC Countries, China, India, Japan, and Brazil
Johnson Controls, Goodman Manufacturing Company L.P, Blue Star Limited, Carrier Corporation, Panasonic Corporation, Infokool Solutions Pvt. Ltd., Mitsubishi Electric Corporation, Daikin, Trane, and Midea are some of the key manufacturers operating in the global packaged air conditioner market