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North America Air Conditioners Market
North America Air Conditioners Market by Type (Split, Window, Centralized/Ducted, Others), Tonnage (Up to 2 Tons, 2 Tons to 5 Tons, Others), Technology (Inverter, Non-inverter), End User (Residential, Commercial, Industrial), and Geography - Forecast to 2030
Report ID:MRSE - 104949 Pages: 200 Jul-2024 Formats*: PDF Category: Semiconductor and Electronics Delivery: 24 to 72 HoursThe North America Air Conditioners Market is projected to reach $55.5 billion by 2030, at a CAGR of 4.5% during the forecast period 2024–2030. The growth of the North America air conditioners market is attributed to the increasing temperatures and humidity levels, the growing consumer preference for convenience and comfort, and the rising demand for energy-efficient air conditioning systems. However, the high costs of air conditioners restrain the market’s growth.
The rising adoption of air conditioners with inverter and air purification technologies and technological advances in HVAC systems are creating growth opportunities for the players operating in this market. However, the high energy consumption associated with air conditioners poses a challenge to the market’s growth. Moreover, connected air conditioners and the emergence of solar photovoltaic (PV) and solar thermal-assisted air conditioning systems are notable trends in this market.
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Consumers’ Growing Inclination toward Convenience & Comfort Driving the North America Air Conditioners Market
Air conditioners provide comfort and convenience and reduce fatigue by offering users control over ambient temperature and humidity. Air conditioners also help improve indoor air quality and enable users to sleep better, resulting in overall well-being. They reduce exhaustion in work settings, thereby increasing productivity. As technology advances and lifestyles evolve, people increasingly seek air conditioning solutions that offer enhanced convenience, energy efficiency, and personalized comfort. Smart technology has revolutionized the way people interact with their air conditioning systems. Smart air conditioners can be controlled remotely through smartphone apps, allowing users to adjust settings, monitor energy consumption, and schedule cooling based on their preferences. Integration with virtual assistants like Amazon Alexa or Google Assistant also enables voice control for added convenience.
Modern air conditioners often come equipped with advanced thermostats that allow users to set precise temperature levels for different zones or rooms. This level of customization ensures that occupants can create comfortable environments tailored to their preferences. Consumers are becoming more aware of indoor air quality and its impact on health. Air conditioners equipped with advanced filtration systems, such as HEPA filters, can help remove allergens, dust, and pollutants from the air, providing a healthier indoor environment. As smart homes gain prominence, consumers seek air conditioning systems that seamlessly integrate with their overall home automation setup. This includes compatibility with other smart devices like lighting, security systems, and blinds, enabling centralized control through a single platform.
Key Findings in the North America Air Conditioners Market Study:
The Split ACs Segment to Dominate the North America Air Conditioners Market in 2024
Based on type, the North America air conditioners market is segmented into window ACs, split ACs, VRF (Variable Refrigerant Flow) systems, centralized/ducted ACs, and other air conditioner types. In 2024, the split ACs segment is expected to account for the largest share of the North America air conditioners market. Split AC systems are more energy efficient, use less energy, and keep indoor environments clean. The large market share of this segment is attributed to the increasing demand for energy-saving and low-noise air conditioners and major companies’ rising emphasis on providing quality air conditioners and launching a wide range of split ACs in the market.
The Inverter ACs Segment to Account for the Largest Market Share in 2024
Based on technology, the North America air conditioners market is segmented into inverter ACs and non-inverter ACs. In 2024, the inverter ACs segment is expected to account for the larger share of the North America air conditioners market. The large market share of this segment is attributed to advancements in inverter technology and AC manufacturers’ strong focus on product development and enhancement of inverter-powered ACs.
The Residential End Users Segment to Dominate the North America Air Conditioners Market in 2024
Based on end user, the North America air conditioners market is segmented into residential end users, commercial end users, and industrial end users. In 2024, the residential end users segment is expected to account for the largest share of the North America air conditioners market. The large market share of this segment is mainly attributed to the growing acceptance of smart home technologies, construction companies’ increased focus on offering air-conditioned apartments, and the rising need to improve indoor air quality. Moreover, the residential end users segment is also projected to register the highest CAGR during the forecast period.
Based on geography, the North America air conditioners market is segmented into Indonesia, Thailand, Malaysia, Singapore, Vietnam, and the Rest of North America. In 2024, Indonesia is expected to account for the largest share of the North America air conditioners market. The growing demand for air conditioners among the country’s middle-income population, independent households, the public and hospitality sectors, and the increasing production of air conditioners in the U.S. contribute to the country’s large market share. Further, the growing demand for air conditioners from residential and commercial users, better consumer awareness about air conditioners in the U.S., and growing emphasis by leading U.S.-based players to launch air conditioning products are driving the growth of the air conditioners market in the U.S. Moreover, the market in the U.S is projected to register the highest CAGR during the forecast period.
Key Players:
Some of the key players operating in the North America air conditioners market are Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited (Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric Appliances Inc. (China), and Midea Group Co. Ltd (China).
Scope of the Report:
North America Air Conditioners Market Assessment, by Type
- Split ACs
- Window ACs
- Centralized/Ducted ACs
- VRF (Variable Refrigerant Flow) Systems
- Portable ACs
North America Air Conditioners Market Assessment, by Tonnage
- Up to 2 Tons
- 2 Tons to 5 Tons
- 5 Tons to 10 Tons
- More than 10 Tons
North America Air Conditioners Market Assessment, by Technology
- Inverter ACs
- Non-inverter ACs
North America Air Conditioners Market Assessment, by Rating
- 1 Star ACs
- 2 Star ACs
- 3 Star ACs
- 4 Star ACs
- 5 Star ACs
North America Air Conditioners Market Assessment, by Geography
- U.S.
- Canada
Key Questions Answered in the Report:
The North America air conditioners market is projected to reach $55.5 billion by 2030, at a CAGR of 4.5% during the forecast period.
The growth of the North America air conditioners market is driven by soaring temperatures & humidity levels, consumers’ growing inclination toward convenience & comfort, and the rising demand for energy-efficient air conditioners.
Some of the key players operating in the North America air conditioners market are Daikin Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi-Johnson Controls Air Conditioning (Japan), Carrier Global Corporation (U.S.), Whirlpool Corporation (U.S.), Haier Smart Home Co. Ltd. (China), LG Electronics (South Korea), Panasonic Corporation (Japan), Robert Bosch GmbH (Germany), Samsung Electronics Co., Ltd. (South Korea), Fujitsu Limited (Japan), Blue Star Ltd (India), Toshiba Corporation (Japan), Gree Electric Appliances Inc. (China), and Midea Group Co. Ltd (China).
The split ACs segment is expected to account for the largest share of the North America air conditioners market.
The 2 tons to 5 tons segment is expected to record the highest CAGR during the forecast period.
The inverter ACs segment is expected to register the higher CAGR during the forecast period.
The 5 Star ACs segment is expected to record the highest growth rate during the forecast period.
Based on end user, which segment is expected to grow at the highest CAGR during the forecast period?
The residential end users segment is expected to record the highest CAGR during the forecast period.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders from the Industry
2.3. Market Sizing and Forecasting
2.3.1. Market Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Drivers
4.2.1.1. Soaring Temperature & Humidity Levels
4.2.1.2. Consumers’ Growing Inclination toward Convenience and Comfort
4.2.1.3. Rising Demand for Energy-efficient Air Conditioners
4.2.2. Restraints
4.2.2.1. High Costs of Air Conditioners
4.2.3. Opportunities
4.2.3.1. Rising Adoption of Air Conditioners with Inverter and Air Purification Technologies
4.2.3.2. Technological Advancements in HVAC Systems
4.2.4. Challenges
4.2.4.1. Air Conditioners’ High Energy Consumption
4.3. Market Trends
4.3.1. Connected Air Conditioners
4.3.2. Solar Photovoltaic (PV) & Solar Thermal-assisted Air Conditioning Systems
4.4. Case Studies
4.5. Value Chain Analysis
4.6. Consumer Buying Behavior Analysis
5. North America Air Conditioners Market Assessment—by Type
5.1. Overview
5.2. Window ACs
5.3. Split ACs
5.4. VRF (Variable Refrigerant Flow) Systems
5.5. Centralized/Ducted ACs
5.6. Portable ACs
6. North America Air Conditioners Market Assessment—by Tonnage
6.1. Overview
6.2. Up to 2 Tons
6.3. 2 Tons to 5 Tons
6.4. 5 Tons to 10 Tons
6.5. More than 10 Tons
7. North America Air Conditioners Market Assessment—by Technology
7.1. Overview
7.2. Inverter ACs
7.3. Non-inverter ACs
8. North America Air Conditioners Market Assessment—by Rating
8.1. Overview
8.2. 1 Star ACs
8.3. 2 Star ACs
8.4. 3 Star ACs
8.5. 4 Star ACs
8.6. 5 Star ACs
9. North America Air Conditioners Market Assessment—by End User
9.1. Overview
9.2. Residential End Users
9.3. Commercial End Users
9.4. Industrial End Users
10. North America Air Conditioners Market Assessment—by Geography
10.1. U.S.
10.2. Canada
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.3.1. Industry Leaders
11.3.2. Market Differentiators
11.3.3. Vanguards
11.3.4. Emerging Companies
11.4. Vendor Market Positioning
11.5. Market Share Analysis
12. Company Profiles (Company Overview, Financial Overview, Product Portfolio, Strategic Developments)
12.1. Daikin Industries, Ltd.
12.2. Mitsubishi Electric Corporation
12.3. Hitachi-Johnson Controls Air Conditioning
12.4. Whirlpool Corporation
12.5. Haier Smart Home Co., Ltd.
12.6. LG Electronics
12.7. Blue Star Ltd
12.8. Toshiba Corporation
12.9. Panasonic Corporation
12.10. Robert Bosch GmbH
12.11. Fujitsu Limited
12.12. Samsung Electronics Co., Ltd.
12.13. Gree Electric Appliances Inc.
12.14. Midea Group Co. Ltd
(Note: SWOT Analyses of the Top 5 Companies Will be Provided)
13. Appendix
13.1. Available Customization
13.2. Related Reports
List of Tables
Table 1 Currency Conversion Rates, 2019-2022
Table 2 North America Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 3 North America Air Conditioners Market for Split ACs, by Country, 2021–2030 (USD Million)
Table 4 North America Air Conditioners Market for Window ACs, by Country, 2021–2030 (USD Million)
Table 5 North America Air Conditioners Market for Centralized/Ducted ACs, by Country, 2021–2030 (USD Million)
Table 6 North America Air Conditioners Market for VRF (Variable Refrigerant Flow) Systems, by Country, 2021–2030 (USD Million)
Table 7 North America Air Conditioners Market for Other Air Conditioner Types, by Country, 2021–2030 (USD Million)
Table 8 North America Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 9 North America Up to 2 Ton Air Conditioners Market, by Country, 2021–2030 (USD Million)
Table 10 North America 2 Ton to 5 Ton Air Conditioners Market, by Country, 2021–2030 (USD Million)
Table 11 North America 5 Ton to 10 Ton Air Conditioners Market, by Country, 2021–2030 (USD Million)
Table 12 North America More than 10 Ton Air Conditioners Market, by Country, 2021–2030 (USD Million)
Table 13 North America Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 14 North America Air Conditioners Market for Inverter ACs, by Country, 2021–2030 (USD Million)
Table 15 North America Air Conditioners Market for Non-inverter ACs, by Country, 2021–2030 (USD Million)
Table 16 North America Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 17 North America Air Conditioners Market for 1 Star ACs, by Country, 2021–2030 (USD Million)
Table 18 North America Air Conditioners Market for 2 Star ACs, by Country, 2021–2030 (USD Million)
Table 19 North America Air Conditioners Market for 3 Star ACs, by Country, 2021–2030 (USD Million)
Table 20 North America Air Conditioners Market for 4 Star ACs, by Country, 2021–2030 (USD Million)
Table 21 North America Air Conditioners Market for 5 Star ACs, by Country, 2021–2030 (USD Million)
Table 22 North America Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 23 North America Air Conditioners Market for Residential End Users, by Country, 2021–2030 (USD Million)
Table 24 North America Air Conditioners Market for Commercial End Users, by Country, 2021–2030 (USD Million)
Table 25 North America Air Conditioners Market for Industrial End Users, by Country, 2021–2030 (USD Million)
Table 26 North America Air Conditioners Market, by Country, 2021–2030 (USD Million)
Table 27 North America: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 28 North America: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 29 North America: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 30 North America: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 31 North America: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 32 U.S.: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 33 U.S.: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 34 U.S.: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 35 U.S.: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 36 U.S.: Air Conditioners Market, by End User, 2021–2030 (USD Million)
Table 37 Canada: Air Conditioners Market, by Type, 2021–2030 (USD Million)
Table 38 Canada: Air Conditioners Market, by Tonnage, 2021–2030 (USD Million)
Table 39 Canada: Air Conditioners Market, by Technology, 2021–2030 (USD Million)
Table 40 Canada: Air Conditioners Market, by Rating, 2021–2030 (USD Million)
Table 41 Canada: Air Conditioners Market, by End User, 2021–2030 (USD Million)
List of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 Key Insights
Figure 8 North America Air Conditioners Market, by Type, 2024 Vs. 2030 (USD Million)
Figure 9 North America Air Conditioners Market, by Tonnage, 2024 Vs. 2030 (USD Million)
Figure 10 North America Air Conditioners Market, by Technology, 2024 Vs. 2030 (USD Million)
Figure 11 North America Air Conditioners Market, by Rating, 2024 Vs. 2030 (USD Million)
Figure 12 North America Air Conditioners Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 13 Impact Analysis of Market Drivers, Restraints, Opportunities, and Challenges
Figure 14 Consumer Buying Behavior Analysis
Figure 15 North America Air Conditioners Market, by Type, 2024 Vs. 2030 (USD Million)
Figure 16 North America Air Conditioners Market, by Tonnage, 2024 Vs. 2030 (USD Million)
Figure 17 North America Air Conditioners Market, by Technology, 2024 Vs. 2030 (USD Million)
Figure 18 North America Air Conditioners Market, by Rating, 2024 Vs. 2030 (USD Million)
Figure 19 North America Air Conditioners Market, by End User, 2024 Vs. 2030 (USD Million)
Figure 20 North America Air Conditioners Market, by Country, 2024 Vs. 2030 (USD Million)
Figure 21 Growth Strategies Adopted by Leading Market Players (2020–2024)
Figure 22 Competitive Dashboard: Air Conditioners Market
Figure 23 Vendor Market Positioning Analysis (2020–2024)
Figure 24 Market Share Analysis: Air Conditioners Industry
Figure 25 Daikin Industries, Ltd.: Financial Overview
Figure 26 Mitsubishi Electric Corporation: Financial Overview
Figure 27 Johnson Controls International plc: Financial Overview
Figure 28 Whirlpool Corporation: Financial Overview
Figure 29 Haier Smart Home Co. Ltd.: Financial Overview
Figure 30 LG Electronics: Financial Overview
Figure 31 Panasonic Corporation: Financial Overview
Figure 32 Robert Bosch GmbH: Financial Overview
Figure 33 Samsung Electronics Co., Ltd.: Financial Overview
Figure 34 Fujitsu Limited: Financial Overview
Figure 35 Blue Star Ltd.: Financial Overview
Figure 36 Toshiba Corporation: Financial Overview
Figure 37 Gree Electric Appliances Inc.: Financial Overview
Figure 38 Midea Group Co. Ltd: Financial Overview
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