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

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 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.

Extensive primary interviews were conducted in the process of determining and verifying sizes of the type, and application segments of the ductless heating & cooling systems market gathered through secondary research.

The break-up of primary interviews has been given below.
By Company Type: Tier 1 – 30%, Tier 2 – 50%, and Tier 3 – 20%
By Designation: C Level Executives – 40%, Director Level – 20%, Others – 40%
By Region: North America – 10%, Europe – 40%, APAC – 30%, South America – 10%, MEA– 10%

The key companies profiled in this report for the ductless heating & cooling systems market include 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).

Research Coverage

The ductless heating & cooling systems market has been segmented based on type, application, and region. This report covers the ductless heating & cooling systems market and forecasts its market size till 2026. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the ductless heating & cooling systems market. The report also provides insights into the driving and restraining factors in the ductless heating & cooling systems market along with opportunities and challenges across the market. The report also includes profiles of top manufacturers in the ductless heating & cooling systems market.

Key Benefits of Buying the Report

The report is expected to help market leaders/new entrants in the following ways:

1. This report segments the ductless heating & cooling systems market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the ductless heating & cooling systems market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the ductless heating & cooling systems market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies such as new product launch, merger & acquisition, joint venture, and expansion.