The report "Ductless Heating & Cooling Systems Market by Type(Split Systems, and Window Air Conditioning Systems), Application(Residential Buildings, Commercial Buildings,and Industrial Buildings) and Region - Global Forecast to 2026" The ductless heating & cooling systems market is projected to grow from USD 98.4 billion in 2021 to USD 145.0 billion by 2026, at a CAGR of 8.1% during the forecast period. Constant efforts for developing next-generation low global warming potential refrigerants for ductless systems is expected to be the key growth opportunity for the market players.
Browse 448 market data Tables and 53 Figures spread through 307 Pages and in-depth TOC on "Ductless Heating & Cooling Systems Market by Type(Split Systems, and Window Air Conditioning Systems), Application(Residential Buildings, Commercial Buildings,and Industrial Buildings) and Region - Global Forecast to 2026 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/ductless-heating-cooling-systems-market-108776436.html
The ductless heating & cooling systems market includes major Tier I and II players like DAIKIN INDUSTRIES (Japan), Johnson Controls (US), Carrier (US), Trane Technologies plc, (US), LG Electronics (South Korea), and others. These players have a strong market presence for ductless heating & cooling systems across various countries in North America, Europe, APAC, and RoW.
Growing trend of smart homes
The ductless heating & cooling systems market size is estimated to be USD 98.4 billion in 2021 and is projected to reach USD 145.0 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.
Most active players in the ductless heating & cooling systems market:
DAIKIN Industries (Japan), Johnson Controls (US), Carrier (US), Trane Technologies plc, (US), LG Electronics (South Korea), Emerson Electric Co. (US), Honeywell International Inc. (US), Mitsubishi Electric Corporation (Japan), Nortek Air Management (US), Samsung Electronics (South Korea), FUJITSU (Japan), GREE (China), Hitachi (Japan), Midea (China), Panasonic (Japan), Haier Smart Home (China), Whirlpool (US), Electrolux (Sweden), and Lennox (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441