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Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: October 2016
Report Code: CH 4315

 

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The global ductless heating & cooling systems market is projected to be valued at USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021. In this study, 2015 has been considered as the base year and 2016 to 2021, the forecast period, to estimate the global market of ductless heating & cooling systems. The growing demand in the Asia-Pacific, Latin American, and Middle-Eastern & African regions, coupled with the growing demand for energy efficient systems is driving the global ductless heating & cooling systems market during the forecast period.

Objectives of the Study

  • To define and segment the market for ductless heating & cooling systems by type, application, and region
  • To estimate and forecast the market for ductless heating & cooling systems in terms of value
  • To analyze significant region-specific trends of the market in North America, Western Europe, Central & Eastern Europe, the Asia-Pacific region, South America, and the Middle East & Africa
  • To estimate and forecast the market for ductless heating & cooling systems by type, application, and region at the country level in each of the regions
  • To identify and analyze the key drivers, restraints, and opportunities, and challenges influencing the ductless heating & cooling systems market
  • To analyze recent market developments and competitive strategies such as alliances, joint ventures, and mergers & acquisitions to draw the competitive landscape in the market for ductless heating & cooling systems
  • To strategically identify and profile the key market players and analyze their core competencies in each type, and application of the ductless heating & cooling systems market

This research study used extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information useful for this technical, market-oriented, and commercial study of the global ductless heating & cooling systems market. The primary sources are mainly several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industry’s supply chain. The bottom-up approach has been used to estimate the global market size of ductless heating & cooling systems on the basis of type, application, and region, in terms of value. The top-down approach has been implemented to validate the market size, in terms of value. With the data triangulation procedure, and validation of data through primary interviews, the exact values of the overall parent market and individual market sizes have been determined and confirmed in this study.

Ductless Heating & Cooling Systems Market

To know about the assumptions considered for the study, download the pdf brochure

The ductless systems value chain includes raw material manufacturers such as AAON Heating and Cooling Products (U.S.), ABB Ltd. (Switzerland), and Emerson Climate Technologies Incorporated (U.S.) among others, ductless systems manufacturers such as Daikin Industries Ltd. (Japan), United Technologies Corporation (U.S.), Mitsubishi Electric Corporation (Japan), and Hitachi Ltd. (Japan) among others. Further, the products manufactured by these companies are used by residential buildings, commercial buildings, and industrial buildings industries.

“This study answers several questions for the stakeholders, primarily which market segments they need to focus upon in the next two to five years to prioritize their efforts and investments”.

Target Audience:

  • Ductless heating & cooling systems manufacturers
  • Ductless heating & cooling systems traders, distributors, and suppliers
  • End-use market participants of different segments of ductless heating & cooling systems
  • Government and research organizations
  • Associations and industrial bodies
  • Research and consulting firms
  • R&D institutions
  • Environment support agencies
  • Investment banks and private equity firms

Scope of the Report:

This research report categorizes the global market for ductless heating & cooling systems based on type, application, and region and forecasts the revenue growth and provides an analysis of the trends in each of the submarkets.

On the Basis of Type:

  • Split Systems
  • Window Air Conditioner Systems

On the Basis of Application:

  • Residential Buildings
  • Commercial Buildings
  • Industrial Buildings

On the Basis of Region:

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Others

North America

  • U.S.
  • Canada
  • Mexico

Western Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Others

Central & Eastern Europe

  • Russia
  • Turkey
  • Others

South America

  • Brazil
  • Argentina
  • Others

Middle East & Africa

  • UAE
  • Saudi Arabia
  • Nigeria
  • Others

These segments are further described in detail with their subsegments in the report, with value forecasts till 2021.

Available Customizations: The following customization options are available for the report:

  1. Company Information

Analysis and profiles of additional global as well as regional market players (Up to three)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitation
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                     2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                     2.1.2.1 Key Data From Primary Sources
                     2.1.2.2 Key Industry Insights
                     2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
           2.3.1 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in the Ductless Heating & Cooling Systems Market
    4.2 Ductless Heating & Cooling Systems Market Growth, By Type
    4.3 Ductless Heating & Cooling Systems Market Share, By Region and Application, 2015
    4.4 Ductless Heating & Cooling Systems Market Attractiveness
    4.5 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By Application
    5.3 Evolution
    5.4 Market Dynamics
           5.4.1 Drivers
                     5.4.1.1 Short-Term Drivers
                                         5.4.1.1.1 Growing Demand for Energy Efficient Devices
                     5.4.1.2 Mid-Term Drivers
                                         5.4.1.2.1 Infrastructure Development Across Various Economies
                                         5.4.1.2.2 Rising Income of People in the Emerging Countries
                     5.4.1.3 Long-Term Drivers
                                         5.4.1.3.1 Lower Operating Cost of Ductless Heating & Cooling Systems
           5.4.2 Restraints
                     5.4.2.1 Lower Capacity Than Ducted Air Conditioners
                     5.4.2.2 Higher Initial Cost
           5.4.3 Opportunities
                     5.4.3.1 Use of Ecofriendly Refrigerant
                     5.4.3.2 Growing Concern for Indoor Air Quality
           5.4.4 Challenges
                     5.4.4.1 Government Regulations on Refrigerant

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Supply Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Bargaining Power of Suppliers
           6.3.2 Threat of New Entrants
           6.3.3 Threat of Substitutes
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Economic Indicator
           6.4.1 Trends and Forecast of Gdp
           6.4.2 Manufacting Sector and Growth of Manufacturing Sector
    6.5 Patent Analysis
           6.5.1 Introduction
           6.5.2 Patent Analysis of Ductless Heating & Cooling Systems, By Type
           6.5.3 Patent Analysis of Ductless Heating & Cooling Systems, By Application
           6.5.4 Patent Analysis of Ductless Heating & Cooling Systems, By Region

7 Ductless Heating & Cooling Systems Market, By Type (Page No. - 56)
    7.1 Introduction
    7.2 Split Systems
           7.2.1 Mini Split Systems
           7.2.2 Multi Split Systems
           7.2.3 Variable Refrigerant Flow (VRF)
    7.3 Window Air Conditioner Systems

8 Ductless Heating & Cooling Systems Market, By Application (Page No. - 65)
    8.1 Introduction
    8.2 Revenue Pocket Matrix, By Application
    8.3 Residential Buildings
    8.4 Commercial Buildings
    8.5 Industrial Buildings

9 Ductless Heating & Cooling Systems Market, By Region (Page No. - 71)
    9.1 Introduction
    9.2 Asia-Pacific
           9.2.1 China
           9.2.2 India
           9.2.3 Japan
           9.2.4 South Korea
           9.2.5 Indonesia
           9.2.6 Rest of Asia-Pacific
    9.3 North America
           9.3.1 U. S.
           9.3.2 Canada
           9.3.3 Mexico
    9.4 Europe
           9.4.1 Western Europe
                     9.4.1.1 Germany
                     9.4.1.2 U.K.
                     9.4.1.3 France
                     9.4.1.4 Italy
                     9.4.1.5 Rest of Western Europe
           9.4.2 Central & Eastern Europe
                     9.4.2.1 Russia
                     9.4.2.2 Turkey
                     9.4.2.3 Rest of Central & Eastern Europe
    9.5 Middle East and Africa
           9.5.1 Saudi Arabia
           9.5.2 UAE
           9.5.3 Nigeria
           9.5.4 Rest of the Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 109)
     10.1 Overview
     10.2 Market Share Analysis
     10.3 New Product Development: the Most Popular Growth Strategy
     10.4 Competitive Situation and Trends
               10.4.1 New Product Development
               10.4.2 Expansion
               10.4.3 Agreements, Joint Ventures, and Partnerships
               10.4.4 Acquisition

11 Company Profiles (Page No. - 116)
     11.1 Samsung Electronics Co., Ltd.
               11.1.1 Business Overview
               11.1.2 Products Offered
               11.1.3 Recent Developments
               11.1.4 SWOT Analysis
               11.1.5 MnM View
     11.2 Hitachi, Ltd.
               11.2.1 Business Overview
               11.2.2 Products Offered
               11.2.3 Recent Development
               11.2.4 SWOT Analysis
               11.2.5 MnM View
     11.3 United Technologies Corporation
               11.3.1 Business Overview
               11.3.2 Products Offered
               11.3.3 Recent Developments
               11.3.4 SWOT Analysis
               11.3.5 MnM View
     11.4 LG Electronics
               11.4.1 Business Overview
               11.4.2 Products Offered
               11.4.3 Recent Developments
               11.4.4 SWOT Analysis
               11.4.5 MnM View
     11.5 Johnson Controls
               11.5.1 Business Overview
               11.5.2 Products Offered
               11.5.3 Recent Developments
               11.5.4 SWOT Analysis
               11.5.5 MnM View
     11.6 Mitsubishi Electric Corporation
               11.6.1 Business Overview
               11.6.2 Products Offered
               11.6.3 Recent Developments
     11.7 Whirlpool Corporation
               11.7.1 Business Overview
               11.7.2 Products Offered
     11.8 Daikin Industries Ltd.
               11.8.1 Business Overview
               11.8.2 Products Offered
               11.8.3 Recent Developments
     11.9 Electrolux
               11.9.1 Business Overview
               11.9.2 Products Offered
               11.9.3 Recent Developments
     11.10 Trane
               11.10.1 Business Overview
               11.10.2 Products Offered
               11.10.3 Recent Developments
     11.11 Additional Company Profiles
               11.1.1 Gree Electric Appliances Inc.
               11.11.2 Voltas Ltd.
               11.11.3 Blue Star Ltd.
               11.11.4 Haier Electronics Group Co., Ltd.
               11.11.5 Lennox International Inc.
               11.11.6 Sharp Corporation
               11.11.7 S Midea Group Co. Ltd.
               11.11.8 IFB Industries Ltd.
               11.11.9 Panasonic Corporation
               11.11.10 Rheem Manufacturing Company Inc.
               11.11.11 Guangdong Chigo Air Conditioning Co., Ltd.
               11.11.12 Godrej & Boyce MFG. Co. Ltd.
               11.11.13 Onida
               11.11.14 AUX Group Co., Ltd.
               11.11.15 Lloyd Group
               11.11.16 Fujitsu General Ltd.
               11.11.17 Videocon Industries Ltd.

12 Appendix (Page No. - 143)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide


List of Tables (83 Tables)

Table 1 Ductless Heating & Cooling Systems Market, By Type
Table 2 Ductless Heating & Cooling Systems Market, By Application
Table 3 Trends and Forecast of GDP, USD Billion (2015–2021)
Table 4 Trends and Forecast of Manufacturing Sector and Growth, USD Billion (2015–2021)
Table 5 Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 6 Split Systems Market Size, By Region, 2014–2021 (USD Million)
Table 7 Mini Split Systems Market Size, By Region, 2014–2021 (USD Million)
Table 8 Multi Split Systems Market Size, By Region, 2014–2021 (USD Million)
Table 9 Variable Refrigerant Flow Market Size, By Region, 2014–2021 (USD Million)
Table 10 Window Ac Systems Market Size, By Region, 2014–2021 (USD Million)
Table 11 Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 12 Ductless Heating & Cooling Systems Market Size in Residential Buildings, By Region, 2014–2021 (USD Million)
Table 13 Ductless Heating & Cooling Systems Market Size in Commercial Buildings, By Region, 2014–2021 (USD Million)
Table 14 Ductless Heating & Cooling Systems Market Size in Industrial Buildings, By Region, 2014–2021 (USD Million)
Table 15 Ductless Heating & Cooling Systems Market Size, By Region, 2014–2021 (USD Million)
Table 16 Asia-Pacific: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 17 Asia-Pacific: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 18 Asia-Pacific: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 19 China: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 20 China: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 21 India: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 22 India: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 23 Japan: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 24 Japan: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 25 South Korea: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 26 South Korea: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 27 Indonesia: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 28 Indonesia; Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 29 Rest of Asia-Pacific: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 30 Rest of Asia-Pacific: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 31 North America: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 32 North America: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 33 North America: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 34 U.S.: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 35 U.S.: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 36 Canada: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 37 Canada: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 38 Mexico: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 39 Mexico Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 40 Europe: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 41 Europe: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 42 Western Europe: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 43 Germany: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 44 Germany Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 45 U.K.: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 46 U.K.: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 47 France: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 48 France: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 49 Italy: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 50 Italy: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 51 Rest of Western Europe: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 52 Rest of Western Europe: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 53 Central & Eastern Europe: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 54 Russia: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 55 Russia: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 56 Turkey: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 57 Turkey: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 58 Rest of Central & Eastern Europe: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 59 Rest of Central & Eastern Europe Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 60 Middle East & Africa: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 61 Middle East & Africa: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 62 Middle East & Africa: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 63 Saudi Arabia: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 64 Saudi Arabia: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 65 UAE: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 66 UAE: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 67 Nigeria: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 68 Nigeria: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 69 Rest of the Middle East & Africa: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 70 Rest of the Middle East & Africa: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 71 South America: Ductless Heating & Cooling Systems Market Size, By Country, 2014–2021 (USD Million)
Table 72 South America: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 73 South America: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 74 Brazil: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 75 Brazil: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 76 Argentina: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 77 Argentina: Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 78 Rest of South America: Ductless Heating & Cooling Systems Market Size, By Type, 2014–2021 (USD Million)
Table 79 Rest of South America Ductless Heating & Cooling Systems Market Size, By Application, 2014–2021 (USD Million)
Table 80 New Product Development, 2012–2016
Table 81 Expansion, 20212–2016
Table 82 Agreements, Joint Ventures, and Partnerships, 2012–2016
Table 83 Acquisition, 2012–2016
 
 
List of Figures (63 Figures)
 
Figure 1 Ductless Heating & Cooling Systems: Market Segmentation
Figure 2 Years Considered for the Study
Figure 3 Ductless Heating & Cooling Systems Market: Research Design
Figure 4 Key Data From Secondary Sources
Figure 5 Key Data From Primary Sources
Figure 6 Key Industry Insights
Figure 7 Breakdown of Primary Interviews
Figure 8 Market Size Estimation: Bottom-Up Approach
Figure 9 Market Size Estimation: Top-Down Approach
Figure 10 Data Triangulation
Figure 11 Research Assumptions
Figure 12 Split System to Dominate the Ductless Heating & Cooling Market Between 2016 and 2021
Figure 13 Residential Buildings to Dominate the Ductless Heating & Cooling Systems Market
Figure 14 Asia-Pacific Accounted for the Largest Share of Ductless Heating & Cooling Systems Market
Figure 15 Ductless Heating & Cooling Systems Market to Witness Growth During Forecast Period
Figure 16 Split Systems to Be the Fastest-Growing Segment Between 2016 and 2021
Figure 17 Residential Buildings Accounted for the Largest Share of the Ductless Heating & Cooling Systems Market in 2015
Figure 18 Ductless Heating & Cooling Systems Market to Register High Growth in Asia-Pacific and Middle East Between 2016 and 2021
Figure 19 High Growth Potential in Asia-Pacific for Ductless Heating & Cooling Systems
Figure 20 Evolution of Ductless Heating & Cooling Systems
Figure 21 Drivers, Restraints, Opportunities, and Challenges for the Ductless Heating & Cooling Systems Market
Figure 22 Supply Chain Analysis of the Ductless Heating & Cooling Systems Market
Figure 23 Porter’s Five Forces Analysis
Figure 24 Trends and Forecast of GDP, USD Billion (2015)
Figure 25 Contribution of Manufacturing Sector in GDP and Growth (USD Billion)
Figure 26 Packaged Heating & Cooling Systems are the Most Researched Type of Ductless Heating & Cooling Systems, 2011–2016
Figure 27 Industrial Buildings is the Most Researched Application of Ductless Heating & Cooling Systems, 2011–2016
Figure 28 United States Filed the Most Patents for Ductless Heating & Cooling Systems, 2011–2016
Figure 29 Split Systems to Drive Ductless Heating & Cooling Systems Market Between 2016 and 2021
Figure 30 Asia-Pacific to Be the Largest Split Systems Market
Figure 31 Asia-Pacific to Be the Fastest-Growing Market for Mini Split Systems
Figure 32 Asia-Pacific to Be the Largest Market for Multi Split Systems
Figure 33 Asia-Pacific to Be the Largest Market for Variable Refrigerant Flow Systems
Figure 34 Asia-Pacific is the Largest Market for Window Ac Systems
Figure 35 Residential Buildings Expected to Drive the Ductless Heating & Cooling Systems Market, 2016 vs 2021
Figure 36 Residential Building is the Largest Application for Ductless Heating & Cooling Systems
Figure 37 Asia-Pacific: the Largest Market for Ductless Heating & Cooling Systems in Residential Buildings
Figure 38 Asia-Pacific: the Fastest-Growing Market for Ductless Heating & Cooling Systems in Commercial Buildings
Figure 39 Asia-Pacific: the Fastest-Growing Market for Ductless Heating & Cooling Systems in Industrial Buildings
Figure 40 Regional Snapshot: India to Emerge as A New Strategic Destination
Figure 41 Asia-Pacific Market Snapshot: China is the Largest and India is the Fastest-Growing Market, 2016–2021
Figure 42 North America Market Snapshot: the U.S. is the Largest and Mexico the Fastest-Growing Market, 2016–2021
Figure 43 Europe Market Snapshot: Italy is the Largest and Fastest-Growing Market
Figure 44 Middle East & Africa Market Snapshot: UAE is the Largest and the Fastest-Growing Market, 2016–2021
Figure 45 South America Market Snapshot: Brazil is the Largest Market, 2016–2021
Figure 46 Companies Adopted New Product Launch as the Key Growth Strategy, 2012–2016
Figure 47 Ductless Heating & Cooling Market Share Analysis
Figure 48 Key Growth Strategies in the Ductless Heating & Cooling Systems Market, 2012–2016
Figure 49 Samsung Electronics Co., Ltd.: Company Snapshot
Figure 50 Samsung Electronics Co. Ltd.: SWOT Analysis
Figure 51 Hitachi Ltd.: Company Snapshot
Figure 52 Hitachi Ltd.: SWOT Analysis
Figure 53 United Technologies Corporation: Company Snapshot
Figure 54 United Technologies: SWOT Analysis
Figure 55 LG Electronics: Company Snapshot
Figure 56 LG Electronics: SWOT Analysis
Figure 57 Johnson Controls: Company Snapshot
Figure 58 Johnson Controls: SWOT Analysis
Figure 59 Mitsubishi Electric Corporation: Company Snapshot
Figure 60 Whirlpool Corporation: Company Snapshot
Figure 61 Daikin Industries Ltd.: Company Snapshot
Figure 62 Electrolux: Company Snapshot
Figure 63 Trane: Company Snapshot

The global ductless heating & cooling systems market is projected to reach USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021. Ductless heating & cooling systems are experiencing a high demand from the construction sector in the Asia-Pacific region. Expansions and new product development activities related to the development more energy efficient solutions undertaken by different companies are the key factors driving the growth of the global ductless heating & cooling systems market.

The split systems are expected to be the leading type of ductless heating & cooling systems from 2016 to 2021. Split systems allow the user to control the temperature of individual zones as per need. This gives the user the flexibility of operation and provides saving in operating cost. The major benefit of the split system is the low noise level of the system. Split systems are mainly used in schools, hotels, hospitals, supermarkets, and residential buildings. The growth of the commercial sector will also drive the split systems market during the forecast period.

The residential buildings segment is the largest as well as the fastest-growing application of the ductless heating & cooling systems globally. Residential buildings are major consumers of the ductless heating & cooling systems industry owing to the low energy consumption of the system as compared to the ducted system and the easy installation mechanism. Growing populations, rapid urbanization and strong economic growth in the emerging economies of the Asia-Pacific region are leading to the growth in the residential buildings segment which drives the demand for ductless heating & cooling systems. Mini split ductless heating & cooling systems are the most commonly used type in residential buildings due to its lower capacity and lower operating cost.

The Asia-Pacific region was the fastest-growing market for ductless heating & cooling systems, in terms of value, in 2015 and this trend is expected to continue till 2021. The rapid economic growth and increasing population in countries in this region, such as China, India, Japan, South Korea, Malaysia and Indonesia are leading to a significant increase in the use of ductless heating & cooling systems in residential & commercial buildings. China is the largest market for ductless heating & cooling systems, globally. The market in India is expected to experience the highest growth in the Asia-Pacific region during the forecast period.

Ductless Heating & Cooling Systems Market

Though the global ductless heating & cooling systems market is growing at a fast pace, a few factors are hampering the growth of this market. The higher initial installation cost is a major restraint in the growth of the global ductless heating & cooling systems market.

The various subsegments of ductless heating & cooling systems are, mini split systems, multi split systems, and variable refrigerant flow systems. The refrigerant used in ductless heating & cooling systems produces greenhouse gases which cause ozone depletion. This drawback can be overcome by using eco-friendly refrigerants. Developed nations have very stringent regulations about the use of refrigerants which are harmful for the environment.

Companies such as Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), United Technologies Corporation (U.S.), LG Electronics (South Korea), and Johnson Controls (U.S.) are the leading market participants in the global ductless heating & cooling systems market. These companies have been adopting various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product launches to enhance their market shares for ductless heating & cooling systems.

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