The global ductless heating & cooling systems market is projected to reach USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021. Ductless heating & cooling systems are experiencing a high demand from the construction sector in the Asia-Pacific region. Expansions and new product development activities related to the development more energy efficient solutions undertaken by different companies are the key factors driving the growth of the global ductless heating & cooling systems market.
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Ductless Heating & Cooling Systems Market by Type, Application - Global Forecast to 2021
Ductless Heating & Cooling Systems Market by Type (Split Systems, Window Air Conditioner Systems), Application (Residential Buildings, Commercial Buildings, Industrial Buildings) - Global Forecast to 2021
The global ductless heating & cooling systems market is projected to be valued at USD 78.62 Billion by 2021, at a CAGR of 8.18% from 2016 to 2021. In this study, 2015 has been considered as the base year and 2016 to 2021, the forecast period, to estimate the global market of ductless heating & cooling systems.
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The split systems are expected to be the leading type of ductless heating & cooling systems from 2016 to 2021. Split systems allow the user to control the temperature of individual zones as per need. This gives the user the flexibility of operation and provides saving in operating cost. The major benefit of the split system is the low noise level of the system. Split systems are mainly used in schools, hotels, hospitals, supermarkets, and residential buildings. The growth of the commercial sector will also drive the split systems market during the forecast period.
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This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.
The residential buildings segment is the largest as well as the fastest-growing application of the ductless heating & cooling systems globally. Residential buildings are major consumers of the ductless heating & cooling systems industry owing to the low energy consumption of the system as compared to the ducted system and the easy installation mechanism. Growing populations, rapid urbanization and strong economic growth in the emerging economies of the Asia-Pacific region are leading to the growth in the residential buildings segment which drives the demand for ductless heating & cooling systems. Mini split ductless heating & cooling systems are the most commonly used type in residential buildings due to its lower capacity and lower operating cost.
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Samsung Electronics Co. Ltd. (South Korea), Hitachi Ltd. (Japan), United Technologies Corporation (U.S.), LG Electronics (South Korea), and Johnson Controls (U.S.) are the leading market participants in the global ductless heating & cooling systems market.
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