Canada Air Conditioner (AC) Market Outlook (2023-2029) | Share, Companies, Revenue, Growth, Analysis, Trends, Industry, COVID-19 IMPACT, Value, Size & Forecast

Topics Covered in the Canada Air Conditioner (AC) Market Report

Canada Air Conditioner (AC) Market report thoroughly covers the market by type and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Canada Air Conditioner (AC) Market Synopsis

Canada Air Conditioner (AC) Market is anticipated to grow on the account of its major use in maintaining comfortable indoor temperatures, especially during the country's hot summers. The market encompasses a wide range of AC products, including split systems, window units, central air conditioning, and ductless mini-splits. Energy efficiency and environmental considerations play a crucial role in shaping the market, with a focus on eco-friendly refrigerants and energy-saving technologies. The adoption of smart and connected AC systems is also on the rise, allowing users to control and monitor their cooling systems remotely. The Canada AC market is characterized by a balance between meeting the demand for energy-efficient cooling and providing effective cooling solutions for various applications, including residential, commercial, and industrial. As climate change continues to affect temperature patterns, the demand for efficient and environmentally friendly air conditioning solutions is expected to grow in Canada.

According to 6Wresearch, the Canada Air Conditioner (AC) Market size is projected to grow during the forecast period of 2023-2029. The increasing population and rising temperatures due to global warming are the primary drivers for the growth of the Canadian AC market. According to the Canadian Census, the population of the country is expected to grow to 49.1 million by 2050, which will increase the demand for air conditioning in residential and commercial areas. Moreover, due to global warming, Canada has experienced significantly warmer summers in recent years. Consequently, air conditioning has become an essential requirement in various industries, such as hospitality, healthcare, and retail. Despite the market's growth potential, the Canada Air Conditioner (AC) Industry still faces several challenges. The high installation and maintenance costs of AC units are a significant challenge for consumers as they look for energy-efficient appliances. Canada's harsh climate and environmental concerns make it challenging for the AC industry to meet energy efficiency standards. Additionally, environmental concerns also include refrigerants' impact, the chemicals used in air conditioning units that emit greenhouse gases when disposed of improperly, potentially causing harm to the environment.

Government policies and schemes introduced in the Canada Air Conditioner (AC) Market

The Canadian government has launched several initiatives to promote energy-efficient appliances, which reduce energy consumption and greenhouse gas emissions. The Energy Efficiency Regulations (EER) and the US Federal Energy Management Program (FEMP) are some of the regulations that set specific energy efficiency standards for various appliances, including air conditioning units. Additionally, the Ecosystem-Based Management of Energy (EBME) program and the Energy Retrofit Program (ERP) offer incentives to homes and businesses upgrading to energy-efficient units.

The impact of COVID-19 on the Canada Air Conditioner (AC) Market

The COVID-19 pandemic has had a significant impact on the AC market in Canada. The pandemic's outbreak has led to a decline in demand for AC units in commercial spaces such as offices, shopping malls, and movie theaters due to the government's restrictions on public gatherings. Additionally, the economic recession caused by the pandemic has pushed many consumers to delay their home renovation plans and, thus, upgrading their AC units leading to reduction in Canada Air Conditioner (AC) Market  Share.  However, the pandemic's long-term impact is expected to be positive on the AC market in the coming years, as consumers' concerns about indoor air quality have increased, resulting in the demand for air purifiers and air conditioning units with air filtration systems to reduce the risk of infection.

Leading players in the Canada Air Conditioner (AC) Market

The Canadian AC market's key players are multinational companies, such as Carrier Corporation, Trane, and Mitsubishi Electric Corporation. Carrier Corporation holds the highest market share, followed by Trane and Mitsubishi Electric. Other significant players in the market include LG Electronics, Samsung Electronics, Haier Inc., Daikin Industries, and Lennox International and these companies are playing a major role in Canada Air Conditioner (AC) Market Growth.

Market Analysis By Types

Air Conditioner (AC) Market in Canada is segmented based on types including Room Air Conditioner, Ducted Air Conditioner, Ductless Air Conditioner, and Centralized Air Conditioner. Ductless air conditioners are expected to lead the growth due to their flexibility and energy efficiency. They are highly preferred in small-sized houses or apartments as they can be installed easily and do not require ductwork.

Market Analysis By Application

According to Shivankar, Research Manager, 6Wresearch, Canada AC market is a segmented application-wise including Residential, Commercial & Retail, Healthcare, Hospitality, Transportation & Infrastructure, and Others. The Residential sector dominates the market with the rising trend of luxury residential construction, resulting in the installation of air conditioners in their homes.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Canada Air Conditioner Market Outlook
• Market Size of Canada Air Conditioner Market, 2022
• Forecast of Canada Air Conditioner Market, 2029
• Historical Data and Forecast of Canada Air Conditioner Revenues & Volume for the Period 2019 - 2029
• Canada Air Conditioner Market Trend Evolution
• Canada Air Conditioner Market Drivers and Challenges
• Canada Air Conditioner Price Trends
• Canada Air Conditioner Porter's Five Forces
• Canada Air Conditioner Industry Life Cycle
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Room Air Conditioner for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Ducted Air Conditioner for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Ductless Air Conditioner for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Centralized Air Conditioner for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Residential for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Healthcare for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Commercial & Retail for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Transportation & Infrastructure for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Hospitality for the Period 2019 - 2029
• Historical Data and Forecast of Canada Air Conditioner Market Revenues & Volume By Others for the Period 2019 - 2029
• Canada Air Conditioner Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Canada Air Conditioner Top Companies Market Share
• Canada Air Conditioner Competitive Benchmarking By Technical and Operational Parameters
• Canada Air Conditioner Company Profiles
• Canada Air Conditioner Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Types

• Room Air Conditioner
• Ducted Air Conditioner
• Ductless Air Conditioner
• Centralized Air Conditioner

By Application

• Residential
• Commercial & Retail
• Healthcare
• Hospitality
• Transportation & Infrastructure
• Others

Frequently Asked Questions About the Market Study (FAQs):