Market Scope and Structure Analysis
The packaged air conditioner is the bigger version of window air conditioners. It consists of an interlocking circuit with an evaporator fan motor to ensure that the compressor only starts when the fan is running. The packaged air conditioner has capacities ranging from 3 tons to 15 tons.
COVID-19 Impact Analysis
- The COVID-19 pandemic has shut-down and limited supply chains in countries around the world and affects the growth of the packaged air conditioners industry. This has hampered the packaged air conditioners market growth in the recent months and is expected to persist during 2021.
- COVID-19 has already impacted the packaged air conditioners revenue in the first quarter of 2021 and is expected to severely hamper the market growth throughout the year.
- The significant demand for packaged air conditioners was observed earlier from the huge manufacturing countries such as the U.S., Germany, Italy, UK, and China, which have been affected severely by the spread of the coronavirus, resulting in a decline in the demand.
- Furthermore, the potential impact of the lockdown is now unknown and companies financial recovery is entirely dependent on their cash reserves. For example, a number of market players have ceased their production activities for several weeks to reduce the expenses. Whereas few players have laid off employee to survive during the COVID-19 health crisis.
- During the COVID19 recession, packaged air conditioners companies are focusing on developing innovative technologies for cost-efficient and speedy solutions to meet the client demands
Top Impacting Factors
Packaged air conditioner market has observed an increase in demand with the rise in temperatures caused by global warming. Furthermore, growth in the construction sector in regions such as the Middle East and the Americas is expected to be one of the driving factors for the market growth. In addition, the rise in industrialization and increase in number of commercial buildings in various parts of the world drive the market growth. Many industry leaders such as Carrier, Johnson, and Daikin are significantly contributing toward the market growth. Growing R32 refrigerant usage in air conditioners, which is efficient and can reduce electricity consumption is anticipated to present a lucrative market opportunity. In addition to the high cost and installation limit the market growth.
Market Trends
- Leading market players have announced the launch of new products with enhanced capabilities., Panasonic for example, introduced the HU series ACs with nanoeX technology in January 2021, which releases hydroxyl radicals found in water capable of inhibiting bacteria and viruses including 99.99% of adhered novel coronavirus.
- Similarly, competitors in the packaged air conditioner market adopted acquisition as a key development strategy to increase their geographical footprint and upgrade their product technologies. For instance, in June 2017, Daikin Industries Ltd. has acquired Airmaster Corporation Pty. Ltd., a leading company in the Australian air conditioner market to expand its reach in the Australian market.
Key Benefits of the Report
- This study presents the analytical depiction of the packaged air conditioners along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of packaged air conditioners market share.
- The current market is quantitatively analyzed to packaged air conditioners market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis of packaged air conditioners market based on competitive intensity and the competition that will take shape in coming years.
Packaged Air Conditioner Market Report Highlights
| Aspects | Details |
 By Condenser Type |
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| By Split Type |
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 By End User Industry |
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 By Region |
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 Key Market Players | Hitachi, Panasonic, Trane, Carrier, Daikin, Voltas, Fujistu, Mitsubishi Electric, Samsung, LG Electronics |
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