Agricultural Air Conditioner Market Size, Share, Growth, and Industry Analysis by Type (Compact and Integrated) By Application (Farm Buildings, Greenhouse, and Other) Regional Forecast (2022-2027)

REPORT OVERVIEW

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The global agricultural air conditioner market size was USD 639.8 million in 2020. The global COVID-19 pandemic has been unprecedented and staggering, with agricultural air conditioners experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 1207.6 million in 2027, exhibiting a CAGR of 9.5% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Agriculture air conditioning keeps livestock and sheds cool for pennies a day, serving spaces, cowsheds, stalls, and production facilities cool for a fraction of the cost of traditional cooling. In an indoor farm, an agricultural air conditioner system helps maintain the proper airflow proportion, the required temperature and humidity level. Therefore, air conditioning systems aid in the maintenance of appropriate temperature, carbon dioxide, and humidity in an indoor farm, all of which are critical for the growth of vegetables and plants.

During the projected period, the market is expected to expand due to rising demand for machines to reduce carbon dioxide emissions and conserve the environment. The major players are working on more efficient and environmentally friendly air conditioning systems. It would help to reduce the compressor's power usage by 25% when compared to traditional air conditioning systems, resulting in fuel savings. Growing client expectations for better refrigeration is one of the primary issues.

"COVID-19 Impact: Supply Chain Disruption to Impede Market Growth "

The COVID-19 epidemic had an impact on business all across the world. COVID-19 spread disrupted the agricultural air conditioner market demand and supply chain. China is a big importer and producer of air conditioners, but it also caters to a diverse range of countries by disseminating various raw supplies that are mostly used to manufacture finished items. Across industry verticals, there were differences in industrial, service facility, and source. While some industries saw new and unanticipated prospects for expansion and increased energy due to the pandemic, others were left desolate by the pandemic's perplexing societal conditions.

LATEST TRENDS

Increasing Adoption of Container Farming to Foster Market Growth

Container farming is a growing trend that involves using insulated shipping containers for climate-controlled agricultural. These insulated containers are specifically designed to hold a variety of fruits and vegetables. They're equipped with environmental control systems that allow them to grow a diverse range of fruits, vegetables, and flowers in a variety of environments and temperatures. Container farming allows for the harvesting of vegetables and fruits close to demand centers. This innovation is anticipated to have a positive impact on agricultural air conditioner market growth overall.

Segmentation

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• By Type Analysis

By type, the market is segmented into Compact and Integrated.

• By Application Analysis

Based on applications, the market is classified into Farm Buildings, Greenhouse, and Others.

DRIVING FACTORS

"Increasing Adoption of Automation to Foster Market Growth"

The demand for autonomous air conditioners is expected to grow in the future years as the agriculture sector continues to modernize and automate. Autonomous goods save time and rate in the elastic process when compared to typical agricultural air cooling. For agricultural approaches, the improved products are a desired option. As technology advances, manufacturers are committed to developing new and sophisticated autonomous products. Producers have been pushed to promote new products in the market due to the expanding potential of such products. In the future years, agricultural air conditioner market growth is expected to be boosted by increased demand for sustainable farming combined with resourceful management.

"Technological Developments to Boost Market Growth"

Due to the rising temperatures and humidity levels around the world, the market is likely to boom. People are beginning to consider air conditioners as utilitarian made goods, rather than a luxury item. Furthermore, the advancement of technologically advanced items such as air purification technologies and inverters are expected to boost market demand. According to research conducted by the United Nations Environment Program (UNEP) and the International Energy Agency (IEA), rigorous commitments to improve the efficiency of air conditioning systems might reduce carbon dioxide emissions by 210 to 460 billion metric tons by 2060. Nations could achieve the transformation by reducing climate-warming refrigerants such as hydrofluorocarbons (HFCs), potentially avoiding up to 0.4 degrees Celsius of global warming.

RESTRAINING FACTORS

"High Installation Costs to Impede Market Progress"

The agriculture sector is fragmented, with a large number of minor businesses. It is not controlled by a single operator or a few large firms. Because of the industry's fragmentation, implementing a uniform machine-to-machine (M2M) solution is difficult. Land division results in an inequitable allocation of inputs and funds, resulting in high prices. Because administering, overseeing, and collecting data from scattered areas is challenging, using smart agricultural technologies in fragmented lands wastes time, money, and resources.

REGIONAL INSIGHTS

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"Infrastructural Development to Propel Market Progress in Asia Pacific"

Asia Pacific is projected to dominate the agricultural air conditioner market share. This is attributable to the region's rapid infrastructure development and people's increased desire for lifestyle products. China is the world's largest market for air conditioning systems. Other important air conditioning markets for global air conditioning manufacturers are Japan and India.

North America to have sizable market share. This is owing to an increase in the use of modern farming methods. Over the last few decades, the United States has been at the forefront of air conditioner demand.

KEY INDUSTRY PLAYERS

Key Players Focus on Partnership to Strengthen their Market Position

The competitive landscape study includes financial analysis, revenue breakdown by segment and location, risk analysis, critical facts, company description, corporate strategy, main product offerings, marketing and distribution strategies, new product development, and recent news, among other things.

INDUSTRY DEVELOPMENT

• January 2021: Panasonic plans to expand its air conditioning business in the next three years in order to fund local production in India. On the back of pent-up demand, the company, which recently unveiled the HU series of ACs with nanoeX technology, is seeing a 35 percent increase in sales this year. NanoeX technology, according to the business, releases hydroxyl radicals trapped in water, commonly known as "nature's detergent," which are capable of inhibiting bacteria and viruses, including 99.99 percent of coronavirus pandemics.

List of Market Players Profiled

• Munters (Sweden)
• Ingersoll Rand (Ireland)
• Acme Engineering (U.S.)
• SCHULZ Systemtechnik (Germany)
• SKIOLD (Denmark)
• Pinnacle Climate Technologies (U.S.)
• Data AIRE (U.S.)
• Johnson Heater Corporation (U.S.)
• Dantherm (Denmark)
• American Coolair (U.S.)
• MET MANN (Spain)
• CoolSeed (Brazil)

REPORT COVERAGE

The report covers topics such as market analysis, market share, market sizing, and market segmentation. These market research reports offer insight into the numerous industry opportunities and risks, the important trends that will impact market growth during the forecast period. It includes information on the shifting competitive landscape and extensive vendor profile and market analysis.