North American Split Air Conditioning Market to Witness Growth Acceleration by 2025

North American split air conditioning market is forecast to grow at a modest growth rate at a CAGR of 2% during the forecast period. Major factors augmenting the market is the high rate of urbanization, the high adoption rate of AC, and high disposable income. Rise in the demand of commercial split AC market, and inverter AC are also some of the major drivers for the growth of the market in the region. Cohesive government regulations will augment the demand for eco-friendly refrigerant which is providing a significant opportunity to the market. 

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The market is segmented on the basis of application, type, and refrigerant type. By application, the market is segmented into residential, commercial, industrial and others. During the forecast period, residential is expected to have a major market share. By refrigerant type, the market is divided into HCFC, HFC, HFO, and natural refrigerant. HFO and Natural refrigerant will show a significant growth rate during the forecast period in the region. 

On the basis of geography, the market is segmented into the US and Canada. During the forecast period, the US is expected to have a major market share with a significant growth rate. High population base in the region, high per capita expenditure is among the major factor augmenting the market in the region. Cohesive government regulations and environmental protection policies are the major factors driving the Canadian market. These regulations and policies are designed to curb the emission of harmful gases that affect the ozone layer and the environment. The Montreal Protocol on substances that deplete the ozone layer successfully phased out ODS led to a shift towards the HFCs. 

North American SPLIT AIR CONDITIONING Market Segmentation

By Application

·        Residential

·        Commercial

·        Industrial

·        Others (Healthcare)

By Refrigerant Type

·        HCFCs (Hydrochlorofluorocarbons)

·        HFC (Hydrofluorocarbon)

·        HFO (Hydrofluro-Olefins)

·        Natural Refrigerants

Regional Analysis

·        North America

·        United States

·        Canada

Company Profiles

·        Daikin Industries Ltd.

·        Gree Electric Appliances Inc.

·        Johnson Controls International PLC

·        Klimaire Products Inc.

·        LG Electronics Inc.

·        Pioneer International Pty. Ltd.

·        The Whirlpool Corp.

·        Trane Inc.

·        United Technologies Corp.

 

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