The split systems market was valued at USD 99.06 billion in the previous year and is expected to grow 4.88% during the forecast period, owing to the demand for energy-efficient and environmentally friendly products and the increasing adoption of air conditioning in residential and commercial applications. Adequate heating and cooling are essential to human health and productivity and are becoming more important globally due to urbanization, the growing economy, and the increasing need for cooling due to extreme weather conditions in different regions.
The Split Systems Market is moderately fragmented, with the presence of major players like Daikin Industries, Ltd., Mitsubishi Electric Corporation, Hitachi, Ltd., Samsung Electronics Co., Ltd., and Panasonic Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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