June 2, 2014: North America Air Conditioning Market to Reach $52.56 Billion by 2020
Technological Advancement Has Bolstered Product Development and Innovation
SAN FRANCISCO — The North America air conditioning systems market is forecast to reach $52.56 billion by 2020, according to a new study by Grand View Research Inc. Increasing construction spending is expected to drive the market across the residential, commercial, and industrial sectors. In addition, regulatory initiatives for energy efficiency are also expected to fuel market growth over the next six years.
Technological advancement has bolstered product development and innovation, says Grand View Research. A high degree of competition from other regional markets, coupled with lower prices of products offered by Chinese manufacturers may hinder the industry in North America over the forecast period.