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The worldwide market for ductless heating and cooling systems is anticipated to expand at a CAGR of 9.1% between 2017 and 2022, from its projected value of USD 98.89 billion in 2022. The Internet of Things has helped propel ductless HVAC systems into the mainstream, both in commercial and residential applications. There is a wide range of ductless heating and cooling systems available, each with its own unique design and set of capabilities. Connected HVAC systems that exchange data via the internet constitute an IoT situation. It controls climate control systems, gathers information about them, and stores it in the cloud; it also optimises HVAC procedures to save energy and time, and it can perform predictive maintenance.
HVAC systems are installed in homes, businesses, and factories to heat and cool the indoor environment. With an HVAC system, you can rest assured that your home's temperature and humidity will be maintained in a cost-effective, environmentally responsible manner. The most common type of HVAC system is the split system. These are the conventional HVAC systems that have been used for decades to keep a building comfortable year-round. The global ductless HVAC system market is being propelled by the product's high efficiency and numerous features, such as adjustable fan speeds and multiple heating and cooling settings. The market is expanding because of factors including rising incomes and temperatures. However, the expansion is hampered by the high initial cost of installation and the harmful effect on the environment. Market expansion is anticipated as a result of rising internet usage and improved optic patch cable reliability.
Market CAGR for weight loss supplements is being driven by their increasing acceptance in the commercial and industrial sectors. While ductless HVAC systems have more commonly been used in homes, their use in commercial and industrial settings is growing significantly. Commercial spaces like offices, stores, and hotels can benefit from ductless heating and cooling systems because of their adaptability and efficiency. Individual zones can be kept at a comfortable temperature with the help of these technologies. Their small form factor and straightforward installation also make them an excellent choice for upgrading older buildings where ducting is not an option. Ductless HVAC systems are used in the industrial sector to provide localised climate control and improved energy efficiency by cooling or heating specified regions.
The ductless HVAC market has also been revolutionised by technology developments, which have improved the systems' practicality and efficiency. Smart features, such as remote access, programmable scheduling, and compatibility with smart home automation platforms, are increasingly being incorporated by manufacturers into these systems. Thanks to advancements in IoT technology, connected ductless HVAC systems are now available, allowing homeowners to manage and keep tabs on their HVAC units from the convenience of their smartphones. Comfort and energy savings can be further optimised by incorporating sensors, AI, and machine learning algorithms.
Increased building activity and forward-thinking urban initiatives have fueled the industry's expansion. By 2020, for instance, there would be about 41,3 million smart homes in the United States. The need for climate control and fresh air in commercial and residential buildings is expected to increase the market demand for ductless cooling structures. In addition, Power Equipment Direct became the first retailer to carry mini-split systems from Ferguson's Durastar company in April 2021. The improvements in these products provide homeowners with solid performance at an inexpensive price and are backed by a 10-year warranty on the components. The ideal performance and longevity of Durastar mini-split buildings decreases contractor returns and boosts customer satisfaction. As a result, new residential heating and cooling system introductions are a key factor expected to boost the ductless heating & cooling systems market throughout the forecast period.
Report Coverage
Global Ductless HVAC System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ductless HVAC System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ductless HVAC System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ductless HVAC System market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ductless HVAC System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ductless HVAC System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Carrier, DAIKIN Industries, Electrolux, FUJITSU, Haier Smart Home, Hitachi, Honeywell International Inc., Lennox, LG Electronics, Mitsubishi Electric Corporation, Nortek Air Management, Panasonic, Samsung Electronics, and Whirlpool.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ductless HVAC System market based on the below-mentioned segments:
Global Ductless HVAC System Market, By Type
Split System
Window Air Conditioning System
Heat Pump
Chilled Water Systems
Others
Global Ductless HVAC System market, By Application
Residential Buildings
Commercial Buildings
Industrial Buildings
Global Ductless HVAC System market, Regional Analysis
HVAC systems are installed in homes, businesses, and factories to heat and cool the indoor environment. With an HVAC system, you can rest assured that your home's temperature and humidity will be maintained in a cost-effective, environmentally responsible manner. The most common type of HVAC system is the split system. These are the conventional HVAC systems that have been used for decades to keep a building comfortable year-round. The global ductless HVAC system market is being propelled by the product's high efficiency and numerous features, such as adjustable fan speeds and multiple heating and cooling settings. The market is expanding because of factors including rising incomes and temperatures. However, the expansion is hampered by the high initial cost of installation and the harmful effect on the environment. Market expansion is anticipated as a result of rising internet usage and improved optic patch cable reliability.
Market CAGR for weight loss supplements is being driven by their increasing acceptance in the commercial and industrial sectors. While ductless HVAC systems have more commonly been used in homes, their use in commercial and industrial settings is growing significantly. Commercial spaces like offices, stores, and hotels can benefit from ductless heating and cooling systems because of their adaptability and efficiency. Individual zones can be kept at a comfortable temperature with the help of these technologies. Their small form factor and straightforward installation also make them an excellent choice for upgrading older buildings where ducting is not an option. Ductless HVAC systems are used in the industrial sector to provide localised climate control and improved energy efficiency by cooling or heating specified regions.
The ductless HVAC market has also been revolutionised by technology developments, which have improved the systems' practicality and efficiency. Smart features, such as remote access, programmable scheduling, and compatibility with smart home automation platforms, are increasingly being incorporated by manufacturers into these systems. Thanks to advancements in IoT technology, connected ductless HVAC systems are now available, allowing homeowners to manage and keep tabs on their HVAC units from the convenience of their smartphones. Comfort and energy savings can be further optimised by incorporating sensors, AI, and machine learning algorithms.
Increased building activity and forward-thinking urban initiatives have fueled the industry's expansion. By 2020, for instance, there would be about 41,3 million smart homes in the United States. The need for climate control and fresh air in commercial and residential buildings is expected to increase the market demand for ductless cooling structures. In addition, Power Equipment Direct became the first retailer to carry mini-split systems from Ferguson's Durastar company in April 2021. The improvements in these products provide homeowners with solid performance at an inexpensive price and are backed by a 10-year warranty on the components. The ideal performance and longevity of Durastar mini-split buildings decreases contractor returns and boosts customer satisfaction. As a result, new residential heating and cooling system introductions are a key factor expected to boost the ductless heating & cooling systems market throughout the forecast period.
Report Coverage
Global Ductless HVAC System research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ductless HVAC System report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ductless HVAC System competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ductless HVAC System market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Carrier, DAIKIN Industries, Electrolux, FUJITSU, Haier Smart Home, Hitachi, Honeywell International Inc., Lennox, LG Electronics, Mitsubishi Electric Corporation, Nortek Air Management, Panasonic, Samsung Electronics, and Whirlpool. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Ductless HVAC System Market from 2021 to 2030.
- Market Forecast for Ductless HVAC System Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Ductless HVAC System competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Ductless HVAC System
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ductless HVAC System market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ductless HVAC System market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Carrier, DAIKIN Industries, Electrolux, FUJITSU, Haier Smart Home, Hitachi, Honeywell International Inc., Lennox, LG Electronics, Mitsubishi Electric Corporation, Nortek Air Management, Panasonic, Samsung Electronics, and Whirlpool.
Primary Target Market
- Market Players of Ductless HVAC System
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ductless HVAC System market based on the below-mentioned segments:
Global Ductless HVAC System Market, By Type
Split System
Window Air Conditioning System
Heat Pump
Chilled Water Systems
Others
Global Ductless HVAC System market, By Application
Residential Buildings
Commercial Buildings
Industrial Buildings
Global Ductless HVAC System market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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