The global marine air conditioning system market size is anticipated to register a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the prospects and prominent strategies implicated by several key players in the industry.
Marine air conditioning system pulls heat from air and transfers it in cabin to refrigerant gas and then transfers the heat from the refrigerant gas to the sea water. This air conditioner system can pull the heat from the sea water and transfer the heat to the cabin. This process is called reverse cycle air conditioning.
Marine air conditioning system works uses water rather than air for cooling. The abundance of water and lack of space makes water a preferable option. Air conditioning systems not only cool the boat, but reduce humidity and keeps dryness which is more comfortable and less corrosive. Two types of marine air conditioning systems are available in market. The first one is refrigerant air conditioners that produce dry cool air, using the principle of evaporating and condensing a refrigerant. While the second one is evaporative air conditioners that generate cool air by evaporative cooling principle.
The design of the marine air conditioning systems is taken into consideration before selling out to the clients. Proper evaluation of unit to maximize capacity in the boat, minimizing the power consumption, and to accomplish high level of efficiency are some of the design parameters that are taken into consideration while producing marine air conditioning systems.
Market Trends, Drivers, Restraints, and Opportunities
- Development in marine air conditioning systems market is largely supported by increasing demand for products and services in this industry.
- Increasing revenue in the marine air conditioning systems is projected to boost the market during the forecast period.
- Strategies such as mergers, acquisitions, and alliances adopted by the major players are anticipated to spur the market during forecast period.
- Safety issues and unauthorized use of marine air conditioning system act as major factor hampering the market growth.
- Covid19 pandemic has transformed the market landscape expected to restrain the market growth.
- R&D investment and technological advancements in marine air conditioning are expected to create immense opportunities for the market palyers.
Global Marine Air Conditioning Systems Market Segment Insights:
Evaporative air conditioners segment to account a significant market share
Based on types, the global marine air conditioning systems market is segmented into refrigerant air conditioners and evaporative air conditioners. The evaporative air conditioners segment is anticipated to represent a substantial market share during the forecast period owing to simpler, cheaper, and less complicated installation.
Commercial ships segment to dominate the market
On the basis of applications, the global marine air conditioning systems market is bifurcated into leisure ships and commercial ships. The commercial ships segment is anticipated to hold major position in the global marine air conditioning systems market. The commercial ships segment is estimated to expand at a robust CAGR during the forecast period. Rising adult participation in recreational boating activities is driving the segment growth.
North America to hold a large market share
In terms of regions, the global marine air conditioning systems market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America region is expected to dominate the market owing to early adoption of latest HVAC technology and presence of major industry players.
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