Rise of smart home technology adoption, increasing demand for sustainable energy are pushing the air conditioner industry to innovate and present new options in the market for consumers. Growing need for automation and connectivity have led to the emergence of air conditioners that can be connected to other smart appliances in your home and adjusts temperature automatically based on one’s customized settings, preferences, and climatic conditions. The new solutions are designed to cut costs, improve client satisfaction, enhance efficiency, and boost home comfort levels. In 2020, light commercial air conditioners accounted for 75.49% of the global air conditioners market, owing to rising construction of green buildings and growing data centres comprising of highly sensitive electronic components. Increased spending by government and private players on infrastructure and expansion of commercial buildings are expected to fuel the global air conditioners market growth in the coming years. Enhanced focus of key players on developing cleaner, greener, and eco-friendly refrigerants and increasing government regulations on reducing carbon emissions are expected to propel the global air conditioners market.
Here are the key innovations shaping the global air conditioners market.
Motion-Activated Air Conditioning
Movement-activated air conditioners are rapidly gaining popularity in green buildings where it is crucial to reduce energy consumption. The technology detect motion through sensors that send signals to AC to cool a specific area when someone walks into room and turn off the air conditioning when no one is moving around, which saves considerable amount on home’s energy usage. The motion-activate air conditioners also lead to less wear and tear since it does not run frequently and function only for limited periods of time. Some smart air conditioner allows one to integrate their smartphone and use phone’s GPS system to alert the system, which starts cooling the room so that the person feels comfortable as soon as they reach home.
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Ice Powered Air Conditioner
Ice powered air conditioner is a ground-breaking innovation in the HVAC system introduced by a California based company, Ice Energy. The ice-powered air conditioning system is designed to cool a building for up to 6 hours utilizing frozen water or ice. The air conditioner comes with a tank where water is frozen to ice overnight so that the block of ice can cool a building the following day. The ice-powered air conditioning uses a thermal battery that makes cooling home more energy-efficient and cost-effective. Since the technology is quite new, it is not yet widely available but is likely to become more popular in the years to come.
Thermally Driven Air Conditioners
Pioneered by Australia-based company, Chromasun, the thermally driven air conditioner is a low-cost alternative to a conventional air conditioning system that use highly efficient electrically driven compressors to produce refrigeration. The thermally driven air conditioning systems use double chillers fired by solar energy or natural gas. Solar driven double effect chillers provide more cooling than PV systems and are designed to last longer. The MCT panels designed by Chromasun allow significant offsets in gas consumption and better environmental performance. According to TechSci Research report on “Global Air Conditioners Market By Product Type (Chillers, VRFs, Ductable Splits, Light Commercial Air Conditioners and Others), By Light Commercial Air Conditioners (High Wall Splits, Window Air Conditioners, Cassettes and Concealed Ductable Splits), By Region, Competition, Forecast Opportunities, 2027”, the global air conditioner market is expected to grow at a significant CAGR of around 4.42% by 2027. The market growth can be attributed to the booming construction market, energy regulations, and increasing technological advancements.
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