Global Ductless Heating and Cooling Systems Market is segmented By Type (Split Systems, Window Air Conditioner Systems), By Application (Residential, Commercial, Industrial), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Ductless Heating and Cooling Systems Market Overview
The Global Ductless Heating and Cooling Systems Market is expected to grow at a CAGR during the forecasting period (2023-2030).
Ductless Heating and Cooling Systems Market - Strategic Insights
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Type, By Application and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Ductless systems use capricious speed inverter compressor expertise to heat and cool any breathing space where they are set up. They are also identified as heat pumps or small splits units that are competent cooling and heating systems. These systems are quite economical, secure and energy competent, and sturdy. They are mutual heat pumps that transmit heat between outdoor and indoor air. Moreover, this air is contracted or prolonged utilizing a refrigerant.
Ductless Heating and Cooling Systems Market Dynamics
Ductless heating and cooling systems are witnessing a soaring demand from the construction sector in the Asia-Pacific region. Expansions and new product launch activities related to the development of high-energy efficient solutions undertaken by different companies are the vital factors driving the growth of the global ductless heating and cooling systems market.
Significant growth in residential buildings, the fastest-growing application for ductless heating and cooling systems is a key driver
Ductless heating and cooling systems are majorly used for heating and cooling indoor air in residential buildings. Residential buildings have come across as the major consumers of ductless heating and cooling systems. The demand is due to the low energy consumption of ductless heating and cooling systems and their easy installation. Fast-growing construction markets in the Asia-Pacific region such as India and China among others are stimulating the demand for ductless heating and cooling systems for residential buildings, which is a result of the rising population, rapid urbanization and strong economic growth in the region.
Growing demand for energy-efficient systems, is boosting the ductless heating and cooling systems market
The global construction industry is anticipated to grow at a steady pace attributed to the increasing demand for residential buildings in major economies such as India, China, the U.S., the Middle East and others. There is high growth in the number of residential buildings which is expected to stimulate the demand for ductless heating and cooling systems. Although, the high initial installation cost and the lower capacity of ductless systems as compared to ducted air conditioners may restrain its growth in future.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global economy in many terms, such as directly affecting production and demand, supply chain disruption, and financial impact. The construction industry was one of the sectors that bore the worst brunt of COVID-19, as it was already battling a liquidity crunch as fallout of the non-banking financial institutions in the financial sector for over a year. Many projects remained in the unfinished stages due to the lack of funds. Those that were completed, were unsold, owing to changing buyer preferences.
COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. The demand for residential construction was also on hold, as potential homeowners kept their purchase decisions on standby due to various reasons and uncertainty triggered by the COVID crisis. Commercial construction (new buildings and refurbishments), infrastructure projects, and road construction and repair are industries that have witnessed a substantial decline. Also, industrial manufacturing was severely affected due to the COVID-19 outbreak. Residential construction had also struggled, especially interior projects. The work from home and social distancing has highly impacted this industry. The impact of coronavirus on the construction industry hence led to the decline of GDP not only in real estate but also in several associated sectors.
Ductless Heating and Cooling Systems Market Segment Analysis
Based on the type, the ductless heating and cooling systems market has been classified into split systems and window air conditioner systems.
The split systems gained popularity in the ductless heating and cooling systems market
Split systems allow the user to control the temperature of individual zones as per requirement. This enables the user the flexibility of operation and provides saving in operating costs. The major advantage of the split system is the low noise level of the system. Split systems are primarily used in supermarkets, schools, hospitals, hotels, and residential buildings. The growth of the commercial sector will also propel the split systems market during the forecast period.
Based on the application, the ductless heating and cooling systems market has been classified into residential buildings, commercial buildings, and industrial buildings.
The residential building segment is likely to garner the highest share during the review period
Growing popularity from the housing buildings application is the most important driver for the residential buildings segment growth. The global manufacture industry is anticipated to develop with the rising demand for residential buildings in most important economies such as the U.S., India, the Middle East, China, Brazil, Germany, and others. High expansion in the numbers of residential buildings is anticipated to fuel the popularity of ductless heating and cooling systems, but the high primary installation price and the lower capability of ductless systems when compared to ducted air conditioners can hold back its growth in the coming years.
Ductless Heating and Cooling Systems Market Geographical Share
Based on geography, the study analyzes the ductless heating and cooling systems market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Asia-Pacific leads the global market throughout the forecast period
The Asia-Pacific region is the highest growing market for ductless heating and cooling systems. The rapid economic growth and increasing population in countries such as India, China, Japan, South Korea, Malaysia and Indonesia are leading to a significant increase in the use of ductless heating and cooling systems in residential and commercial buildings. Furthermore, China is the largest market for ductless heating and 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 and Cooling Systems Companies and Competitive Landscape
The ductless heating and cooling systems market is highly competitive, owing to the presence of big brands. The key ductless heating and cooling systems market players which are contributing to the growth of the global market include Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), United Technologies Corporation (U.S.), LG Electronics (South Korea), and Johnson Controls (U.S.) and others.
Samsung Electronics Co. Ltd.
Overview: Samsung Electronics Co., Ltd. is a South Korean based multinational electronics company headquartered in the Yeongtong District of Suwon. Samsung Electronics has played a key role in the group's corporate governance due to circular ownership. Samsung Electronics has assembly plants and sales networks in 74 countries and employs around 290,000 people. It is majority-owned by foreign investors. It is the world's largest manufacturer of consumer electronics by revenue. As of 2019, Samsung Electronics is the world's second-largest technology company by revenue.
Product Portfolio: The company's portfolio comprises mobile phones, semiconductors, hard drives, televisions and others.
Why Purchase the Report?
- Visualize the coated paper market segmentation composition by type, application, and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the ductless heating and cooling systems market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of ductless heating and cooling systems market - level 2 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global ductless heating and cooling systems market report would provide access to an approx. 33 market data table, 38 figures and 180 pages.
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