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Ductless Heating & Cooling Systems Market worth 78.62 Billion USD by 2021
The report "Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021", 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.
Browse 83 market data tables and 63 figures spread through 144 pages and in-depth TOC on “Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021”
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This growth is fueled by the high potential demand from residential buildings and the increasing global demand for ductless heating & cooling systems in the Asia-Pacific, South American and Middle-Eastern & African regions. Ductless heating & cooling systems are preferred over conventional systems because of their low energy consumption and easy installation procedure.
Split Systems: The most-widely used type of ductless heating & cooling systems
The split system is the most-widely used type of ductless heating & cooling system. The split system allows the user to control the temperature of individual zones according to need, giving the user the flexibility of operation and savings in operating cost. The major benefit of the split system is the low noise level of the system. The part of the air conditioner that causes the sound is the compressor and the fan that cools the condenser coil. In the split system, both, compressor and fan are kept in the outdoor unit so as to reduce the indoor noise level.
Residential Buildings: The largest application of ductless heating & cooling systems
Residential buildings include all kinds of residential structures such as houses, town houses, cottages, condominiums, and apartments. In residential buildings, ductless heating & cooling systems are used for heating and cooling indoor air. Ductless systems use less energy as compared to ducted systems and are easy to install in residential buildings, and these factors drive the market for ductless systems in the residential building segment. The air conditioning capacity offered by the ductless systems is the added advantage for this application segment. Faster-growing construction markets in the Asia-Pacific region and other emerging economies are the result of rising populations, rapid urbanization and strong economic growth. Mini split ductless heating & cooling systems are the most commonly used type in residential buildings because of their lower capacity and lower operating cost required in residential buildings.
Asia-Pacific: The largest market for ductless heating & cooling systems
The Asia-Pacific region is the largest market in the global ductless heating & cooling systems market, in terms of value, and this trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing a significant increase in the use of ductless heating & cooling systems in residential and commercial buildings. This growth is mainly due to the rapid economic growth and increasing population that is driving the demand for ductless heating & cooling systems for residential and commercial buildings in the Asia-Pacific region. India is the fastest-growing market for ductless cooling & heating systems and the trend is expected to continue till 2021.
The ductless heating & cooling systems market has very few global players competing for significant market shares. These companies are actively investing in various strategies such as new product developments, major acquisitions, and expansion projects globally to further increase their market shares. Major players such as Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), United Technologies Corporation (U.S.), LG Electronics (South Korea), Johnson Controls (U.S.), and others have adopted various organic and inorganic developmental strategies.
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