The Split AC Market in the US is expected to grow at a CAGR of 7.81 percent during the period 2013-2018.
London, 29 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Split Air Conditioning (AC) Market in the US.
The steady recovery of the construction industry in the country is one major factor for the expansion of the Split AC Market in the US.
ACs are finding increased application in the commercial and domestic sectors. They come in a variety of sizes depending on the cooling requirements. Centralized ACs, which use ducting for both heating and cooling, are gaining popularity. However, the Commercial AC market is also changing because of rising energy costs and increased power consumption. Split ACs have emerged as a better alternative in terms of power consumption and cooling efficiency. They are also cost and energy-efficient with little or no installation costs.
“The Split AC market in the US is experiencing accelerated growth. Increased demand for split ACs from the construction industry is one of the major factors contributing to the growth of the market. The increase in population and the demand for residential and commercial buildings across the US are the other related factors propelling the demand for AC systems,” says Faisal Ghaus, Vice President of TechNavio Research.
Innovative Features in Split ACs
The introduction of innovative characteristics in ACs in both the commercial and non-commercial sectors has also extended the demand for split ACs. The increasing penetration of unducted standard split ACs is driving market growth and more and more competition in the market is leading to the development of a variety of products. Additionally, modifications to government rules and regulations for manufacturing ACs have had a positive impact on the evolution of the market.
To regulate the market scenario in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on The Split AC Market in the US, please send an e-mail to media@TechNavio.com
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