Dublin, March 01, 2022 (GLOBE NEWSWIRE) -- The "Global Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioning Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global ductless heating & cooling systems market is estimated to be USD 98.4 billion in 2021 and is projected to reach USD 145 billion by 2026; it is expected to grow at a CAGR of 8.1% from 2021 to 2026.
According to the Consumer Technology Association (CTA), the number of smart homes in the US is expected to reach ~35.2 million units by 2020. The growth in smart homes is expected to create demand for ductless systems. An HVAC system is used in smart homes for controlling air temperature, humidity, and fresh air intake. It helps maintain better airflow and comfortable temperatures in every room. In a smart home, one can monitor the system performance and respond to system-generated alarms from local or remote locations.
New energy-efficient ductless systems are replacing the traditional HVAC systems. Upcoming technologies such as ice-powered AC, motion-activated air conditioning systems, and smart vents are integrated into modern ductless systems to increase energy efficiency, reduce energy costs, and lower carbon emissions.
Residential: Largest application of ductless heating & cooling systems market
The residential application segment is expected to hold the largest market share during the forecast period. The growth is attributed to the increasing adoption of ductless heating & cooling systems in residential buildings, growing demand for energy-efficient devices, and rising awareness regarding energy conservation in developing regions such as APAC and RoW. Moreover, increasing investments by governments for the construction of residential spaces are also expected to propel the growth of the ductless heating & cooling systems market for residential application.
APAC is the fastest-growing market for ductless heating & cooling systems
APAC is projected to be the fastest-growing ductless heating & cooling systems market. The growth of the APAC ductless heating & cooling systems market can be attributed to the growing investment in building & construction in the region. Additionally, Ductless heating & cooling systems manufacturers are targeting this region, as it is the strongest regional market. China is the leading producer and consumer of ductless heating & cooling systems in the region. Other major markets in the region are emerging economies such as Japan, India, and Thailand.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Ductless Heating & Cooling Systems Market
4.2 Ductless Heating & Cooling Systems Market, by Type and Country, 2020
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Trend of Smart Homes
5.2.1.2 Significant Growth in the Number of Data Centers
5.2.1.3 Increase in Residential Construction
5.2.1.4 Lower Operating Cost of Ductless Heating & Cooling Systems
5.2.1.5 Growing Demand for Energy-Efficient Devices
5.2.2 Restraints
5.2.2.1 Rising Environmental Concerns
5.2.2.2 Higher Initial Cost of Ductless System Installation
5.2.2.3 Economic Slowdown and Impact of COVID-19 on the Manufacturing Sector
5.2.3 Opportunities
5.2.3.1 Rapid Transformation of IoT in HVAC Systems
5.2.3.2 High Penetration of VRF Systems in Residential and Commercial Applications
5.2.4 Challenges
5.2.4.1 Lack of Awareness About the Benefits of Ductless Heating & Cooling Systems
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Threat of New Entrants
5.3.3 Threat of Substitutes
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Value Chain Analysis
5.5 Ecosystem Market Map
5.6 Trade Analysis
5.7 Pricing Analysis
5.8 Macroeconomic Indicators
5.9 Tariff Policies & Regulations
5.10 COVID-19 Impact on Ductless Heating & Cooling Systems Market
5.11 Trends/Disruptions Impacting Customers' Business
5.12 Case Study
5.13 Technology Analysis
5.14 Patent Analysis
6 Ductless Heating & Cooling Systems Market, by Type
6.1 Introduction
6.2 Split Systems
6.2.1 Greater Energy Efficiency and Low Noise Level Feature of Split Systems to Drive the Market
6.2.2 Mini Split Systems
6.2.2.1 Compact Design and Flexible Zoning of Mini Split Systems to Drive the Market
6.2.3 Multi Split Systems
6.2.3.1 Expanding Real Estate Market and Rebounding Construction Market to Drive Demand for Multi Split Systems
6.2.4 Variable Refrigerant Flow (VRF)
6.2.4.1 Simultaneous Heating & Cooling, Precise Temperature Control, and High Efficiency Driving Demand for VRF Systems
6.3 Window Air Conditioning Systems
6.3.1 Stagnant Growth due to No Further Innovation, Low Demand, and Increasing Trend of High-Rise Buildings
7 Ductless Heating & Cooling Systems Market, by Application
7.1 Introduction
7.2 Residential Buildings
7.2.1 Government Regulations and Tax Credit Programs to Promote the Use of HVAC Systems in Residential Applications
7.3 Commercial Buildings
7.3.1 Growing Adoption of Energy-Efficient Equipment to Boost the Ductless Heating & Cooling Systems Market for Commercial Spaces
7.4 Industrial Buildings
7.4.1 Growing Use of Energy-Efficient Ductless Systems in Industrial Spaces to Reduce Operational Cost and Save Energy
8 Ductless Heating & Cooling Systems Market, by Region
9 Competitive Landscape
9.1 Overview
9.2 Market Share Analysis
9.3 Revenue Analysis of Leading Players (2016-2020)
9.4 Market Evaluation Framework
9.5 Company Evaluation Matrix
9.5.1 Star
9.5.2 Emerging Leader
9.5.3 Pervasive
9.5.4 Participant
9.6 Startups and Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix
9.6.1 Responsive Companies
9.6.2 Dynamic Companies
9.6.3 Starting Blocks
9.7 Company Footprint
9.8 Competitive Situations and Trends
9.8.1 Product Launches
9.8.2 Deals
10 Company Profiles
10.1 Major Players
10.1.1 Samsung Electronics Co. Ltd.
10.1.2 Hitachi Ltd.
10.1.3 LG Electronics
10.1.4 Mitsubishi Electric Corporation
10.1.5 Daikin Industries Ltd.
10.1.6 Trane Technologies
10.1.7 Johnson Controls
10.1.8 Carrier Global Corporation
10.1.9 Lennox International Inc.
10.1.10 Nortek
10.1.11 Whirlpool Corporation
10.1.12 Watsco Inc.
10.1.13 Parker Davis HVAC International Inc.
10.1.14 Rheem Manufacturing Company Inc.
10.1.15 Gree Electric Appliances Inc.
10.1.16 Voltas Ltd.
10.1.17 Blue Star Ltd.
10.2 Other Players
10.2.1 Haier Electronics Group Co. Ltd.
10.2.2 Sharp Corporation
10.2.3 Midea Group Co. Ltd.
10.2.4 IFB Industries Ltd.
10.2.5 Panasonic Corporation
10.2.6 Guangdong Chigo Air Conditioning Co. Ltd.
10.2.7 Godrej & Boyce Mfg. Co. Ltd.
10.2.8 Onida
10.2.9 AUX Group Co. Ltd.
10.2.10 Fujitsu General Ltd.
11 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/tbp8q
Attachment
